Finance > Instalment Plans > + Instalment Plan Entry
Overview
An instalment plan is a financial arrangement that enables students to pay their fees in smaller, more manageable amounts over a specified period, instead of paying the entire amount upfront. it can help make education more accessible and affordable for students who may not have the financial means to pay the full amount at once.
The Instalment Plan Entry Screen enables you to create new instalment plans for programs or edit the existing instalment plan, by clicking on Edit Instalment Plan.
Fields and their Explanation:
| Fields | Explanation |
|---|---|
| Instalment Plan Code | This is a mandatory field and cannot be left blank. |
| Instalment Plan Name | This is a mandatory field and cannot be left blank. |
| Number of Invoices | Add the number of invoices (instalments) for a program. |
| Split Tuition Equally in instalments | If you wish to split the tuition amount in instalments, you can check this tick-box |
| Instalment Plan Selected By Default | If you wish the instalment to be selected by default, you can check this tick-box |
| Invoice Due Date Calculated automatically | If you have checked this tick-box, the invoice due date will be calculated automatically for the program |
| Campus | Select the Campus/es from the drop-down for which you want to create the instalment plan. |
| Program | Select the Programs from the drop-down that you want to link the instalment plan to. |
| Active | By checking this tick-box, you will be able to see this instalment plan while creating applications. |
| Don’t allow two invoices in the same month | If you check this tick-box, the system will not show two invoices in the same month. |
