Account Code Breakdown for Multiple Payrix Disbursements
11/11/2024
When districts accept online payments from parents, those funds are regularly transferred to the district bank account by Payrix. These “disbursements” are manually entered into the district financial system, typically by the bookkeeper. Public fund accounting rules require revenue to be broken down by account code, and SchoolInsight provides reporting for each deposit.
District Main > Online Payments > Payrix Disbursements > Account Code Breakdown
Typically districts receive disbursements into the district general fund bank account. They may maintain separate bank account(s) for student activity accounts, and will transfer funds after receiving disbursements. Each transfer may include multiple disbursements, and bookkeepers combine account code subtotals from the above report, calculation of which can be complex and time consuming.
To make this task easier, we added a new report, “Payrix Revenue Account Codes” which provides the account code breakdown across multiple disbursements. So if a customer receives weekly disbursements, but transfers funds to the activity account monthly, this report will help with the math.
District Main > Online Payments > Payrix Revenue Account Codes
The report provides subtotals by account code of all disbursements inside the date range.
For each account code, the report offers details of individual transactions and disbursements.
We hope this new report will help save time for our bookkeepers.
The Common Goal Team
