Charge Item Split Configuration

Overview

Tuition and other costs paid by parents can be split into installments, e.g., a $20,000 tuition bill for the year might be split into 10 payments of $2,000, or whatever you would like to configure. You can configure how you would like to split these charges on the payment plan record in Axiom. This article shows you how to set up charges to be split into multiple installments.

Important Note: This workflow replaces any custom payment plan code you may have had configured by Veracross engineering.

Payment Plan Record 

To access the charge splitting criteria navigate to the Payment Plan query, which is located on both the System homepage and the AutoPay homepage.

Find the Payment Plan query on either the AutoPay or System homepage.

Setup Criteria

To set up installments, you enter the criteria for creating them, and then Veracross creates them. Head to the Installments-Standard Tab to configure charge item installment criteria.

Installment Criteria Fields

  1. Schedule Date: this will become the item date on the charge item installment.
  2. Percentage: what percentage of the original amount is this installment? The sum of the percentage installments must equal 100% otherwise an error message will occur.  Only one decimal is supported (e.g., 12.5, not 12.55). 
  3. Installment Description: The text that is entered will appear at the end of the description of the Charge Item.  This can be left blank. The Charge Item Description, shows as the AR Invoice Item Description, which will be visible on the AR Invoice Header.   

Charge Splitting; Installment Calculation Options

On the Payment Plan Record, you can control the Installment Calculations that will occur when charge items are split.    When setting up a payment plan that is designated to have equal installments, the percentage field on each installment is ignored(as it will just default to splitting equally), it is up to you if you fill it in or not. 

 The three options are:

  • Percentage (Nearest Cent)
  • Percentage (Nearest Dollar)
  • Equal Installments (Nearest Dollar)

*Please note the equal installments option will help in cases where you have installments that need to be split into installments divisible by three.

Splitting Charge Items 

This configuration does not affect the splitting charge item workflow.  Once this configuration is complete, you may continue on through the Student Billing workflow as normal. 

Tuition Charge Splitting


Ad Hoc Split Charges

If you are looking to manually adjust how a Person Charge Item splits into installments, that can be done by using our Ad Hoc feature on the Person Charge Item Record.  In a situation where you want to split the charge item 9 different times, for a 10 Payment Plan Payer (which is usually split into 10 installments), that adjustment can occur directly on the Charge Item Record.   


This is how the payment plan would split if not using the Ad Hoc feature


On the Charge Item record, populate the number of installments, the number of months between the charges, and then toggle Ad Hoc.  

Press Update.  

Then toggle the create installments tab and press update, this is the action that actually splits the charge item into the different installments. 


Please Note: With ad hoc splitting, it will only split evenly and will start on the item date on the original charge item.