Automated Payment Processing (Finance)
Posted May 23, 2019
Automated Payment Processing can be initiated automatically or by your finance staff. The typical cycle follows this process:
- Parents/Students sign up for automated payments during enrollment and specify their preferred credit card or eCheck. During this time they are able to select available payment plans based on the plans offered by your organization. In some cases it means that they have multiple options such as monthly, yearly, semi-annually. In other cases, you may specify that the total amount due will be collected by a certain date unless the payment is received earlier. Note: When parents enroll for auto-pay through the (re)enrollment contract, their existing stored payment information associated with the same Stored Payment Type will be overwritten. If you wish to allow parents to use different stored payment information for each year, you must create a different Stored Payment Type for each year. Please see Auto-Pay Configuration (Finance) for more information.
- Parents/Students update their preferred credit card or eCheck through their portals using CMS Website in case their information changes.
- Process payments:
-If manual setting is used, finance staff need to select all AR Customer Invoices that they want to process and use the multi-action Auto-Pay to verify the charges and initiate the charge.
Note: The “review invoice” step provides the opportunity to review the invoices which are being charged, and exclude individual invoices at this time by unchecking the checkbox.
Note: The “process payments” step shows a summary of every payment which will be made. The “Amount” is the total of the invoice amounts to be paid. The “Fee” is the convenience fee which will be invoiced, if applicable. The “Total” is the actual amount which will be processed and is the sum of the Amount and Fee.
Note: The “process payments” step shows a summary of every payment which will be made. The “Amount” is the total of the invoice amounts to be paid. The “Fee” is the convenience fee which will be invoiced, if applicable. The “Total” is the actual amount which will be processed and is the sum of the Amount and Fee.
Note: The processing of payments after the submit button is pressed may be a long running process as each payment request needs to be submitted to the Payment Processor and the result returned.
-If auto setting is used, all customer invoices that match the configuration are processed automatically.
- Whether the Auto-Pay is run manually or automatically, after the payments are processed, review the Auto-Pay Results (Finance) to see if there were any unprocessed items.
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