Description

The Default Currency setting determines the primary currency used throughout the Billing & Fees module. All fee amounts, invoices, billing schedules, payment records, and financial reports are displayed using the selected currency unless otherwise configured.

Setting the correct default currency ensures consistency across financial transactions and provides a standardized billing experience for administrators, students, and parents.

Navigation

Settings → Billing & Fees → Default Currency

Configure the Default Currency

1. Navigate to Settings → Billing & Fees → Default Currency.
2. From the Default Currency dropdown, select the currency your institution uses for billing.
3. Review your selection to ensure it matches your institution's financial requirements.
4. Click Save.

The selected currency becomes the default currency for Billing & Fees transactions.

Available Currency Information

Each currency includes:

• Currency Name
• Currency Code (ISO Standard)
• Currency Symbol

For example:

The available currencies depend on the currencies supported by openSIS.

Where the Default Currency Is Used

The configured default currency is reflected throughout the Billing & Fees module, including:

• Student fee assignments
• Billing schedules
• Fee invoices
• Payment records
• Receipts
• Financial reports
• Subscription billing
• Online payment transactions

Using a consistent currency helps avoid confusion and ensures accurate financial reporting.

Best Practices

• Select the default currency before configuring fee types and billing schedules.
• Ensure the selected currency aligns with your institution's accounting system.
• Verify that your online payment providers support the selected currency.
• Avoid changing the default currency after active billing records have been created unless required by your institution's financial policies.

Notes

• Only one default currency can be active at a time.
• Changing the default currency affects future billing transactions.
• Existing financial records may continue to display the currency that was in effect when they were created.
• If QuickBooks integration is enabled, ensure the selected currency is compatible with your QuickBooks company settings.

Expected Outcome

The institution's default billing currency is configured, ensuring that all future financial transactions, invoices, and payment records use a consistent currency throughout the Billing & Fees module.