Module 7 - Financial Agreements (Intro only)

Video Summary

• Financial agreements are the third way to create customer charges.

• Charges are posted when the admin clicks Publish on a signed financial agreement.

• Financial agreement workflow:

  • Admin creates agreement

  • Admin finalizes and sends it

  • Family signs it

  • Admin publishes it

• Publishing automatically:

  • Posts charges to the customer account

  • Creates a multi-category transaction entry

• Agreement details can include:

  • Tuition charges

  • Fees

  • Discounts

  • Multiple categories/accounts

• Clicking Details on the transaction shows the itemized charges.

• Non-Payment Plan charges (like fees) create invoices immediately.

• Tuition charges tied to Payment Plan accounts remain un-invoiced until the customer is enrolled in a Payment Plan.

• Before enrollment in a payment plan:

  • Charges exist on the account

  • No invoices or payment reminders are generated

• Enrolling the customer in a payment plan:

  • Automatically creates invoices

  • Splits tuition into scheduled payments

• Invoices and balances can be verified in the customer’s invoice tab.

The Next Video - Charges, Pt. 4 - Custom Financial Forms