The new Finances feature extends functionality for your financial 'items' on any application. Provides detailed info for officers and applicants.
The Finances tab lists separate financial 'items' for each application a student has, and for all applications across the whole occurrence. In the screenshot below we have searched for one application '2173717', and it lists:
Total Due in of £35,000
Course Fees - (balance after Deposit) of £31,500
Deposit of £3,5000
It maintains the current financial position of each applicant (per application), and provides information that can be seen by each applicant and officer, so both can stay on top of finances.
Optional: The Finances feature in Applications Active (APS) is an option - you can discuss with your Account Manager the benefits of using this new feature, or remaining with the classic version.
FAQs
Q. How do these items get created?
A. When the student applied for their course the system looks up the associated Course Fee (from Courses and Subjects) and calculates the appropriate Deposit - automatically creating these two items for you.
Q. Does it always calculate a Course Fee and a Deposit?
A. Not always. If the course they applied for has no price, it can't create the Course Fees item. Also, if your APS occurrence is not set up for deposits it won't create the Deposit item.
Q. Why does it say "Course Fees - (balance after Deposit)"?
A. It only does this when a deposit has been calculated, so it subtracts the deposit amount from the course fees (in the example above the full course fees are £35,000) leaving £31,500 to pay AFTER the deposit has been paid. Both add up to £35,000.
Q. Can I edit them?
A. Yes. The Date, Due Amount, Direction, Paid Amount, Status.
Q. What are they used for?
A. They can be merged into your email touchpoints, appear in Offer Letters, and can be used as conditions in workflows.
Q. Can the student see them too?
A. Yes. These financial items display in each student's Applicant Portal:
