Receipt codes identify pre-defined values for the transactions that you enter using the receipting windows. When you enter a receipt code, the information stored as part of the receipt code defaults to the receipting window. You can update the values on the window.
This automatic code makes entering receipts a quick process once you become familiar with your receipt codes since it saves you time needed to type the account numbers and description for each transaction along with other transaction details.
Each receipt code houses information such as description, offset account (i.e., cash), the target account (i.e., the subsidiary account), and, if the transaction represents a credit card payment, the credit card being used.
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Receipting windows have a minimum number of columns that are required. When you enter the credit or payment on the window, the information stored on the receipt code creates the offsetting transaction that is not displayed on the window (see illustration below). |
Receipt Code |
Target Account |
SBS Code |
Offset Account |
Transaction Description |
100 |
01-01-1020-1201 |
AT |
01-01-1010-1010 |
Tuition payment |
HOU |
01-01-1020-1202 |
AH |
01-01-1010-1010 |
Housing payment |
RE1 |
01-01-1020-1203 |
AR |
01-01-1010-1010 |
Registration fee payment |
4AC |
01-01-1020-1204 |
AA |
01-01-1010-1010 |
Activities fee payment |
G10 |
01-01-1020-1205 |
AG |
01-01-1010-1010 |
Graduation fee payment |
When preparing to define your organization's receipt codes, you should think of the most common types of credits you make to student's accounts and then assign a receipt code to each one. You do not need to think of every single possibility that you could use the Receipting windows to credit a student's account.
If you have a general set of receipt codes to start with, you may find that they take care of the majority of the transactions you enter. Keep in mind that if you have a few basic receipt codes, the transaction details can be changed on the Receipting windows to make each individual transaction more specific. You can create more specialized codes at any time.
