You can generate refunds for students who drop classes or stop attending your organization. There are four methods of setting up refunds:
· Refunds Using the Copy Charge Definition & Details to the Refund Definition & Details Method.
· Refunds Using the "*ALL" Constant.
· Refunds Using the Number of Days (*DAYS) Calculation.
· Refunds Using the Percent of Days (%DAYS) Calculation.
One way is how far through the term the students were at the point they dropped.
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One method is based on how far through the term the students were when they dropped. Your organization may have a policy that if a class is dropped within the first 10 days, students will receive 100% of their fee. From 11 to 20 days, they will receive 80% of their fee; after 20 days, there is no refund. |
In order for a refund to be made, each fee code for which you want to generate refunds needs a corresponding Refunds Definition table row and at least one Refund Detail table row. For example, if you have a fee code of TU on the Charges Detail table, you also need a fee code of TU on the Refunds Detail table. If there is no Refunds Detail row for the charge, a refund will not be made.
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The Refunds Detail table must be completely set up before you automatically generate charges. |
