Flexible Payment Schedule

The school is able to generate dynamically the payment schedules on different topics. It supports the discount feature to student on fixed amount or percentage basic under each payment topics. Eg: if the payment is made earlier like the tuition fee payment on first week for the month. The system also supports the late fee charge under some conditions (eg: invoice due crosses certain time limit). These options are optional. The discount and late fees can be applied by fixed amount or by the percentage of the actual scheduled amount.

The payment schedule can be created per grade levels so that each payment title can have different amount for different grade levels. Eg: The monthly tuition fee can be different for different grade levels. This allows flexibility to create all possible payment titles.

Payment Type: Fixed Amount of Recurring

The Payment Type* option allows if the payment is going to be one time or recurring. If the payment is recurring, Then we have option to choose the recurring amount, frequency, Next schedule date and remaining number of schedules.

Extra Charge Settings

The system is flexible enough to support any number of conditional extra charges under the specific payment title. You will just need to define the Extra Charge Rule Name, Charge amount type which can be fixed or by percentage, The particular grade level to which you want to add the extra charge and the condition under which like some days of unpaid invoice this late payment will be applied.

You can define as many such rules as you like.

Discount Rule Settings

Similar to the extra charge settings, you can define as many discount features as you like depending on the condition of earlier payment.

Once these payment schedules are setup for the grade levels, All the students assigned to that grade levels will be billed accordingly.

What for offline payment like Cash Payment?

Yes you can. We have another section of Manual Bill Entry. This section manages the payments which are made out of this system eg: On site cash payment. You just select the Student Name, Pending Invoice Item, Amount and you are done.

Monsterweb Planner keeps all these records forever for you. Is not it cool? Give a try and experience it by yourself for free.