Setting Up Installment-Based Payment Plans

TL;DR: Break annual fees into manageable installments — monthly, quarterly, or custom schedules. Parents see exactly what's due and when, and the system tracks payments automatically.

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Installment Options

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Step 1: Configure Installment Schedule

1. Go to Finance → Fee Structures → [Select Structure].
2. Click Payment Schedule.
3. Choose a schedule type or create a custom one.

Example: Quarterly Schedule for Class 10

Annual fee: ₹60,000

Custom Unequal Installments

Not all installments need to be equal:

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Step 2: Apply to Students

Once the schedule is configured on a fee structure:

1. All students assigned to that fee structure automatically get the installment plan.
2. Each installment appears as a separate line item in their fee ledger.
3. Parents see upcoming and overdue installments in their portal.

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Step 3: Grace Periods & Late Fees

For each installment, set:

1. Grace Period — Number of days after due date before marking as overdue (e.g., 10 days).
2. Late Fee — Penalty after grace period:
   • Fixed amount (e.g., ₹100 per day)
   • Percentage (e.g., 2% per month on outstanding)
   • Maximum cap (e.g., ₹500 max late fee)

Configure at: Finance → Settings → Late Fee Policy.

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Step 4: Early Payment Discounts

Encourage parents to pay early or in full:

1. Go to Finance → Settings → Discounts.
2. Create an early payment incentive:
   • Full annual payment — 5% discount
   • Payment before due date — 2% discount
3. The discount auto-applies when parents pay early.

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Individual Payment Plans

For students needing special arrangements:

1. Go to Students → [Student] → Finance → Payment Plan.
2. Click Create Custom Plan.
3. Set custom installment dates and amounts.
4. Add notes (reason for special plan).
5. This overrides the class-level schedule for that student only.

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Tracking Installments

Parent View

Parents see in their portal:

• ✅ Paid installments (green)
• ⏳ Upcoming installments (yellow)
• 🔴 Overdue installments (red)
• 📊 Total paid vs. total due

Admin View

• Finance → Dashboard — Overall installment compliance
• Finance → Reports → Installment Status — Class-wise breakdown
• Finance → Defaulters — Students with overdue installments

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Troubleshooting

Q: A student's installments don't match the schedule. A: Check if they have an individual payment plan override. Go to Students → [Student] → Finance → Payment Plan.

Q: Late fee is being applied during the grace period. A: Verify the grace period setting in Finance → Settings → Late Fee Policy. The late fee should only kick in after the grace days expire.

Q: Can a parent pay multiple installments at once? A: Yes. In the parent portal, parents can select multiple installments and pay them together in a single transaction.

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Need flexible payment options for your parents? See how other schools do it.