Payment terms / Due date Schedule

[Former Member]

Dear experts, how do the Payment terms definen in FI - FICA, relate to the Due Date Schedule used in Student Lifecycle Management?. Do I define Payment terms for the contract account, or just the Due Date Schedule?

Best regards.

[Former Member]

Hello:

The Due Date Schedule (DDS) is used to split fees into payment plans (example 50% at beginning of term, 25% one month later and 25% two months later). The DDS is maintained in the Academic Calendar. To define the DDS you first need to set up a Time Limit and Time Limit Sequences using the IMG path: SLCM>Master Data in SLCM>Academic Calendars.. Note that at least one DDS is required even if you do not provide payment plans for the students. This DDS will have one payment date. The DDS can be assigned to the Program, Module, Student Account or Contract Object.

Each partial payment is an orgianal open item which in turn can be split into an FI-CA installment plan using Transaction FPR1.

As an alternative to the DDS you can use Transaction FPR1 to set up installment plans. This transaction provides more control over payments including dynamic definitoin of due dates.

Regards,

Patricia

[Former Member]

Thanks Patricia for your answer, can I set up early payment discounts for the installments defined in the Due Date Schedule?

Best regards.

[Former Member]

It would be helpful if you could you provide more details about the business process

Does the sutdent get a discount based for early registration? Also, if the student has to pay 3 instalments, do they get a discount for each installment if they register/pay early?

Regards,

Patricia

[Former Member]

Hi Patricia, pleasy help me with this one! exactly, the answer to both questions is yes.

Does the sutdent get a discount based for early registration? Yes.

Also, if the student has to pay 3 instalments, do they get a discount for each installment if they register/pay early?Yes, if they pay early they get an early payment discount.

Please help me out with this issue.

Edited by: BPX PARTNERS on Mar 3, 2010 4:42 PM