Similar to the base tuition, there must be a single deposit active when the contract is generated, even if that deposit amount is zero dollars. The deposit can either be a fixed amount or a percentage, which can be calculated based on any combination of tuition, tuition discounts, required fees, financial aid, and scholarships. Please note: 'Deposit' is how this item is referred to throughout the SchoolAdmin system; however, you may call this the 'Registration Fee', 'Enrollment Fee' or anything else that works for your school.
How-To: Manage Deposit Payments
Most of the time, we see that deposits are paid electronically at the time of contract signing, using a credit card or electronic check. Once these electronic payments are made, the deposit checklist item is automatically marked complete. However, for parents or other payers that want to pay using a paper check or a custom payment method you have set up, you will need to manage this manually within the student record.
Within the enrollment checklist, you'll have a checklist item for Deposit / Registration Fee / etc. Click on the checkbox or click on the blue Edit text to record the payment details and mark the item complete.
When you check the box or click on 'Edit' for the Deposit checklist item, the Manual Payment window will appear. Enter the amount, select the payment method from the drop-down menu, and optionally enter the date of payment. Then, click the blue Submit button to save.
The checklist item will now be marked complete, and the payment amount, payment method, and date will display.
If you need to edit the amount or payment method, you can click on the text or edit pencil to reopen the Manual Payment window. If you need to edit the date, click on the date listed underneath the checklist item to update it.
Deposit Paid Email Receipt
Parents or guardians who pay the deposit electronically will receive an automated deposit receipt email. This template is system generated, and not customizable or viewable within your communication templates. Below is a preview of the template with an important internal note in red for the purposes of this article:
How-To: View Deposit / Amount Due Now in the Contract
Deposits can also include any required fees, optional fees, or payment plan fees within the Amount Due Now section of the Contract, which is an itemization of the fees that are due at the time of contract signing. Please note: This itemization is only displayed to the parent prior to contract submission. Once the contract is submitted, the itemization will no longer be displayed when printing contracts.
The description text above the individual fees due with the deposit can be customized when editing your Contract Form within Settings -> Forms -> Contract Forms. You'll need to clone your active Enrollment Form and then click on 'Show' -> 'Edit' the page that contains your itemization. Locate the Totals Summary field, and then click on the blue More Options button so you can edit the 'Custom Deposit Text' as shown below.
See it in action:
The custom deposit text will look like the following example:
Amount Due Examples
As mentioned above, your Amount Due Now (i.e. due at the time of contract submission) can contain your deposit and additional fees added to that deposit amount. For example, if there is a deposit of 10% of the tuition amount and there is a separate $200 required fee for new students that is due at the time of contract, those can be added together for the total amount due.
Other common scenarios:
10% deposit based on tuition (after aid & discounts)
10% deposit based on tuition (after aid & discounts) + all required fees
Flat fee of $1000 for full-pay families
Flat fee of $500 for financial aid families
Waived deposit for facility
Use cases not well supported (at this time):
Flat deposit amount based on tuition tiers. For example, a $1000 deposit if the tuition (after discounts and aid) is above $10,000 but $500 if the amount is less than $10,000.
For scenarios like this, percentage-based deposits work better or schools can use Deposit Override (see section below) to manually set the amount.
How-To: Use Deposit Override
The deposit amount may also be manually set by entering a value in the Deposit Override field on a student’s contact record. The amount entered into this field should be the amount you want the deposit to be for the student. For example, if you want the student's deposit to be overridden to $100, you would enter 100 into the Deposit Override field.
If required fees are being added to the amount due, the deposit override will be added with any required fees due. Please note that deposit override is a term-based field, so it can store a unique amount per term.