The second step involves setting up the payment subscription method. You can either set it as a one-time fee or a repeating one. Let’s get into details,
There are a couple of fields that need to be filled in,
- Dates: You have to select a start and end date for your fee collection. These dates have to be within the range of the academic year. If you are going for a recurring payment method you will have to set the start date and end date for the range you want to keep collecting the fee.
- Divide: In case of recurring payments you can either choose to collect the amount you entered in step 1 every interval or even split that amount into the number of intervals you set. Check this box to split the amount by the number of intervals.For example, say you entered an amount of 1000 in step 1 and your subscription is half-yearly (collected every six months, number of recurring payments: 2). Checking this box will split the 1000 by the number of intervals (2) and invoices will be generated for each half with an amount of 500.
Payment interval: You can either choose the payment to be one-time or recurring. For one-time simply select a due date. You will be able to send reminders to students and parents who haven’t made payments past the due date. You can also choose a recurring interval.
There are 5 options for recurring intervals,
Half-Yearly: Collected twice (every six months)
Quarterly: Collected 4 times (every three months)
Monthly: Collected every month (set a day for due date)
Weekly: Collected every week (select a day for due date)
Custom: Create your own custom due dates. Click on ‘Add custom due date’ to add a new date and the trash icon to delete(you will need to have at least one).
Click the submit button once you are done configuring your subscriptions. This will create the Fee category only. You will have to generate the invoices separately from the Fees dashboard.
Note: If you skip step 2, you can always come back and continue using the ‘Create Subscriptions’ link next to your Fee category in the fees dashboard.