Have you ever run into a situation where you have some sort of outside funding that needs to be placed on a student's account for future use? This happens often, whether a school gets a scholarship or a transfer of credit from one program to ASAP. Well, there's a few different ways that ASAP can record this information in order for the student to use that monies for future use.
Using Generic Credits:
The first method would be to issue the outside funding as a generic credit. If you're not sure on how to issue a credit in our system, please view this support article to do so: Account-Credits and Generic-Credits
When you are on the invoice detail page, there's an option to "Give Credit to Student...". When selecting this option, you can issue the outside monies as a "Generic Credit". You can enter in any amount and notes to go a long with it. This will help with referencing as to why this credit was given.
Just a note, with this method, the credit issued is not tracked with any G/L code as it is just a credit that is added to the system, regardless to the items found on the invoice. This is a quickest method for adding in outside credits but does not keep a close record of where that funding is actually coming from outside of notes on the transactions.
Applying the credit as a discount:
The second option would be to apply the outside funds as discount in ASAP. This is the best method when trying to track specific funds through a G/L code and is the cleanest method if the funds are of one time use with no plans to be held in the customer's account. To do so, you would just need to set up the outside funding as a discount in our system. Here's a support article on how to configure the discount: Working with discounts
Issuing a Credit from a Manual Fee:
The third method would be to create a manual fee that has a G/L code associated to it. The G/L code can then be used to track where the source of income is coming from. This would be the best method if you intend to issue a credit to a student's account that can be used for future purchases. Before we even get to this, we first would need to create a custom payment type, designating where that source of income is coming from. Here is a support article on how to do so: Configure a custom payment type In my particular example, I've created a custom payment dedicated to Scholarships but any type can be created:
Once done, we would need to create an invoice for this student. If we are just processing the credit, we should start from a blank invoice. Here's a support article on how to do this if you're unsure:
From here, we would just need to add a manual fee for the amount of the scholarship. If you're not too familiar with how to add a manual fee, this support article can show you where this information is located:
To add a fee, just select the "Add Items" drop down and choose "Fee". In my example, I have a scholarship fee created for $100:
After saving the fee, I now have an invoice generated for that amount.
From here, I would just need to pay using my custom payment type of Scholarship. This will allow the invoice to be paid off as well as generating a revenue of $100 for the scholarship funding. In my example, I've went ahead and completed this offline payment by selecting "Accept Payment" and choosing "Scholarship" as the payment type:
From here, we still need to create a credit for the student's account. This can easily be done by selecting the "Give Credit" option in the "Actions" drop down. From here, we would need just select the item that the credit is being generated from, in this case the "ASAP Scholarship" fee.'
Once done, I can go ahead and issue the credit. Once done, we can see the credit on the student's account and a new "Credit Given" line on the Invoice Transaction Details.
Once done, the student will then have a credit that can be used for future use for any classes, lessons, products, etc. in ASAP.