Set up payment plans for your organisation

MySchool tuition management module has the possibility to 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 as 0. If it is the following calendar year, choose +1.
• 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.

Applying the payment plans to the payers

On the finance tab of the payer, 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

In the default lite view. Use the people picker to select your target students 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 your preview of your customers and their corresponding invoices.