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(Re) Enrollment Contract Invoice / Payment Setup
(Re) Enrollment Contract Invoice / Payment Setup
(Re) Enrollment Contract Invoice / Payment Setup
The various Invoice and Payment options for the
(Re) Enrollment Contract Settings
are specified on the Contract > Settings page in the “Invoice / Payment Setup” section.
Submission Type
determines whether the
(Re) Enrollment Contract
creates one or two invoices. The reason you will typically choose one option over the other usually depends on how you want the payment term to work. Will the payment term include the initial deposit, or not? If not, then you would use the split invoice option.
- Split Invoice creates an invoice for the deposit amount and a second invoice for the rest of the tuition and fees to be paid. If you are using the Auto Post Invoice option, only the first (deposit) invoice is posted.
Note
: If you are specifying an
Invoice For Date
, both the deposit invoice and the contract invoice are issued on that date.
Note
: With a split invoice, it is easier to handle a non-refundable deposit. If the student decides not to attend, you can simply void the second invoice, and the deposit still pays the first invoice.
- Single Invoice with Payment creates a single invoice for the entire tuition amount, including the deposit amount. The deposit is just a payment against this invoice, so when the deposit is made, it partially pays the invoice.
Note
: The payment term for the invoice should have the first payment be for the deposit amount due immediately.
Note
: The invoice fiscal year is determined by the
Invoice For Date
setting which is typically set for the first day of your next fiscal year so that all revenue is reported for the next year.
Receivable Account
is the Accounts Receivable account which is used by invoices and deposits.
Auto Post Invoices
automatically posts the invoice after is has been created. If you are using the “Split Invoice” option for
Submission Type
, only the deposit invoice is posted.
Note
: If you are using
Auto Post Invoices
, particularly with a future
Invoice For Date
, make sure the fiscal year for that date is set up and open in Finance!
Charge Any Due Scheduled Payments
includes any payments that are due today or overdue as part of the contract submission payment based on the invoice payment term. This payment is in addition to any required deposit.
Hide Payment Schedule
hides the payment schedule on the summary page and the pdf. The payment schedule is based on the invoice's payment term.
Pay by Check
does not require a payment at the time of
(Re) Enrollment Contract
submission. Instead, the parent agrees to mail a check or otherwise pay at a later time.
Echeck
Payment Configuration
allows parents to pay by Echeck using
Automated Payment Processing
.
CC
Payment Configuration
allows parents to pay by Credit Card using
Automated Payment Processing
.
Note
:
Automated Payment Processing
includes information regarding the General Ledger accounts, Deposit, Unearned/Deferred, Convenience Fee, and other information. To record
Stored Payment Info
for customer payments, specify the desired type for the
Stored Payment Type
in the
Automated Payment Processing (Finance)
.
Note
: Different payment processors may accept only certain credit cards, or may/may not support ECheck payments. The payment processor may also let you choose which credit cards or payment methods you accept. Please contact your payment processor for support.
Test Mode
is used to run the selected
Payment Configuration
in test mode. This allows you to test the
(Re) Enrollment Contract
without actually accumulating charges.
Note
: Make sure to turn this off before you go live with the
(Re) Enrollment Contract
!
Note
: Invoices and deposits will still be recorded in Finance.
Invoice For Date
allows you to specify a specific date that the invoice is issued. If this date is not specified, the current date is used for the issued date. Typically you specify this date for the start of the next fiscal year. The reason to do this is so that all revenue on the invoice is reported in the next fiscal year.
Note
: This setting is used in conjunction with the
Unearned/Deferred Account
to ensure that Accounts Receivable is not underreported between the initial deposit date and this
Invoice For Date
.
Note
: Make sure the fiscal year for the
Invoice For Date
is set up in Finance, or invoices cannot be created.
Deposit Invoice Internal Memo
is the internal memo as it appears on the Deposit invoice. This is applicable only for split invoices only. If unspecified, the default value is "Deposit Invoice".
Contract Invoice Customer Memo
is the customer memo as it appears on the invoices. This memo shows on the customer statements and is used to clarify what the invoice is for.
Example
: "Contract 2010/2011"
Contract Invoice Internal Memo
is the internal memo as it appears on the Contract invoice. If unspecified, the default value is "Contract Invoice".
Invoice
Attribute
is an attribute to associate with the
(Re) Enrollment Contract
invoices.
Note
:
(Re) Enrollment Contract
invoices are identified in Finance > Contracts > Student Contracts by matching the
Invoice
Attribute
for the
(Re) Enrollment Contract
to invoices with that same attribute.
Note
: You should have a new attribute each year for
(Re) Enrollment Contract
invoices. If you reuse the attributes year to year, the software will not be able to properly distinguish which invoices are for which
(Re) Enrollment Contract
, and the totals in Finance > Contracts > Student Contracts will include invoices from multiple
(Re) Enrollment Contract
years.
Note
: Additional Invoice
Attribute
s are added by navigating to Finance > Maintenance > Customer Invoice
Attribute
s.
See also
Automated Payment Processing (Finance)
(Re) Enrollment Contract Settings
Automated Payment Processing
(Re) Enrollment Contract
Payment Configuration
Stored Payment Info
Stored Payment Type
Attribute
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