Posting Bursary Payments
In PS Accounting, bursary transactions are linked to the applicable STUDENT ledger. Before posting a bursary transaction, please ensure you have the applicable students set up.
Processing bursary income
To process bursary income in PS Accounting:
- Select Options > Document Input from the top menu.
- Select the applicable BU - Bursary Transactions document type from the Document Type drop-down list.
- Select Bursary Income from the Input Form drop-down list.
- The Document Date field is defaulted to the date that you are entering the information. The date needs to be the same date as the bursary transaction occurred. To change the Document Date field, click the drop-down arrow button and select the correct date from the calendar, or alternatively you can type over the date using a dd/mm/yyyy format.
- The Document Period field is defaulted to the current accounting period. The document period needs to be the accounting period the cheque was paid in. If the accounting period has closed and is no longer available, select the next open accounting period. To change the Document Period field click the ? button. The Period List dialog is displayed. Double-click on a period, or select a period, then click the OK button.
- The Bursary Income Receipt form is displayed. The Location field is typically already populated based on the information entered in the Document Input dialog.
- To select the bank account the bursary payment has been received into, double-click in the Bank field and select the applicable bank account from the List of Accounts dialog.
- Double-click the Paying In/ Direct Bank field and select either Bank-Cash or Payin.
Bank or Cash: The income is being received directly into the applicable bank account.
Paying In Slip: The income is being received by cash or cheque and will be paid into the bank manually. This will post the document to the Paying in Slip Control Account ( - The Document Date field is defaulted to the date you entered in the Document Input dialog. You can change the date by clicking on the drop-down arrow button, then select click a date from the calendar.
- Enter the total income being received into the Amount field - I.e. 45.00.
- Enter a description for the income in the Description field - I.e. Bursary Income.
- The Nominal field will automatically populate with the
- Double-click the Account field and select an applicable account to post the income against. This will typically be an account from your applicable Locations' Cost Centre.
- Enter the gross value of the income in the Gross Value field.
- Double-click the VAT Rate field and select the applicable VAT rate.
- The Net Value field will automatically calculate based on the information you have entered in the Gross and VAT Rate fields.
- Enter an applicable description of the bursary income the Description field. If the bursary document contains multiple bursaries, this will help identify the transactions when they have been posted.
- If you need to add another bursary receipt line to the input form, click into the blank space next to the Description field, then press the Tab key on your keyboard to create a new blank line.
- When you have entered all the required information into the input form, press the F5 key on your keyboard to post the document.
Processing bursary expenditure
To process bursary expenditure in PS Accounting:
- Select Options > Document Input from the top menu.
- Select the applicable BU - Bursary Transactions document type from the Document Type drop-down list.
- Select Bursary Expense from the Input Form drop-down list.
- The Document Date field is defaulted to the date that you are entering the information. The date needs to be the same date as the bursary transaction occurred. To change the Document Date field, click the drop-down arrow button and select the correct date from the calendar, or alternatively you can type over the date using a dd/mm/yyyy format.
- The Document Period field is defaulted to the current accounting period. The document period needs to be the accounting period the cheque was paid in. If the accounting period has closed and is no longer available, select the next open accounting period. To change the Document Period field click the ? button. The Period List dialog is displayed. Double-click on a period, or select a period, then click the OK button.
- The Bursary Expense form is displayed. The Location field is typically already populated based on the information entered in the Document Input dialog.
- The Document Date field is defaulted to the date you entered in the Document Input dialog. You can change the date by clicking on the drop-down arrow button, then select click a date from the calendar.
- Double-click in the Bursary Account field and select the applicable expenditure account.
- Enter a description for the expense in the Description field.
- Enter the total expenditure into the Document Control field.
- The Nominal field will automatically populate with the
- Double-click the Student field and select an applicable Student account to post the expense to. If you have changed the nominal in the previous step, you will need to select an applicable account from the list. Please note the field label will always display Student.
- The Student PAN field will automatically populate if the PAN number has been added to the student account. It is not possible to manually enter data in this field.
- Enter the value of the bursary in the Value field.
- Enter an applicable description of the bursary expense the Description field. If the bursary document contains multiple expense lines, this will help identify the transactions when they have been posted.
- If you need to add another bursary expense line to the input form, click into the blank space next to the Description field, then press the Tab key on your keyboard to create a new blank line.
- When you have entered all the required information into the input form, press the F5 key on your keyboard to post the document.