Payments Overview for Administrators
CourseKey Payments is designed to streamline and simplify the payment process by offering a comprehensive solution that reduces administrative burdens and ensures timely, secure transactions.
The new Finance application is designed to streamline your financial operations by providing a centralized location to manage payments, view transactions, and generate reports.
Features:
- Unified dashboard for all financial activities
- Easy navigation to different financial tools
- Real-time updates and notifications
Please contact your CourseKey CSM to access the Finance application.
CourseKey Payment accepts credit card and ACH payments.
Admin Dashboard
Accessing the Dashboard
1. Log in to the CourseKey platform using your admin credentials.
2. Navigate to the Finance dashboard under ‘Applications’ in the left-side navigation menu.
3. View a summary of all payments, upcoming schedules, and recent transactions.
Automations and Notifications
Set up automated processes to schedule reminders for upcoming or past due payments.
1. Within the Finance application, navigate to the ‘Automations’ tab.
2. Click ‘View Automations’ in the Summary card to create a new automation.
3. Existing automations can be modified to enable or disable them, change their template, adjust triggers, and select the message type (email, push notification, SMS).
4. Choose a trigger event from the options ‘Payment Due’ or ‘Payment Missed.’
5. Click ‘Submit’ after filling out the automation criteria.
By default, the following are notifications already setup to nudge students to take action:
- Payment Confirmation Automation: Sent immediately via push notification and email after a payment is made.
- Failed Payment Automation: Sent immediately via push notification and email after a payment attempt fails.
- Upcoming Payment Automation: Sent via email 5 days before a payment is due; client can update this.
- Past Due Payment Automation: Sent via email 1 day after a payment is due; client can update this.
Note:
Automations can be sent via push notifications, SMS, or email, and clients can customize these settings.
Transactions
Manage and review all transactions.
1. Within the Finance application, navigate to the ‘Payments’ tab.
2. Click the ‘Transactions’ tab.
Note:
Use filters to search for specific transactions by student, payment status, groups or payment date.
3. Click on the Transaction ID or the ‘View Transaction’ button in the ‘Actions’ column to review all transaction details.
Issuing Refunds
Issuing a Refund Through the Transactions Tab in the Student’s Payments Page
1. Navigate to the Users tab under Management on the left-side navigation menu.
Note:
You can also navigate to a specific student’s pages by clicking on the student’s name anywhere in the Finance application.
2. Under the Users tab in the secondary navigation, click on the relevant student.
3. Navigate to the ‘Payments’ tab for the selected student.
4. At the bottom of the page, click the “Transactions” tab to view the list of transactions.
5. In the ‘Actions’ column, click on the ‘Refund’ button to issue a refund on the relevant transaction. This button will only display on COMPLETED transactions.
6. In the following modal, click ‘Yes, refund’ to complete the refund.
Issuing a Refund Through the Transactions Tab in the Student’s Payments Page
1. Navigate to the Users tab under Management on the left-side navigation menu.
2. Click the ‘Transactions’ tab.
3. In the ‘Actions’ column, click on the ‘Refund’ button to issue a refund on the desired 4. transaction. This button will only display on COMPLETED transactions.
5. In the following modal, click ‘Yes, refund’ to complete the refund.
Reporting and Reconciliation
Generate Financial Reports
1. Within the Finance application, navigate to the "Reports" tab.
2. Input the desired date range for the generated report.
3. Navigate to the type of report required:
a. Payments Overview
b. Program Summary
c. Transactions
d. Detailed Report
4. Click the ‘Download’ icon for your chosen report type and select PDF or CSV format. The report will be sent to your email for viewing.
Invoices
View & Download Invoice
1. Within the Finance application, navigate to the "Payments" tab.
2. Navigate to the ‘Invoices’ tab to view all generated invoices, their status, and payment history.
3. Select any relevant invoice to get more detailed information.
4. Select ‘Download’ at the top left screen.
Send Invoice to a Third Party for Payment
1. Within the Finance application, navigate to the "Payments" tab.
2. Navigate to the ‘Invoices’ tab to view all generated invoices, their status, and payment history.
3. Select an UNPAID invoice.
4. Click on ‘Send Payment Link’ for the selected invoice.
5. Enter either a phone number or email address of the third party who will receive the 6. payment link.
7. After entering the details, click ‘Send’ to send the payment link.
Send Payment Reminders to Students
1. Within the Finance application, navigate to the "Payments" tab.
2. Navigate to the ‘Invoices’ tab to view all generated invoices, their status, and payment history.
3. In the table, under the ‘Action’ column, click the ‘Send Reminder’ button for the relevant invoice.
Note:
The ‘Send Reminder’ button will be disabled if reminders were sent less than 72 hours ago. It will not appear for PAID invoices.
