Effectively managing student payment plans is essential for maintaining financial clarity and ensuring timely payments. This article will guide you through the process of editing and customizing payment plans, including navigating the various tabs and features available.
Quick Navigation:
Accessing the Payment Plan
To get started, navigate to the Financials tab within the student's profile. Here, you will find a list of existing payment plans as well as the option to add a new payment plan.
Navigating Payment Plan Details
Once you've selected a payment plan, you can access several tabs to manage its details:
Details Tab
In this section, you can:
View the Associated Product: While you can check the product linked to the payment plan, it cannot be changed.
Change the Name: Update the name of the payment plan as needed.
Control Visibility: Choose to Publish payment plan or Unpublish payment plan . Plans are unpublished by default, allowing staff to work privately until they are ready for student access.
Reviewing Fees
The Fees tab provides a comprehensive list of fees associated with the selected payment plan. The following columns are available:
Description: The name of the fee.
Reference: A unique code generated by Full Fabric for each fee.
Due Date: The deadline for that fee.
Currency: The currency selected for that fee.
Subtotal: The total before any discounts are applied.
Discounts Applied: The amount or percentage of any discounts applied.
Discount Total: The total amount subtracted due to discounts.
Total: The final cost after discounts.
State: Indicates if the fee is Paid, Not Due, or Overdue.
Outstanding: The remaining balance due for that fee.
Paid: Total amount paid so far.
Payments may be split into multiple transactions. For example, if a student owes €500 but has paid €400, they will still have an outstanding balance of €100.
Adding Additional Fees
To add more fees directly to the Profile Custom Payment Plan, click the Add Fee button at the top right. Setting up additional fees is similar to adding fees on the payment plan template.
Deleting a Fee
You can delete any fee by clicking the trash can icon at the end of the specific row.
Managing Fees
To modify fee details, click the gear icon at the end of each row. In the Fee Details tab, you will recognize fields such as Description, Due Date, and Currency—all of which can be easily edited to fit your needs.
Transaction Tab
In this tab, you can review all transactions associated with each fee. Transactions can be manually added or automatically updated if payments are processed via Full Fabric and its integrated gateways.
List Columns in Transactions:
Description: Name of the fee.
Payer: Who made the transaction (Applicant, External, or manually by staff).
Payment Plan: Name of the associated payment plan.
Fee: Name of the associated fee.
Currency: The currency of the transaction.
Amount: The amount transacted.
Date: When the transaction occurred.
Reference: Unique identifier for tracking purposes.
State:
Canceled: When a transaction did not go through.
Guaranteed: When payment is confirmed by the gateway.
Success: Final confirmation of successful transaction.
Gateway: Displays the name of the gateway used for processing.
Discounts Tab
This tab allows you to:
Apply a discount template or create a personalized discount.
View a summary of discounts applied to the payment plan.
Adding Discounts
To add a discount:
Click on the Add Discount button at the top right corner.
Choose between selecting a discount template or creating a new one:
For a discount template, select one from the list and click on Create Discount.
To create a new discount, fill in the required fields:
Description: Provide a brief name or description for the discount.
Type: Specify whether it’s a Percentage or Fixed Amount discount.
Set values based on your selection (Percentage/Amount).
Select which fees should receive this discount; multiple discounts can be applied within one payment plan.
Once completed, click on Create Discount. You may need to refresh the page for recent updates to appear.
Notes Section
Utilize this area to add comments or notes regarding specific aspects of the payment plan for future reference. For example: "Added a discount due to Early Bird campaign participation." This section functions similarly to notes in the profile's Latest Activity tab.
Auditing Tab
In this tab, you can view an audit history of changes made to the payment plan. This includes timestamps and details about who made modifications such as fee deletions or creation dates.
By following these guidelines, you can effectively manage and customize student payment plans within your system. Regularly reviewing these plans helps ensure financial health while providing students with flexible options for their payments. If you have any questions or need further assistance, please reach out to our support team!
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