Enrollsy allows you to add any number of Payment Plans to your Enrollment Periods. Any Program or Class within that Enrollment Period can use that Payment Plan. In this article, we'll review what a Payment Plan is and how to apply it to a Program or Class.
What is a Payment Plan?
Payment plans are payment events that happen on a given date/time. Payment Plans do not have a price associated with them; instead, they are simply the payment events themselves. Enrollsy allows for three types of Payment Plans:
Scheduled
Installment
Subscription
Since Payment Plans are tied to date/time, they are created inside an Enrollment Period. When you duplicate an Enrollment Period, you currently cannot duplicate the Payment Plans in that Enrollment Period. Let's look at each type of Payment Plan and when to use them.
Important Information about Payment Plans
Important Information about Payment Plans
Payment Plans are attached to the Program or Class. When you change someone's Enrollment (re-enrolling into another Program or Class, re-assigning to another Class or the Unassigned list, etc.), the original Payment Plan becomes invalid. While we have intentions to automate (or semi-automate) this in the future, for now, changing Enrollments requires additional effort to ensure everything works as expected for those who selected a Payment Plan at the time of enrollment.
Deactivated Enrollments remove Payment Plans. If the Enrollee is moved to another Program and the previous enrollment is deactivated, any Payment Plan that was attached will disappear from the Enrollee's Billing page. If the enrollment is deactivated and deleted, both the enrollment and the billing will disappear.
BE CAREFUL when changing the pricing on Programs! If Admins change the pricing on a Program from program pricing to class pricing (or vice versa), your current Enrollees could lose their current Payment Plans/Invoices.
Admins must manually add Invoices and/or Payment Plans to new enrollments. This means that after you move an Enrollee to a new Program/Class, you will have to create an Invoice for any fees currently due (i.e., "Due at Enrollment") or add an individual Payment Plan to their account.
Scheduled Payment Plan
Scheduled Payment Plans are best for Programs or Classes where the total price needs to be split up into payment events, which are amounts due on specific dates (amounts and dates are selected by you).
Proration is available on this plan because the period between payment events is known and fixed. You can make any number of Scheduled Payment Plans with frequencies of:
Weekly
Weekly every 2, 3, 4, 5, 6 weeks
Monthly
Monthly every 2, 3, 4, 5, 6 months
Annually
You can also create different pricing amounts for the other dates instead of equal payments. Tuition is an excellent example of when to use the Scheduled payment plan.
Examples of a Scheduled Payment Plan
Examples of a Scheduled Payment Plan
EXAMPLE 1
Let's say a school offers a few different tuition options for a Program that costs the following:
$1,900 when paid in full (includes a 5% discount)
$2,000 when paid monthly (no discount)
$,1960 when paid in two payments (includes a 2% discount)
Since the paid-in-full option is the default option, you will need to create the following Scheduled Payment Plans:
Monthly Payment Plan = Monthly payments of $200 made each month from August to May of the school year (you pick the dates)
Semester Payment Plan = Payments of $980 made at the start of each semester (you pick the dates - includes a 2% discount)
EXAMPLE 2
Another good candidate for Scheduled Payment Plans includes charging fees based on the number of a particular day(s) in an upcoming or current month.
Let's say you teach private tennis lessons, and you offer lessons Monday - Saturday. You want to charge the customer on the first of the month for the number of lessons they will have in that month. In this example, there might be 1, 2, 3, 4, or even 5 Mondays in a month when lessons are taught (taking into account how the weeks fall into the month, holidays, breaks, etc.).
In this case, create a new Payment Plan called Mondays - Private Lessons and add 12 payment events (one each month on the 1st of the month).
TIP: It may help to note the number of Mondays in each month. Then, you can easily add pricing to this Payment Plan in each Program based on those numbers. Repeat these steps for each day you teach lessons.
See this support article for the steps to create a Scheduled Payment Plan.
Installment Payment Plan
Installment Payment Plans are best for Programs or Classes where the total price needs to be invoiced upfront, and the balance gets paid down over time, regardless of attendance or consumption.
Installments allow customers to pay off a balance, which is accrued in full at enrollment. You have two options when creating an Installment Payment Plan:
1. Starting From Enrollment
Make a set number of payments in fixed intervals starting from the date of enrollment (weekly, monthly, etc.).
For example, you can create an installment plan for a Program/Class that costs $2,000. The plan requires a $400 payment made monthly for five months. When someone enrolls on January 19th, they make their first installment payment of $400. Then every month for the next nine months, they will pay $400 on the 19th of that month.
2. Until Fully Paid
Make a dynamic number of payments in fixed intervals (weekly, monthly, etc.) based on an end date. Payments will be divided equally depending on the number of intervals remaining at enrollment.
For example, you can create an installment plan for a Program/Class that costs $2,000. The plan requires that all installment payments be made by July 15th. In this case, people who enroll:
On or before January 15th, will make seven equal payments of $285.71
After January 15th but before February 15th, will make six equal payments of $333.33
After February 15th but before March 15th, will make five equal payments of $500.00
And so on...
See this support article for the steps to create an Installment Payment Plan.
Subscription Payment Plan
Subscription Payment Plans are best for Programs or Classes where the price of the Program/Class gets invoiced and paid on a fixed frequency that recurs from the date of enrollment until canceled (Monthly, weekly, etc.).
For example, you can create an installment plan for a Program/Class that costs $2,000. The plan requires that all installment payments be made by July 15th. In this case, people who enroll:
On or before January 15th, will make seven equal payments of $285.71
After January 15th but before February 15th, will make six equal payments of $333.33
After February 15th but before March 15th, will make five equal payments of $500.00
And so on...
See this support article for the steps to create a Subscription Payment Plan.
Add Payment Plan(s) to Enrollment Periods
Step 1 - Click on the money/clipboard icon under the Enrollment Period, then click "+New" to create a new Payment Plan.
Step 2 - Choose one of the following types:
Schedule - scheduled on a calendar
Installments - a set or dynamic number of payments until paid in full
Subscription - payments repeat from the enrollment date
Step 3 - For each of the above types, you will need to ATTACH the payment plan to the Program(s) in the Enrollment Period by following these steps:
Click on Add/Remove Payment Plan
Select the appropriate Payment Plan under the correct tab (Scheduled/Installments/Subscription)
After adding the plan, make sure the amounts are correct. See this support article for how to edit pricing on Payment Plans.
Here's what this looks like within the Program Editor:
