Transaction Types
 

Transactions are used for books, printed music,  subscriptions, supplies, late payment penalties, discount for early payment. Some studios do not operate on a Tuition basis. Those that want to bill for 3 lessons,4 lessons, and 5 lessons will set up transactions here. Please review the hyperlink for more detail.

Right Click in the Transaction Types window. "Add, Edit, or Delete" transaction types as necessary.

 

Note: Those studios on Tuition basis do not need to assign a charge for lessons. TS5 calculates this total based upon the Teachers Hourly Rate, number of lessons, and lesson duration. This is all done from the Lesson Plan, and then divided into equal payments.

 

Billing by the lesson transactions:

 

If you bill by the lesson, set up transactions with appropriate amount:

  • one lesson, cost $____

  • two lessons, cost $____

  • three lessons, cost $____ and so forth

This area can generate "Discounts" for early pay, or "Late Fees" for accounts overdue.  The data entered here will be used in the  Studio Transaction area.

 

"Miscellaneous" is a good category to set up for the "catch all" items that may not be identified elsewhere.

Note: Payments should not be setup; there is a payment schedule option already available for your convenience in the standard Lesson Plan under Student Profile. If a payment is made to post to the account, this option is already setup.

Note: DO NOT MAKE A TRANSACTION FOR EVERY STUDIO OPERATION -- Remember that tuition is calculated in the Lesson Plan, Group Fees are charged in the Group Plan, and the same with Events. That leaves only a few operations to be entered in this area.  Keep it streamlined.

 
          Now go to Closed.

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