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Auto-Pay Configuration (Finance)
Auto-Pay Configuration (Finance)
Auto-Pay Configuration (Finance)
Auto-Pay Configuration is a record that represents a collection of rules for payment processing for
Automated Payment Processing
, used to pay invoices using the
Stored Payment Info
, or to accept payments for Contracts or through the CMS. Navigate to Finance > Maintenance > Auto-Pay Configurations to set up Auto-Pay configurations. You need the FinanceAR Full role to access this page.
Note
: For fully automated payment processing, create a
Customer Invoice Filter
which selects the invoices to be paid. The filter should be sufficiently generic that on any given day, it selects the desired invoices to be paid.
Auto-Pay Configuration Type
determines how the Auto-Pay operates.
- Inactive: The auto-pay configuration is no longer used.
- Auto: The auto-pay is processed automatically. The Customer Invoices paid are determined by the
Customer Invoice Filter
.
- Manual: The auto-pay configuration is available when using the Finance > AR > Invoices, Auto-Pay multi-action or to accept payments for Contracts or through the CMS.
Payment Configuration
is the
Payment Configuration
used to process the payments.
Stored Payment Type
is the type used when processing payments. For Contracts and CMS if this is specified then the payment used will be recorded with the
Stored Payment Info
.
Note
: If no Auto-pay type is specified, no
Stored Payment Info
is recorded.
Note
: When paying invoices via multi-action, if a customer doesn't have a Stored Payment configured with this
Stored Payment Type
, no payment is processed for that customer.
Payment Method
determines which Stored Payment method this configuration is applicable for.
Pay Type
determines how to charge the invoice.
- Due Amounts: charges the amount due today if any, as well as any overdue amount.
- Low Balance: charges the Autoload Amount if the current balance drops below the Autoload Balance.
Note
: This is typically used to auto-charge for Lunch ledger balances.
- Overdue Amounts: charges overdue amounts only.
Pay Options
is either Per Customer or Per Student.
- Per Customer: One payment is charged per customer for all their payable invoices.
- Per Student: One payment is charged for each student for all that student's payable invoice.
Note
: If the
Application Setup
is set for
Finance Require Student
, then choose the Per Student option. Otherwise, to minimize convenience fees charged, select Per Customer.
Example
: If a customer has 3 students and 5 invoices to be paid for each student, the Per Customer option initiates only 1 charge to cover all 15 invoices. The Per Student option initiates 3 charges, one for each student paying the student's 5 invoices.
AR (Credit) Account
is the Accounts Receivable account used for the customer receipt. Note: If the desired Auto-pay configuration is for Deferred/Unearned revenue, and the “Deferred Schedule” in
Application Setup
is set to “Earn on Receipt Earn Date Only,” "Earn on Invoices Before Earn Date," or "Earn on Invoices Always," then the
AR (Credit) Account
must be set to the corresponding Unearned/Deferred Revenue Account.
Deferred/Unearned Account
is only visible if the “Deferred Schedule” in
Application Setup
is set to “No Deferral”. It represents the unearned revenue account utilized for payments designated for future invoice applications.
Note
: The
Unearned/Deferred Account
is used for deposit receipts being applied to future invoices. When you finalize the deposit, the reported Accounts Receivable balance will be adjusted from the deposit date through the invoice issued date as long as the invoice is dated later than the deposit.
Example
: In the following example, the customer paid their deposit on 6/1/2016. The invoice is issued on 7/1/2016 for the next fiscal year. The unearned account is specified as “Unearned Revenue (Tuition).” When the receipt is “Finalized,” the following transactions are added to the general ledger. This results in the AR being reported accurately during the period between when the receipt was received and the invoice is issued: AR is re-increased during the span between the receipt date and the invoice date.
Account
Fiscal Year
Date
Type
Amount
Unearned
FY16-17
7/1/2016
Debit
$1000.00
AR
FY16-17
7/1/2016
Credit
$1000.00
Unearned
FY15-16
6/1/2016
Credit
$1000.00
AR
FY15-16
6/1/2016
Debit
$1000.00
Classification
determines the classification used for customer receipts.
Deposit
choose “New Deposit” for Credit Cards. For E-Check, you may specify a deposit which will act as an Undeposited
Fund
s which never gets posted, or “New Deposit”
Deposit Account
determines which general ledger account appears on the deposit. This account represents the bank account where the Payment Processor deposits funds.
Deposit Description
determines the description which appears on the deposit.
Deposit Date
is required for the initial setup, but the current date is used when creating the actual deposit.
Deposit Classification
determines the classification used on the deposit.
Receipt Method
determines the receipt method appearing on the customer receipts.
Receipt Memo
is the public customer memo used for the customer receipts and statements.
Internal Memo
is any internal comment that is not visible to customers.
Convenience Fee
Product
is the product used to determine any convenience fee for each payment.
Note
: The convenience fee is applied as a separate invoice.
Note
: Fee information is not required.
Fee AR (Credit) Account
is the Accounts Receivable account used for the Convenience Fee invoice.
Fee Classification
is the classification used for the Convenience Fee invoice.
Convenience Term
is the payment term used for the Convenience Fee invoice.
Note
: The payment term is typically set to “Due Immediately” or similar terms.
Convenience Memo
is the customer memo that appears on the convenience fee customer invoice and customer statements.
Post Fee Invoices
determines if the convenience fee invoices are posted to the general ledger automatically.
Customer Invoice Filter
determines which invoices are eligible to be paid by the auto-pay configuration.
Note
: This field is only applicable if the
Auto-Pay Configuration Type
is “Auto.”
Note
: Customer Invoice filters are configured on the Finance > AR > Customer Invoices page. You need FinanceAR Full or FinanceAR Read to access this page.
Note
: The
Customer Invoice Filter
should only include unvoided invoices with an unpaid balance. Add additional conditions to restrict the invoices based on due dates. Additional restrictions are at your discretion.
Example
: Add additional restrictions for posted only invoices, or Contract 2018 only invoices.
Receipt Email Template
is the template for the email that is sent after their payment has been made successfully. This template is based on an email using the Finance > AR > Receipts multi-action Email. You need FinanceAR Full or FinanceAR Read to access this page.
Note
: The email is only applicable to
Automated Payment Processing
. The email will not go out when the payment is made through the CMS Portal.
Administrator Emails
are email addresses which receive a payment summary email once the payments are processed.
Note
:
Convenience Fee
Product
,
Fee AR (Credit) Account
,
Fee Classification
,
Convenience Terms
,
Convenience Memo
, and
Post Fee Invoices
are fields necessary for creating a Convenience Fee invoice. If no fee is to be charged, leave all of these fields blank.
See also
Automated Payment Processing
Payment Configuration
Stored Payment Info
Stored Payment Type
Application Setup
Product
Action
Fund
DAT
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