Examples of payments to student accounts would be student payments, parent payments, or payments by a third party. An example of third party payments would be a company or sponsor paying for a student's or several students' charges.
There are several ways to create credits or row payments to subsidiary accounts:
· Receipt Entry: This menu option allows you to manually type in the credit or payment amounts for a students accounts.
· Applying Financial Aid: The Financial Aid Office awards aid (including scholarships and Federal aid) to students based on eligibility, etc. When this aid gets transferred to the Business Office, the amounts are credited to the A/R subsidiary accounts.
· Third Party Payments: This option allows a third party (a party outside of the organization) to pay for part or all of a students charges.
· Advance Deposits: A student may pre-pay a terms charges. This money is kept in a liability account until charges for the term are generated. The money is then taken out of the liability account and credited to the students account.
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Examples of payments to student accounts would be student payments, parent payments, or payments by a third party. An example of third party payments would be a company or sponsor paying for a student's or several students' charges. |