SchoolAdmin billing is built with the flexibility to best serve your families supporting a multitude of custodial scenarios. Click here to learn about best practices.
Default Financial Responsibility Settings
By default, the following financial responsibility will be set within the 'portal accounts' page of the student record:
All parents/guardians: Will be set to 'yes.' Any other contacts that have a parent role assigned such as an aunt, uncle, or grandparent will also be automatically set. If the parent role is not assigned, then these contacts will not have access by default. Schools will need to manually revoke access for any contacts that should not have permissions to sign an enrollment contract/registration form.
Consultants: Are set to 'no,' but can be toggled to 'yes.'
Students: Have a hard-coded 'no' set as students are not responsible for signing contracts. They can have access to the checklist if their portal access is set to 'yes.' Important note about enrollment checklist access: If a linked account is only under the student, and not under a parent or guardian, they will not be able to view the contract from this account. This is because student records cannot have financial responsibility, which is required in order to view the contract.
Data structure overview
Financial responsibility is defined on a per student basis. This provides the ability to have mixed responsibilities within a household.
100% responsibility by one billing account (parent, guardian, grandparent, etc).
Split between multiple parents or guardians.
Different responsibilities for siblings within the same household. For example, financial responsibility for sibling A is split between two parents, while one of those parents is 100% responsible for sibling B.
Managing Financial Splits
Financial split can be defined before or after a contract is signed. If no split is defined prior to the contract being signed, the system automatically assigns 100% responsibility to the person paying the deposit. This can be updated later by the admin.
You can access financial responsibility assignments by clicking on the 'portal accounts' quick action shown below within the student record.
If you would like to restrict who can access and sign a contract, disable the Financial Responsibility flag by clicking on the 'yes' toggle and set it to 'No.' You can also set the financial split by clicking on the percentage amount.
Having multiple parents/guardians set as financially responsible gives flexibility to support split households where one parent may have multiple students at school, but shares financial responsibility with only one of these students.
Splits need to be updated on a per student basis. If there are multiple students in the household, you'll need to update the splits individually for each students.
Splits are carried forward year-to-year by default, however, they can be updated on a per year basis. This is useful if the responsibility has changed between years.
Assigning a split percentage will not retroactively edit any posted charges to that parents account. For example, mom was originally assigned 100% financial responsibility and a charge has already been posted to her account for $10,000. Now mom and dad are sharing financial responsibility at 50% each, which means you'll need to adjust these amounts manually for both parents within the related student record. Click here to learn how.
Changing Financial Splits Mid-Year
Financial splits can be updated after payments start.
Adding a New Split
For this example, lets say 5 months into the year, the financial split goes from 100% for one parent to 50-50 among two parents. This can be accomplished by editing the split within the portal accounts tab of the student's record. From that point forward, the remaining payments due will be split among the two parents according to these amounts. Historical charges and payments will be unaffected.
Adjusting the Current Split
If the financial responsibility between two parents changes during the year, say from 50-50 to 75-25, you can edit the split for that student. From that point forward, the remaining payments due will be applied at the new adjusted amounts. Historical charges and payments will be unaffected.
Reporting/Viewing Financial Splits and Responsibility
Individual Student View
Financial splits and responsibility can be viewed within the student's record, in the Households tab-->Portal Accounts. You can also navigate to this tab by clicking on the 'Portal Accounts' quick link.
To view financial splits and responsibility for a set of students in bulk, create a custom report within Search & Reports, then click on the 'Export' button and select "export as billing import template." This file will include financial responsibility percentages for each contact.
Click here to learn more about financial responsibility and best practices.