Manage Payment Schedules
Create Payment Schedule
1. Navigate to the Users tab under Management on the left-side navigation menu.
2. Under the 'Users' tab in the secondary navigation, click on the relevant student.
3. Navigate to the ‘Payments’ tab for the selected student.
4. Click ‘Create Schedule.’
5. Within the 1st step, ‘Installments,’ input the total amount, number of installments, and due dates.
Note:
Each field is editable, if editing the monthly installments, the total amount must add up to the tuition amount. Customize payments by adjusting individual installment amounts or due dates as needed.
6. Click ‘Continue.’
7. Within the 2nd Step, ‘Add Payment Items:'
a. Select ‘Add Item’ to add your payment items.
b. Enable and input a Sales Tax Rate if a tax rate applies to any of your payment items.
c. For each added item, input the description, amount, and if the item is a taxable or non taxable sale (if applicable).
Note:
If any extra costs apart from the tuition installment payments need to be billed can be done by creating an additional invoice after creating a payment schedule. This can only be done once when creating a payment schedule and the fees are due immediately. For example, additional items like a Student Kit, Lab Fee, Application Fee, or Textbook can be added to the list.
8. Click ‘Continue.’
9. Within the 3rd Step, ‘Review & Approve,’ review all payment schedule details.
10. Click ‘Submit’ to complete your payment schedule.
Edit Payment Schedule
1. Navigate to the Users tab under Management on the left-side navigation menu.
2. Under the Users tab in the secondary navigation, click on the relevant student.
3. Navigate to the ‘Payments’ tab for the selected student.
4. In the account summary card at the top of the page, click ‘Edit’ next to ‘Payment Schedule.’
5. Adjust payment schedule details by modifying the total amount, installment amounts, or due dates.
6. Within the 3rd step (Review & Approve) of the payment schedule setup, click ‘Submit’ to finalize the payment schedule changes.
Delete Payment Schedule
1. Navigate to the Users tab under Management on the left-side navigation menu.
2. Under the Users tab in the secondary navigation, click on the relevant student.
3. Navigate to the ‘Payments’ tab for the selected student.
4. In the account summary card at the top of the page, click ‘Edit’ next to ‘Payment Schedule.’
5. At the bottom left of the payment schedule setup, click ‘Delete Schedule.’
6. Confirm the deletion by clicking ‘Yes, Delete’ in the modal that appears.
Processing In-Person Payments
There are three options to process a payment in the Finance application.
Process In-Person Payments Through the Selected Invoice
1. Within the Finance application, navigate to the "Payments" tab.
2. Navigate to the ‘Invoices’ tab.
3. Select the relevant UNPAID invoice.
4. Select ‘Pay Invoice’ to collect payment on behalf of a student.
5. Enter credit card or bank information.
6. Click ‘Confirm’ to finalize the payment.
Process In-Person Payments Through the Pay Portal
1. Within the Finance application, navigate to the "Pay Portal" tab.
2. On the left-side of the screen, search for and select the student you want to process a payment for.
Note:
Relevant payment information will be displayed for the selected student.
3. Enter all Payment Details on the right side of the screen.
4. Click ‘Review’ & Approve.’
5. Click ‘Approve’ in the following modal to confirm the payment.
Process In-Person Payments Through a Student’s Payments Tab
1. Navigate to the Users tab under Management on the left-side navigation menu.
2. Under the Users tab in the secondary navigation, click on the relevant student.
3. Navigate to the ‘Payments’ tab for the selected student.
4. Select ‘Make a Payment’ to collect payment on behalf of a student.
5. Enter credit card or bank information.
6. Click ‘Confirm’ to finalize the payment.
Debit Block
Make sure your bank can handle your account transactions after registering with CoursKey. In order to ensure smooth withdrawals and deposits, please check that your bank account is set up correctly.
If your business bank account has a debit block or filter, ensure your acquiring bank can fund your account daily.
You might need to provide the following company ID(s) to your bank to allow them to credit your account:
Partial Payment:
The Partial Payment option allows students to pay an amount less than the scheduled installment. While this provides flexibility, it’s important to note that any remaining balance will still be due by the original due date.
