Overview

1. How to create Payment Plans
   
2. How to add a payment plan in a program instance
   
3. How to select payment plans in Enrolments

Step Tutorial

 

Creating a Payment Plan

1. To create your Payment plan, go to Finance in the side menu. Go to Payment Plans tab and click New.
   
   
   
   
2. Complete the fields in the Payment Plan modal.
   
   
   
   
1. Name - Enter a name for the payment plan. Pro Tip: Use a name that is easily identifiable. 
   
2. Description - Enter a description for the payment plan. 
   
3. Active - switch off the toggle to make the payment plan inactive. This is defaulted to Active.
   
4. Create - click create to create the payment plan and add the rules.
3. Once created, the payment plan will now appear in the Payment Plan data table. Use the Search bar to locate the newly added payment plan or navigate to the last page of the table to edit the payment plan. 
   
   
   
   
4. Click Add Rule to add the Payment plan rules. Payment plan rules defines the rules for when payments for the program fees are due to be collected/paid.
   
   
   
   
5. Complete the Payment Plan Rule Details: 
   
   
   
   
1. Amount - enter the payment plan amount. 
   
2. Select the unit - select whether the amount is a dollar amount, a percentage of the remaining balance or a percentage of the total balance.
   
1. $ - the specified amount will be charged when the payment plan becomes due
   
2. % of remaining - the specified amount percentage from the remaining balance will be charged when the payment plan becomes due
   
3. % of total - the specified percentage from the total program fees will be charged when the payment plan becomes due. 
3. Type - select the payment plan type. The payment plan rule type specifies the condition for the payment rule. There are multiple payment plan types available. Refer to the table below for more information on the payment type. 
   
   
   
   
4. Description - enter a description for the payment rule e.g. Upfront payment, down payment, deposit, Final payment, Initial payment etc. 
   
5. Rule Order - select the rule order for this payment plan rule. The rule order will determine when the invoice for this payment plan will occur. 
   
6. Add Another Rule - tick box to select if another rule will be created after submission of the payment plan rule. 
   
7. Submit - button to submit and save the created payment plan rule. 

Payment Plan Rule Types

1. Upon Enrolment - invoice is due upon enrolment of the student. 
   
2. Upon Program Start date - Invoice is due on the specified program start date
   
3. A number of days after the start date - Invoice is due on the specified number of days after the start date (number of days needs to be entered on the days field)
   
4. A number of weeks after the start date - Invoice is due on the specified number of weeks after the start dat  (number of weeks needs to be entered on the week field)
5. A number of months after the start date - Invoice is due on the specified number of months after the start date (number of months needs to be entered on the months field)
6. After halfway through the program - Invoice is due halfway through the program (based on the duration of the program)
   
7. At the completion of the program - Invoice is due at the completion of the program (enrolment status is Completed)
   
8. At the expected completion of a number of unit of competencies - Invoice is due once the specified number of unit of competencies is completed (number of Unit of Competencies required to be completed needs to be entered on the field)
   
9. Upon Unit of Competency Start Date - invoice is due based on the start date of a Unit of Competency 
10. Upon Unit of Competency End Date - invoice is due on the end date of a Unit of Competency
    
11. A number of days from now - invoice is due based on the number of days from enrolment (number of days needs to be entered on the days field)
    
12. Invoice after completion of Unit(s) - invoice is due once specified units are completed (Unit/s of Competencies needs to be specified in the Program instance once Payment plan is added)
    

Sample Payment Plan Rule for Upfront Payments

1. Set dollar amount corresponding to the total program fees.
   
   
   
   
   
2. 100% of the Total fees - setting this Upfront payment rule with this amount will allow you to use the payment plan for different programs with different program fees. 
   
   

Sample Payment Plan with Multiple Installments

Important Note: Different Payment Plan Rule types can be used to achieve the desired payment installment conditions and due dates. It is important to ensure that the payment plan total is aligned with the program fee total in order to use the payment plan for a program instance. It is best practice to have a payment schedule planned out and the program fee information ready when creating your payment plans. 

Adding a Payment Plan to a Program Instance

1. To add a Payment plan to a Program Instance, go to Programs > Program Instance > Financials > Payment Plans. Click New. 
   
   
   
   
   
2. From the dropdown, select the payment plan option. Ensure that the selected payment plan total aligns with the total of the Program fees. Select the payment plan.
   
   
   
   
3. Multiple Payment plans can be added to a program instance to provide your students with payment options during enrolment. Information on the payment plan can be viewed by clicking on the expand button. 
   
   
   
   
4. Payment plans can be removed by clicking on the X button, while the $ Dollar button allows users to set up additional conditions for the payment plan (e.g. Unit of Competencies for "Invoice after completion of units" payment plan rule type.)
   
   
   
   
5. Once all payment plan options are added, click update to save the changes. 

Selecting Payment Plans during Enrolment

Students have the option to select a payment plan more suited to their financial situation or preference during enrolment. In the External enrolment form, if program instance has multiple payment plans added, students can select their preferred payment plan in the Payment stage. If only one (1) payment plan was added to the program instance, the Payment plan field will default to the single payment plan. 

Note: During manual enrolment, administrators can also select the payment plan applied to the student in the Enrolment Wizard under Payments.