To get started with SchoolAdmin Billing, you'll need to define a global billing day, grace period (optional) and overdue threshold (optional) . These criteria are located within Settings-->Financial-->Billing Setup.
The 'Billing Day' is a global day of the month that school’s want their billing cycle to start which is most often the 1st of the month. This day will apply to all payers, with the flexibility to define a custom auto-pay day on a per payer basis within that payer's record. The Billing Day drives a few important behaviors of your billing cycle:
The due date of payment plan schedules is based off this global billing day. Click here to learn more.
The due date of payment plan schedules will only reflect the global billing day within the contract. The custom billing day (often set after contract signing) will be reflected within billing statements, which are automatically sent via email 10 days prior to the global billing day.
This is the default day that auto-pay is processed for outstanding balances, unless a custom billing day is set within the payer record.
Payment plan ledger items will always be assessed to billing statements 10 days prior to the global billing day, not according to a custom billing day. This is because custom billing days can be set across multiple payers tied to the same student. This also means that billing statements are automatically sent via email 10 days prior to the global billing day, even when a custom billing day has been set.
Custom Billing Day Per Payer
Although this day is a global setting, you can set a custom billing day per payer within the payer record in the billing 'Overview' tab that will ignore this global billing day for when auto-pay is processed and when ledger items are assessed to billing statements. Click here to learn how. Please note the important behaviors of a custom billing day vs a global billing day as described above.
The 'Grace Period' indicates the number of days after the due date when an account is overdue. If you need to apply a late fee, you can do so manually within the contact record, as late fees will not be assessed automatically.
The 'Overdue Threshold' is the minimum balance amount set for an account to be considered overdue after the Billing Day, or after the Grace Period, if one is set. If you hover over the "i" you will see the following helper text:
Example: The first day after the Billing Day or the first day after the Grace Period expires, the account will be flagged as overdue as long as the overdue threshold amount has been met or exceeded.
Overdue flag: This amount controls the overdue flag in the Billing Accounts Page and in the Payer Records. Unless the threshold has been reached, the billing accounts will not have the 'overdue' flag set.
Email Notifications: The automatic overdue emails that are sent out will be turned off for a payer if their current balance is less than the overdue threshold the moment they become overdue. However, if the threshold amount has been met, the overdue email will be sent.
I have a balance of $5 due 11/1 and I do not pay. On 11/2 I should be overdue (if there's no grace period set). However, there's an overdue threshold of $10 set, which means my account isn't yet considered overdue. I won't receive the overdue email as the payer, and my account won't have the overdue flag in the Admin side of the record or in the Billing Accounts page.
Next month, if I owe $105 on 12/1 ($100 for December plus the $5 I never paid in November), and I still don't pay, the amount that my account is overdue by is now $110, which is above the $10 threshold. This means my account will now be considered overdue, and I will receive the overdue email as a payer. In addition, the Billing Accounts page and the Payer record will be flagged as overdue for Admins.