Can the finance module handle over payments of invoices that can be credited to a student/ parent?
Yep. This is quite common. You can register negative payments and credit the amount e.g. to another invoice.
Yep. This is quite common. You can register negative payments and credit the amount e.g. to another invoice.
could you clarify with example how to do this
Yes @meierrom I would also be interested to know what you mean by “register negative payments”
Yes @meierrom I would also be interested to know what you mean by "register negative payments"
All right, let me try. 
An over payment happens when too much money is collected for a specific invoice, e.g. we do have a total amount collected of 190 USD instead of just 160 USD according to the invoice. To correct this, we register a negative payment of -30 USD to balance the invoice correctly. The negative value of the same amount, which is +30 USD can then be used as a payment for a different invoice for the same invoicee or the amount is simply returned to the invoicee.
I hope, I’m not creating more confusion. More questions are welcome tho.
Thank you. I understand what you are saying. And I would need to track the over-payments manually since there isn’t any easy way to pull up over payments across all invoices issued for a given invoicee?
There is. Use the Query Builder to get the list of all invoices with over payments. 
Can you help me out with the Query you use. Thanks 
It was just a suggestion. I don’t use a query for that. Maybe I should
Try and come up with something. I’ll then have a look at it, ok?
Many thanks