Handling Non-Tuition Payments
For payments due to your school that don’t get included with regular tuition installments, FACTS offers a number of ways for families to pay, while keeping the reconciliation simple for your school. By offering payment flexibility to families, the likelihood of receiving payments on time goes up – and doesn’t complicate payment reconciliation.
If your institution has charges that need to be paid, but don’t necessarily need to be included in a tuition payment plan, Incidental Billing is a great way to assess those charges. This billing product is ideal for occasional, inconsistent charges such as before- or after-school care, field trip fees, or technology fees.
Once you’re using Incidental Billing, you can upload bills and send them to families or add them en masse into the FACTS system. Once the invoice is generated and received by the family, they can initiate online payment, send payment by mail, or enroll in autopay.
- A family is not required to have a payment plan in order for you to bill them using Incidental Billing.
- You may configure a late fee to unpaid invoices if you wish.
- You can require the family to pay the invoice in full or allow them to make a partial payment.
The servicing options for Prepay Accounts are similar to FACTS Tuition Management. However, when a parent adds funds to their account, their prepay balance increases. When your school adds a charge against the prepay account, it will reduce the prepay account balance. Prepay is most commonly used for services such as childcare and lunch (known charges that a parent may want to pay ahead of time).
- Some FACTS reports have the option to include prepay account activity.
- The parents’ dashboard will include a low or negative balance overview and provide the option to add funds.
- The institution can request FACTS to configure alerts to be sent in the event that the prepay fund dips below a certain dollar amount or goes negative.
Existing FACTS customers and non-FACTS customers can both take advantage of our Payment Forms product. Payment Forms allows you to create forms in minutes for event registrations or permissions, and also allows you to collect payments. And, if you are selling school t-shirts or yearbooks, the form will track your inventory based on purchases made. If a family’s payment returns, the inventory will increase accordingly.
- This product allows for security groups to be created to specify which faculty will have access.
- You can add images and custom school branding to the form.
- Once the form has been published, you will receive a link to the form to post on your school’s website or provide to parents via email, social media channels, etc., so they can fill out the form and pay, if necessary.
If you’re interested in learning more, visit this page or contact your representative.