TABLE OF CONTENTS

Revenue


The revenue calculation in GEGI is tightly linked to student charges and some accrual types match them. In fact, any charge in the Enrollment Agreement should be recorded as revenue during the study.

The way a charge will be recorded for a student can be configured for each charge. You can do it using the Revenue is Recorded setting in the charges list on the Admin → Charges & Payments page.


Revenue is recorded for a student only when the student starts attending classes and the stage of the pipeline in a group changes to ACTIVE. The only exception is the charges paid before the study starts (e.g., the registration fee).


Revenue will not be added to a student if the accrual date is within a closed period. The same applies to the existing records: revenue cannot be modified or deleted in a closed period.


There are 4 types of revenue in GEGI:

  1. Tuition Fee. This revenue is accrued daily when a student is studying.
    • The charges that are accrued this way have Revenue is Recorded set to Everyday.
    • Only accrued if the student is ACTIVE.
    • Accrual amounts are calculated by different algorithms depending on a program type.
    • Not FA charges are accrued only on the dates of the courses related to those charges.
    • If the total amount of charges cannot be divided equally between the days of a period, the rest of the division is accrued on the last day of the period.
  2. Accruals on the first day of study. This revenue type is accrued on the date of the student’s first day of study.
    • The charges that are accrued this way have Revenue is Recorded set to On First Day of Class.
    • Only accrued if the student is ACTIVE.
    • The accrual happens on the date of the student’s first scheduled class in a group regardless of whether the student attended it or not.
  3. Accruals on the date the charge is posted in the AR Card. (e.g., the registration fee).
    • The charges that are accrued this way have Revenue is Recorded set to On Charge Date.
    • The charge date must fit within one of the study periods. Except for the charges with the Must be Paid in Advance setting enabled. Such charges can be accrued before the group start (e.g., the registration fee).
  4. Books Fee. This revenue type is accrued at the beginning of each module, on the first day of the study, or on the start date of each course (depends on the program).
    • The accrual amount is calculated based on the list of the books the student purchased for the study. More information about books configuration can be found in the following article: Configuring the List of Books for Programs, Courses, and Students.
    • Only accrued if the student is ACTIVE.
    • The date and the amount of the accruals depend on the program type.


Some accrual types have specific features that depend on the program type:

  1. Non-Term Credit Hours Programs: 
    • The accrual amount for the tuition fee for one day is calculated in every payment period. It uses the total sum of all charges recorded for the student in this period and the total number of days in the period (excluding breaks).
    • The book fee is accrued in full on the student’s first day of study.
  2. Clock Hours Programs:
    • The amount of the accrual for the tuition fee for one day is calculated by the number of hours in the student’s scheduled day multiplied by the hourly rate of the study.
    • You can configure different rates for different types of courses.
    • The book fee is accrued partially at the beginning of courses.
  3. Term-Based Credit Hours Programs:
    • The date and the amount of the accruals depend on the program type.
    • The amount of the accrual for the tuition fee for one day is calculated for each module. It is calculated as the cost of all module courses (credit hours × cost per credit) divided by the number of days in the module.
    • No accruals during breaks.
    • The books fee is accrued on each program module start date. The accrued amount depends on the list of the books the student receives for the module.
Note: The revenue will be calculated only for the programs with the Calculate Revenue Recognition option enabled on the Program Details page.


Specific Aspects of Revenue Accrual When a Student Is Dropped or Transferred


The last date of attendance (LDA) is defined after students are switched to DROPPED or LOA. That is the date of the last attended class (marked "P", "L", "PM").

For the clock hour programs, we define the percent of the classes the student attended in the period when the student was dropped. For credit hour programs, we define the percent of the days the student attended in the period (module) when the student was dropped.

If it is below or equal to 60%, the accruals for tuition end on the Last Date of Attendance. At the same time, the accumulated remainder after rounding the sums is added to the last accrual.

If it is above 60%, the accruals for tuition continue till the end of the period (module). In other words, the revenue is accrued as a cost of the full period for the student.

However, the revenue remainder is accrued as a single amount on the last date of attendance, not daily.

No charges except for the "Tuition" charge are accrued after LDA.


In case the student is reenrolled in the group of the same program within 180 days (DROPPED Transfer, LOA Transfer), the accruals in the new group include the completed accruals from the previous groups. At the same time, the number of the student’s transfers between groups is unlimited: the accruals sum will include accruals from all the student’s groups.


Note: If you add a charge with the "Charge for Repeated Courses" property (e.g., the "Tuition Repeat" charge), the amount of that charge will be accrued to a student as revenue.


The following logic is implemented to avoid duplicate revenue calculations:  

  1. Upon the DROPPED, LOA, AM/PM Transfer, the Tuition Repeat charge is copied to a new group.
    1.1. If the student’s course list in the new group contains courses associated with Tuition Repeat from the previous group, the courses will be automatically associated with Tuition Repeat in the new group.
    1.2. If at least one course is missing, the list of the courses remains empty.
    1.3. The Enrollment Agreement can not be populated without selecting courses for this charge.
  2. The Tuition Repeat charge appears in the student’s A/R Card if there is no identical Tuition Repeat charge in the previous group.
    2.1. Tuition Repeat charges are considered identical if they have the same amount, date, and courses, and they are both FA or not FA.
  3. Courses assigned to such charges are not reflected in revenue again as repeated. The following rules apply to all subsequent groups (the student may transfer to in the future):
    3.1. There are no more revenue accruals for these courses in the subsequent groups.
    3.2. Accruals are only possible if the course is selected again as repeated for another Tuition Repeat charge.


