About the 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 chosen 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 different dates instead of equal payments. Tuition is an excellent example of when to use the Scheduled payment plan.
IMPORTANT NOTE CONCERNING SCHEDULED PAYMENT PLANS
A Scheduled Payment Plan DOES NOT charge customers for any scheduled payments they may have missed. This means that if someone enrolls AFTER any of those scheduled payment dates, they will only be responsible for the remaining scheduled payments. Any missed dates will have to be charged manually by an Admin (create an Invoice).
For example, if someone was trying to enroll after the 1st, then only the remaining payments would apply to them, and they would not owe the payment that was due on the 1st.
Example of a Scheduled Payment Plan
For example, 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)
$1,960 when paid in two payments (includes a 2% discount)
Since the Pay-in-Full option is the default option, you will need to create the following Scheduled Payment Plan:
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)
Create a Scheduled Payment Plan
Create a Subscription Payment Plan
You can create and edit Payment Plans in two places:
In the Enrollment Period settings, click the money clipboard icon as shown below.
In the Program settings under "Payment Plans," click "Add Payment Plan."
A new window will come up. Click the blue plus button to add a Plan. The following are the sections under "Add a Payment Plan":
Settings
Enter your Payment Plan label. This can be anything from simple (i.e., "Scheduled Payment Plan") to very specific (i.e., "Summer Camp 3-5s Plan"). Make sure "Scheduled" is selected (it will be light blue).
Scheduled Payments
Scroll down to the calendar and click on the dates you want the scheduled payments to be on. Those dates will be added to the "View all events" tab, where you can easily see all the scheduled payment dates.
You can also click on "Bulk add" and select either a day of the week (for a weekly schedule) or a date of the month (for a monthly schedule). It is REQUIRED to have a start and stop date, so select a month and year that the payments will run.
Invoicing/Notifications
Under this heading, you have a few decisions to make.
The first is to decide if you want invoices sent when Auto-Pay is on or off.
The next is to set up when you want invoices sent. This is OPTIONAL.
Decide how you want them sent (by text, email, or Account Holder's contact preference).
Select who will receive the notifications (Primary and/or Secondary Account Holder).
Pick how many days before each payment event they will be notified (1-7 days).
Click Submit to add the Plan. You can edit or delete any of these Payment Plans anytime.
Visibility
The 'Hide Total Payment Plan Cost on the Enroll Form' option allows you to conceal the total cost of a specific Payment Plan from customers during the enrollment process. When you turn this switch on, the system will hide the total cost for that particular Payment Plan on the Enroll Form.
Instead of showing the total cost, customers will only see the number of payments. They can still click on the payments to view the dates and amounts of all individual payments, but the total sum won't be displayed. This feature gives you more control over how pricing information is presented to your customers during enrollment.