Akada enables you to quickly process credit card payments for customers who have opted for recurring billing, also known as "autopay." Recurring billing streamlines tuition payments by enabling cardholders to save their card information for automatic payment on due dates. However, the studio must initiate this process by posting credit card payments for accounts marked for recurring billing. This ensures the studio maintains control while simplifying payments for parents.
Overview of Recurring Billing
The recurring billing feature in Akada, also referred to as "autopay," enables cardholders to save their payment information on file for automatic processing. While convenient for parents, this feature requires studios to manually initiate the process, distinguishing it from fully automatic autopayment systems.
How Does the Process Work?
Studio Initiates Billing Cycle
The process begins when the studio posts credit card payments for accounts enrolled in recurring billing. This prompts the system to charge saved cards for outstanding balances, streamlining the process while still requiring a studio-driven action to initiate the billing cycle.
To Post Recurring Credit Card Payments:
Key Distinction from Fully Automatic Payment Systems
Unlike traditional autopayment systems, Akada's recurring billing offers a semi-automated approach. Studios maintain control by selecting accounts and triggering the process while enjoying the convenience of automatic charges once the process has begun.
From any page in Akada, select the Charges & Payments tab.
Select Post Credit Card Payments on the right.
Select the charge types to be included by checking or un-checking the boxes.
Set a date range and click the "Set Dates" button when you're done.
Benefits of Akada's Recurring Billing
Enhances security and compliance with modern financial regulations through Stripe integration, ensuring all card data is securely handled.
Simplifies back-end routing by automatically directing payments through Stripe, reducing setup complexities.
Simplifies payments for parents by eliminating manual transactions each month.
Allows studios to schedule and control payment cycles, ensuring flexibility and oversight.
Important Considerations
Recurring billing works only for accounts with saved payment information.
Payments are not fully automated; studios must initiate the process to ensure a successful outcome.
Use the drop-down to choose the types of Billing accounts to include. (Will automatically default to recurring billing accounts)
Choose the Recurring Date (or group) number. (Because some parents have already selected this option, they automatically were set in Group 1.)
Enter the description you wish to appear for the payment on the customer’s transaction page.
Enter the CC fee info if applicable to your studio.
Check the boxes to include parent 1 or 2 in receipt emails.
Select the Email Receipts and Declined Credit Card boxes. You can edit the declined message by selecting Edit.
Select Preview Credit Cards, scroll down, and view all the accounts and the amount to post to their credit cards*. From here, you can adjust the amount to be charged if necessary. Just click on the Amount box and enter the correct amount.
Now you're ready to click on Post Credit Card Payments. The payments will be queued and finalized in the order received.
Your payments are now queued and will be finalized in the background. You can now proceed to your next item; with payments processing in the background, you no longer have to wait on the posting credit card payment page.
*Clicking the arrow next to the name will display the charges in the total payment amount.