Overview
Within Finalsite Enrollment, you have the option to manage various aspects of payments by going to Settings > Financial > Payment Setup. Read on to learn more about what settings you are able to control and the best practices for using them.
In this article
- Credit Card Configuration
- Electronic Check Configuration
- Check Configuration
- Custom Payment Configuration
- How-To: View the audit log showing changes made to this page
Credit Card Configuration
Payment Mode: This setting determines whether transactions processed through your Finalsite Enrollment site are live or in "test" mode. While this is visible for transparency, the setting can only be changed by a member of the Finalsite Enrollment Support team. If you have questions about your setting or believe you need it to be changed, please contact Support.
Credit Card Options: This allows you to set the
- Display Name (what credit cards are referred to as in the Parent Portal)
- Submit Button Text (what parents will click to process their payment)
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Statement Descriptor: Your school's Statement Descriptor is what's used on bank accounts or credit card statements when a payment is made through Payments.
- The Statement Descriptor is set by default to the Business Website provided during the Payments onboarding/verification process. Example: Finalsite Enrollment.COM.
- Your descriptor can list up to 19 characters. We recommend adding your school name after the dash. For example, SA-YOUR SCHOOL NAME.
Accepted Credit Cards: The four options are American Express, Discover, Mastercard, and Visa. In the vast majority of cases, all credit card types should be selected to offer your parents the most flexibility.
Credit Card Convenience Fees: This setting refers to the amount of the credit card convenience fee that you would like to pass along to your parents. IMPORTANT: Convenience fees will be withheld from your payouts even if this is set to 0, as this only refers to the fee that is passed along to your families.
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Fee Rate (in percent): This allows you to charge a rate that is a percentage of the total amount. In most cases, this will be 2.9% so that fees assessed to parents exactly cover the standard merchant convenience fees. It is possible to set this higher or lower at the discretion of your school if you would like to cover a greater or smaller portion of the merchant fees. It is possible to set this to a negative number if you would like it to be a discount rather than a fee.
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Fee Amount (in dollars): This is a flat amount that is added to the transaction AFTER the Fee Rate above is calculated. Example: for a charge of $100, if the fee amount is $1.50, and fee rate is 10%, the total convenience fee would be $11.50.
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Fee Description: This is the text that will be displayed wherever the fee is referenced.
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Convenience Fee Notification Message: This checkbox determines whether the parent will see a notification message that they must agree to prior to processing their payment. We highly recommend enabling this option and defining a message if you plan to collect a convenience fee.
Electronic Check Configuration
Electronic Check Options: This allows you to set the Display Name (what electronic check payments are referred to as in the Parent Portal) and the Submit Button Text (what parents will click to process their payment).
Electronic Check Convenience Fees: This setting refers to any electronic check convenience fee that you would like to pass along to your parents. IMPORTANT: Electronic checks are not typically subject to convenience fees through merchants, and as such most schools do not set up a convenience fee associated with them, however choosing to set one is solely at the discretion of your school.
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Fee Rate (in percent): This allows you to charge a rate that is a percentage of the total amount. It is possible to set this to a negative number if you would like it to be a discount rather than a fee.
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Fee Amount (in dollars): This is a flat amount that is added to the transaction AFTER the Fee Rate above is calculated. Example: for a charge of $100, if the fee amount is $1.50, and fee rate is 10%, the total convenience fee would be $11.50.
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Fee Description: This is the text that will be displayed wherever the fee is referenced.
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Convenience Fee Notification Message: This checkbox determines whether the parent will see a notification message that they must agree to prior to processing their payment. We highly recommend enabling this option and defining a message if you plan to collect a convenience fee.
Check Configuration
Check Options: This allows you to set the Display Name (what check payments are referred to as in the Parent Portal) and the Submit Button Text (what parents will click to process their payment).
Custom Payment Configuration
Custom Payment Options: This allows you to set the Display Name (what custom payments are referred to as in the Parent Portal) and the Submit Button Text (what parents will click to process their payment).
How-To: View the Audit Log
Within the Payment Setup page, you also have access to an audit log that displays the history of any changes made to any of the tabs within this page (Credit card configuration, Electronic Check configuration, Check, and Custom).
The audit log shows a list of all changes that were made. It's not separated by page, rather, the history of all of the tabs are displayed within a dialogue box.
Remember: you must click Save for your changes to be made and recorded within the log.
Clicking 'View Changes' will open the Recent Edit History dialogue box which will display the audit history of all of the tabs within the Payment Setup page. Below is an example of a change being made and viewed in the Audit Log:
Keep in mind:
- The first time a change is made to one of the tabs, you will see a large list of text, this is just the system populating the fields first, so it can start recording changes from then on. After this, you'll just be seeing a list of the exact change(s) that have been made.
Here's an example of what this looks like:
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