Instalment Plans in TEAMS

This article describes how to create multiple installment plans, what are business rules for it and how to use it.

Before You Start

We have introduced a new feature in TEAMS called Instalment Plans.

Basically, it will replace Fee Schedules that you use to have where the system creates multiple installment plans for your student fees and calculate the invoice dates.

With Fee Schedules (which is found under TEAMS > Setup > Financials), it was included in TEAMS when we released it back in 2003 and creating multiple installments (invoices) for a proposal and/or enrolment was not popular. It had a very simple structure and logic to it and over the years, where installment plans have now become a standard thing and part of compliance and clients have broadened their rules for invoice dates, the system has not been able to accurately calculate invoice dates and invoice due dates for each installment. This has to lead to a lot of frustration and time consuming a manual entry in step 3 (Invoice preview) of the proposal and/or enrolment wizard.

With the new Instalment Plans, we have included a lot more flexibility in building the rules for each installment and how the system should calculate the invoice date and invoice due date and also if and where specific fees should be applied in certain installments.

Business Rules

The first step to being able to setup Instalment Plans is that you need to turn on a system setting. To do this, you need to contact our Support staff on 1300 85 05 85 or via support@rtosoftware.com.au and request that Instalment Plans be turned on.

  • WARNING: we will turn a system setting on, that allows you to still use Fee Schedules while you review and test Instalment Plans and if it is something you will use. It is important to note that the moment you link an Instalment Plan to a course/qualification the Fee Schedule lookup will NO LONGER be available.

  • It is highly recommended that you only setup and test Instalment Plans against one, maybe two courses that are not popular (so as not to slow down your staff processing Offer Letters and applications), understand how it all comes together.

  • If you then are going to introduce it to your staff, train them using the one or two courses only and then after they are trained, set up all the other ones you need and then they will no longer see the Fee Schedule Lookup.

  • Setting it all up is of no use if you haven’t trained your staff and they cannot complete proposals and Offer Letters because they can’t use Fee Schedules.

  • Once Instalment Plans is turned on in your TEAMS site, follow the instructions below to set one up and review it.

Creating an Instalment Plan

The screen for creating the Instalment Plans is present in TEAMS > Setup > Financials.

Following fields are present on Instalment Plan Wizard Step 1

Instalment Plan Code – Enter the instalment plan code in this field which you wish to create.

Instalment Plan Name – Enter the instalment plan name in this field which you wish to create.

Number of Invoices – Enter the total number of invoices which you wish to create within the Instalment Plan.

Split Tuition Equally in instalments – This is a tick box and the system will equally split the tuition fee amount in all the instalments if it is ticked.

Instalment Plan Selected By Default – This is a tick box and the system will apply this Instalment Plan to the course by default while proposal and enrolment creation. However, a user can change it from the drop down menu.

Invoice Due Date Calculated automatically – This is a tick box and the system will calculate the invoice due date automatically as per the invoice date if it is ticked i.e. the invoice due date will be same as the invoice date.

Campus – This is a multi-select option and multiple campuses can be selected to which you wish to apply the instalment plan.

Course – Once a campus has been selected, user needs to press the ‘Load Courses based on selected Campus(s)‘ button and the system will load the courses which are linked to the campus selected above.

Active – This is a tick box and it can be ticked if you wish to deactivate the instalment plan.

Once the above information has been entered, press the NEXT button. The Installment Plan Wizard Step 2 screen will open as follows:-

Following fields are present on Instalment Plan Wizard Step 2

Instalment # – This is a drop down field displaying the number of invoices entered on the previous step. A user can select the invoice number for which the settings are to be entered.

Number of Days/Weeks/Month – This is a numeric field where a number can be entered which will be used by the system as the number of days/weeks/months to create invoices based on the below settings.

Days/Weeks/Month – This is a drop down menu with options for Days, Weeks and Months and a user can select one of them.

Based on this setting, the system will pick the number from the above setting for ‘Number of Days/Weeks/Months‘ and it will pick the entity from this drop down menu i.e. either Days or Weeks or Months and create invoices accordingly.

In/Before/After – This is a drop down menu with options for In, After and Before. A user can select either one of the three options and the system will use this setting for invoice creation based on the below setting.

Enrolment Date that relate to this instalment – This is a drop-down menu with options for Enrolment Creation Date, Enrolment Start Date, Enrolment Finish Date and Previous Installment Invoice Date and a user can select one of them.

Based on this setting, the system will check the above setting for ‘In/Before/After’ and create invoices accordingly i.e. Invoice In/Before/After the Enrolment Creation Date or Enrolment Start Date or Enrolment Finish Date or Previous Installment Invoice Date.

Invoice Due Date # of Days after the Invoice Date – This is a numeric field where a number can be added and the system will create an invoice with invoice due date that many days after the invoice date.

Tuition Fee % – This is a numeric field where a number can be added and the system will allocate that much percent of tuition fee amount to an invoice.

Additional Fees – This is a multi-select look up icon. Other fees such as fees that are not flagged as tuition fee can be selected from here.

All the above settings should be entered for each invoice separately, added to grid one by one and the screen should be either SAVED or the process should be finished to complete the instalment plan creation.

Using Instalment Plans

Once an Instalment Plan is created, it will be visible in the Instalment Plan drop down menu present on the following screens:-

Enrolment Wizard > Invoice Preview Screen

Proposal Wizard > Invoice Preview Screen

Bulk Proposal/Package Proposal > Invoice Preview Screen

Proposal Centre > Action > Invoices

Enrolment Centre > Financials > Invoices

Please Note

If a user selects both the options i.e. Fee Schedules and Instalment Plans while creating invoices, then the system will display a warning message on the screen as ‘WARNING: you should NOT link both an Instalment Plan and Fee Schedule to fees in the Fee Entries tab. If you do this, the system will always use the Instalment Plan and ignore the Fee Schedule linked.’

Still having trouble?

If you’re having any difficulty or have questions that you can’t find answers to here, please feel free to send us an email at support@rtosoftware.com.au or call us on 1300 85 05 85. We’re happy to help!