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 or modify an installment, go to the Catalog menu and select Installments.
To add a Installment:
Click on Installments from the list of options under the Catalog / Finances section
Click Add
Complete the requested information:
Fields marked with an * are required
Title *: Add a name to your installment.
Initial payment (%) *: Enter the amount of the initial payment. This is the amount that will be charged at the time of online registration.
Installments: Determine the number of installments you want. The number of installments does not include the initial payment, so this is the number of installments desired after the registration payment.
Value (%): Based on the number of installments selected, the system will calculate the percentage for each installment. However, you have the option of changing the percentage entered.
Date: Enter the date you would like to receive each installment.
Click on Save.
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