Installments is an optional feature that gives families a choice to pay the registration in multiple installments.
Installment Page
From the Catalog / Installments menu, you will find a list of installments created for that season.
From the search box, you can enter partial or full to filter the display on screen.
You can click on the directional arrows to sort by that column.
The list of Installments will be displayed.
Title - the title of the installment
Initial payment - the amount of the initial payment
Installments - the details of the installments and dates
Status - the status of the installment
Adding Installment:
Click on Installments from the list of options under the Catalog / Finances section
Click +Add
Choose between Add or Rollover
Add a New Installments
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 registration.
Installments: Determine the number of installments you want. The number of installments does not include the initial payment, it is the number of installments you are offering as a payment plan for your registration.
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. The % of installments needs to add up to 100%.
Date: Enter the date you would like to receive each installment.
Click on Save.
Rollover from Past Seasons
Use the drop down to select a previous season to copy from
Click Search
Click Next
Select the installments you want to copy, or click on Select All
Click Next
Review the installments, if you need to make a change to the ones you want to carry forward, click Previous
Click Create
Modify Installments
Note: Installments can only be deleted if they have not applied to any registrations.
Once an installment is created, no changes to the amounts or dates can be made.
To change the status of an installment, click on the line item to open the side panel. Use the blue pencil to change the status to Inactive.
By clicking on the Action button on the side panel, you have the option to delete it.
Installment Calculations
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