Aligned Student Accounting
Vocado Student Accounting offers views into all student general ledgers, payment schedules, and revenue ledgers. Micro-reconciliation ensures deposits are reconciled against bank statements before payments affect ledger balances, increasing accuracy and reducing errors. Accounting periods can be closed and revenue recognized. Checks can be issued and EFTs made.
Key School Optimizers
Predictable Cash Flow – Know when funds will be received from students, the Department of Education as well as other third-party funding sources. Vocado Student Accounting recalculates projected disbursement dates for all funds nightly based on each student’s academic progression and any LOA or school holidays/closures.
Predictable Revenue Recognition – Several revenue recognition methods are available. Intelligent monthly recognition method provides regular, predictable revenue information for easy and accurate forecasting.
Integrated Reconciliation Process – Micro-reconciliation with each G5 drawdown ensures all discrepancies are resolved, funds are appropriately administered, and ending cash balance is $0 after each drawdown. Automatic alerts are generated for any funds requiring reconciliation and to ensure funds are appropriately moved to their proper accounts during the disbursement process.
Automated Institutional Refund Calculation – Institutional refund policies can be customized and implemented in Vocado. Upon student exits, ledgers are automatically adjusted and refunds issued, if any are required.
Automated Student Payment Plan Management – Gaps in student funding are detected and student payment plans are automatically created and tracked.