Billing: Rearrange Installments (Payment Plan Changes)

Overview

During the Billing Process, Admins may need to modify payment plans post contract submission. The 'Rearrange Installments' feature allows Admins to customize the payment plan schedule and percentages for your families at any point in the billing process, which includes the option to create a new payment plan for an individual student. This provides more flexibility in the billing process for your families, while minimizing complexity to your existing payment plan setup. 

This feature is recommended when payment plan adjustments are needed on future scheduled charges.

To read how to adjust past charges, please refer to this article.

---

Important Notes About Adjustments

• This feature applies the adjustment to all payers who have a percentage of financial responsibility for the student the adjustment is being made for. For example, if a student has a financial split between 2 payers, both of the payer's ledgers will reflect the adjustment to the payment plan. Therefore, if the adjustment is only meant to apply to one of the payer's ledgers, it must be made manually rather than through the Rearrange Installments feature.
• Only upcoming and future charges can be adjusted. Past charges cannot be adjusted within this feature and will display in a read-only view near the top of the details window.
• Adjustments will NOT be applied to any manual charges. Adjustments will only be made to charges added to the ledger through the contract. 

--

---

Process

Within the Billing--> Ledger tab of the parent/payer record on the Admin side, you can access the 'Rearrange Installments' button in the upper right. 

Once you click on the 'Rearrange Installments' button, a dialogue box will open with the existing payment plan and details as described below:

• Affected payers: If there's additional payers assigned to the student, a message will display at the top with a list of all connected billing accounts that will be impacted by the changes made. 
• Billing Contact: Select the billing contact/student that you would like to make payment plan changes for from the drop-down.
• Number of Payments: Click on the drop-down menu to set the number of payments. 
• Schedule: If there's any past payments, they will display at the top of the schedule section in a read-only format and cannot be changed, as indicated by the grey shading. All upcoming and future payments can be modified as follows:
  • Month: Select each month according to the number of payments set above the schedule.
  • Year: Select the year for each upcoming payment.
  • Percent: Set the percentage for each upcoming payment. Please note, these do not need to be the same each month, however, the total percentage between past and upcoming payments must add up to 100. 
• Save: Once all adjustments have been made, click the 'Save' button to set them and apply your changes, which will be reflected in the Ledger on both the Admin side and within the parent/payer's ledger within the Parent Portal. 
• Close: This button will NOT automatically save the changes and will only close the dialogue box

--

---

Additional Resources

• Office Hours & Past Session Recordings

• Billing: Payment Plans & Schedules
• Billing: Fee & Payment FAQs