If after the start of the study, the student becomes NOT STARTED, nothing is accrued for the study. Except for the charges added before the group start (e.g., the registration fee).


Revenue Report


You can view the student accruals in the following report: Revenue (Financial → Financial Reports → Revenue).


The report shows the groups that studied within the selected period and the students with revenue in these groups. Even if a student has no revenue in the selected period, the student will be still shown but with the $ 0.00 in the cell:



The information can be grouped using the Show Revenue by filter.

There are the following grouping options: 

  • Campuses — grouping by campus.
  • Campuses & Programs — grouping by campuses and specific programs in each campus.
  • Groups — grouping by groups.
  • Groups & Students — grouping by groups and specific students in the groups.
  • Programs — grouping by programs.
  • Programs & Campuses grouping by programs and specific campuses for each program.
  • Students — grouping by students.
  • States — grouping by states.
  • States & Groups — grouping by states and by specific groups in each state.
  • States & Programs — grouping by states and by specific programs in each state.


The Group State filter allows selecting groups where the state is defined in the settings.


The Group Data by filter allows choosing the time intervals for the grouping. The filter works with days, weeks, and months.

An example showing the week grouping:



The Period filter defines the time interval for the report. The maximum interval duration is one year. The earliest date you can select in the filter is limited by the Opening Date for Revenue Report in School Settings.


The Total filter allows hiding rows with zero values in all columns and applying other mathematical expressions.


There are also the standard filters: Campus, Student, Group Program, Cohort/Group, Stage in Group, Main Stage.


Details in the Revenue Report 


The Revenue report has a mode that displays a single student’s information. Here you can click any date and see the list of accruals:



Errors in the Revenue Calculation

If for some reason the student’s revenue in a group cannot be calculated, the report will show N/A instead of the amounts and the description of the error:


The list of possible errors:

  • Modules in the group are configured incorrectly (overlapping, going out of order, have blank dates, a module date is outside the group).
  • The student’s courses are configured incorrectly (overlapping, a course date is outside the group). The following fields are required for courses: number, credit hours, start date, and end date.

  • Modules and breaks are configured incorrectly, it is impossible to determine the duration of a module.

  • Courses and breaks are configured incorrectly, it is impossible to determine the duration of a payment period.

  • The student does not have a populated Enrollment Agreement.

  • The cost of credit/clock hours of the courses is not filled in the Enrollment Agreement.

  • The student does not have any assigned courses.

  • Student courses have not been added to any module.

  • The clock/credit hours of the course are not filled in for the group.

  • Credit/clock hours in the academic year are not filled in for the program.

  • The cost of books is not filled in for the student’s courses.

  • The costs of the periods in groups before and after the transfer are not equal.

  • There is no date for the remainder revenue after the transfer.

  • All courses added to the particular charges list should have the same module and the start and the end dates must be within the module.

  • The costs of the periods in groups before and after the transfer are not equal.

  • The dates of the modules in the groups after the transfer must be the same.


You can filter only students with calculation errors in the Revenue and the Deferred Revenue reports using the Show Only with Calculation Errors filter.


What Needs to Be Configured for the Revenue Calculation?


The correct revenue calculation requires the following to be configured:


  1. Charges (Admin → Charges & Payments):
    • The charges that need to be accrued should have the Revenue is Recorded setting configured.
  2. Programs:
    • The Credit (Clock) Hours in Academic Year should be filled in for the academic year duration calculation.
  3. Groups:
    • Requires Breaks to be configured.
    • The courses in groups should have the following configured: Start Date, Completion Date, Clock Hours, Credit Hours.
  4. Student:
    • A student should have a populated Enrollment Agreement.


Revenue Adjustments


You can add Adjustments for revenue on the Student "Student’s Name": Revenue Adjustments page:



When creating an adjustment you should select Accrual Type for the adjusted accrual:


Revenue adjustments can also be created automatically during the revenue recalculation in a closed period.  At the same time, the automatic revenue adjustments are not created if the student has completed the group more than N days ago (the value from the Allow Re-enrolling to the Same Program for setting).


No revenue records can be added or changed in a closed period so during the recalculation the required adjustment will be added as a revenue adjustment on the current date.


Revenue adjustments are shown only in the Revenue and the Deferred Revenue reports:



The AR Card adjustments are not shown in the Revenue report. Except for the registration fee adjustment. It is shown both in the AR Card and Revenue.


Deferred Revenue


The Deferred Revenue report shows all student’s charges (as for the AR Card) and all student’s accruals (as for the Revenue report):

 

The Report Mode filter can enable one of the two modes:

  1. Summary — shows only students’ balances.
  2. Details — shows all students’ charges and accruals.


In the Summary mode, you can click a student’s name to open the Details for that student:



In the Details mode, the Group Tuition Fees by filter allows setting the tuition fees grouping by days, weeks, or months.

All student’s transactions with the date prior to the Period start date are summed up in the Beginnings Balance row.



 

The Transaction Title filter is available both in the Summary and Details modes and allows filtering transactions by type and title:


After the filter is applied, the results will not include Beginning Balance and it will not be included in Total: