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The Payment Type Definition table has no direct interface with the Business Office module. It is solely designed to assist the Admissions Office with tracking money that is received by them. If you only want to track that a payment for an application fee or tuition deposit was received, you can do this by setting up a requirement. In this case, you do not need to define payment types. |
Payment types (examples) can be used to identify whether a fee was paid by cash, check, or credit card and can help to track money received by your office. The Payment Type code is defined on the Payment Type Definition window and consists of five alphanumeric characters that define the different possible methods of payment your organization accepts as valid forms of payment for an application fee and/or deposit.