How It Works:
- Payment Flexibility:
Students can choose to pay less than the full installment amount at any time before the due date. - Outstanding Balance:
After making a partial payment, the remaining balance will be reflected in the student's payment schedule. The full remaining amount must still be paid by the due date to avoid late fees or penalties. - Payment Schedule Updates:
Once a partial payment is made, the system will automatically update the student’s outstanding balance and notify both the student and the administrator of the adjusted remaining amount.
Important Notes:
- Partial payments do not change the original due date for the remaining balance.
Overpayment
The Overpayment feature allows students to pay more than their required monthly installment, giving them the flexibility to reduce their outstanding balance faster or manage their payments more efficiently.
How It Works:
- Making an Overpayment:
Students can make payments that exceed the scheduled installment amount at any time. These overpayments are applied to their outstanding balance and reflected in their payment schedule. - Applying Overpayments:
Administrators have the ability to configure how overpayments are applied. There are two options:- Next Invoice: The overpayment can be applied to the next upcoming invoice, reducing or eliminating the amount due for the next payment.
- Final Invoice: Alternatively, overpayments can be applied to the last invoice in the payment schedule, enabling the student to pay off the schedule earlier than planned.
- Automatic Partial Payments:
When the overpayment feature is turned on, the Partial Payment feature is automatically enabled. This is because an overpayment in one invoice means that the next invoice will effectively be a partial payment, with the excess amount from the overpayment reducing the next scheduled payment. - Payment Schedule Updates:
Once an overpayment is made, the system will automatically update the student’s remaining balance and adjust future payment amounts accordingly. Both the student and the administrator will receive notifications of these changes.
Configuring Overpayment Settings:
Admins can enable and configure overpayment settings by going to the payment schedule settings. When enabled, overpayments will be applied according to the selected configuration (next invoice or final invoice), and partial payments will automatically be turned on for future payments as needed.
Next invoice: Last invoice:
Autopay
The Autopay feature allows administrators to enable or disable automatic payments for each student, ensuring that payments are made on time without manual intervention from the student.
To turn on or off Autopay for students, go to the student’s Payments profile and select “Details” to modify.
Dropped Student
The Dropped Students feature triggers an automatic cancellation of a student’s payment schedule if the student drops out of the program. This ensures that no future payments are collected once a student is no longer enrolled. If the student is not in a skills tracker program, the admin will still need to manually cancel a student’s payment schedule. If an admin tries to remove a student who still has a payment schedule, they will receive the message to notify the admin that a payment schedule is still active for that student.
How It Works:
- Configurable Settings:
Administrators have the ability to enable or disable this feature in the Payments Settings tab.- When enabled, the system will automatically cancel future payments for any student who drops.
- If the feature is disabled, admins will need to manually cancel the payment schedule for dropped students.
- Association with Finance:
- If the student is associated with a payment plan: The system will automatically drop the student in Finance, and all future payments will be canceled starting from the drop date.
- If the student is not associated with a payment plan: Administrators will receive a modal notification. This modal will inform the admin that the student is currently associated with an active payment plan, and they will need to manually cancel the payment plan before removing or deleting the student from the program.
Minimum Payment Required
The Minimum Payment Requirement feature allows administrators to set a minimum payment amount per transaction. This ensures that all payments meet a specified threshold, helping to manage and streamline the payment process.
Configurable Settings:
The minimum payment requirement can be turned on or off from the Settings tab in the Admin dashboard.
- When enabled, students will not be able to make payments below the configured amount.
- When disabled, students can make payments of any amount, including partial payments (if partial payments are also enabled).
Help Center Articles - Students
Partial Payment: Flexible Payment Options
The Partial Payment feature gives you the flexibility to make payments less than the full installment amount when you need it. This can help manage your finances better, but remember, the full remaining balance is still due by the original due date.
How Partial Payment Works:
- Select Custom Amount: When making a payment, select ‘Custom Amount’ to enter your desired payment amount.
- Outstanding Balance: After making a partial payment, the remaining balance will be automatically updated in your payment schedule.
- No Change in Due Date: Partial payments do not extend the original due date for the remaining balance.
Overpayment: Pay Ahead and Manage Your Balance
The Overpayment feature allows you to pay more than the required installment amount, helping you reduce your overall balance faster or manage your payments more efficiently.
How Overpayment Works:
- Making an Overpayment: You can make payments larger than the required amount, and these will be applied to your outstanding balance. When making a payment, select ‘Custom Amount’ to enter your desired payment amount.
- Applying Overpayments: Administrators may apply your overpayment in two ways:
- Next Invoice: The extra payment reduces the amount due for the next scheduled payment.
- Final Invoice: The overpayment is applied to the last invoice, helping you pay off your balance early.
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