Tuition management module - Set up payment plans for your organisation

MySchool's tuition management module can offer payment plans for your customers.

If you wish to offer payment plans, all customers must have a plan attached. If they wish to pay in bulk, you create a single-period payment plan with 100% of the invoiced amount. When creating your invoice run, the system will check and create the invoices accordingly.

Creating a payment plan

Add a schedule slot depending on your agreed plan.

• Choose a date for the expected payment. Your payment terms will apply to this (i.e., days before the invoice is overdue).

• If the payment period is within the same calendar year, leave it as 0. If it is the following calendar year, choose +1.

• These dates will respect the academic year, so the payment in August will be for the current academic year, and May will still be in the current academic year.

• Choose an appropriate weight for the payments. If the first period should have a larger weight, then this will show the % calculated for each period.

If you wish to add a payment plan discount to encourage your customers to sign up to the option, activate the slider for the following options;

A percentage rate or a minimum flat fee will be applied as a line item to the invoice when generated within the payment period.

Applying the payment plans to the customer

On the finance tab of the customer, there is an option to choose the payment plan to assign to the customer.

Choose the preferred option from the list.

Raising an invoice with payment plans

NB: To activate the payment plan slider on the invoice, you must have an active payment plan set to default.

In the default lite view. Use the people picker to select your target students who have been invoiced. Determine whether you would like to use the payment plan for this invoice. Choose a pre-created fee or create an ad hoc fee. Then build a preview of your customers and their corresponding invoices.