For organizations that use Online registration only.
Installments is an optional feature that gives families a choice to pay the registration in multiple installments.
To add a Installment: click on “Installments” from the list of options under the Finances section, then click ‘Add’. Enter the % for the initial payment and decide on the number of payment, . You can define the percentage (%) and dates for each installment that follows.
Example: Your registration is $500. At the time of registration, you want to collect 50% of the registration, and you allow the rest to be divided into 2 equal payments.
Initial Payment - 50% = $250
Outstanding balance - 50% = $250
Installment #1 - 50% of the outstanding balance= $125
Installment #2 - 50% of the outstanding balance = $125