Define Payment Item Type

This function allows the users to define Payment Item Type. Item types are identifiers for all chargers, payments, and waivers etc, that are posted to the student's account. Item types would reflect the description of the fees which both the student and the administrative users would see on the student's account.

Roles Involved: MOE DS Billing

Item types are identifiers for all charges, payments, and waivers etc that are posted to the student's account. Item types would reflect the description of the fees which both the student and the administrative users would see on the student's account.

1. Main Menu > Setup SACR > Product Related > Student Financial > Item Type > Item Types.

2. Enter the required values in the SetID and Item Type fields.

3. Enter the required values in the Item Effective Date, Status, Description, Short Desc fields.

Description:

• Keywords: Select up to three keywords that you want to link to the item type.

• Tuition Deposit: Select if the item type is for a tuition deposit. This check box is active only when the Deposit item type classification is selected.

• GL Interface Required: If you select this check box, you must complete the GL Interface page of this component to save the item type.

• Course Class Specific: Select if you want to override the GL Interface defined for this item type and use one that is defined specifically for certain courses or classes. When you select this check box, the GL Interface defined for the item type is overridden if you define an interface at the course or class level only and select the Track Class Pricing check box on the related term fee setup.

• Accounting Date Control: Select the accounting date of the item type. Values are:

• Accounting Date: Select this value to use the accounting date that is set up on the Accounting Dates page.

• Item Effective Date: Select to use the effective date of the transaction (item) as the accounting date.

• Maximum (Accounting Dt, Run Dt): Select this value to use the date that is the greater of these two dates—the accounting date (see the definition of the Accounting Date value) and the run date, which is the GL Interface process date.

• Maximum (Term Start Dt, Run Dt): Select to make the system use the more recent of term start date or run date as the accounting date. This option is useful to prevent complications resulting from accounting periods that have already been closed.

• Run Date: Select to use the GL Interface process date as the accounting date. This is the default value for this field.

• Term Start Date: Select to use the beginning of the term as the accounting date.

• Accounting Date ID: This field is available and required only when the value in the Accounting Date Control field is Accounting Date or Maximum (Accounting Dt, Run Dt).

• Application Fee: Select if you are defining an item type used for an application fee. Application Fee transactions result in a charge on the student's account.

• Billing: Reserved for future use.

• Charge: Select if you are defining a charge item type.

• Contributor Relations: Select if you are defining a contributor relations item type.

• Deposit: Select if you are defining a deposit item type. If the deposit classification is selected, a Tuition Deposit check box is also activated. If this item type is used for a tuition deposit, both the Deposit classification and the Tuition Deposit check box must be selected.

• Financial Aid: Select if you are defining a financial aid item type.

  Financial Aid transactions result in a credit (payment) on the student's account.

• GL Interface Only: Reserved for future use.

• Interest: Select if you are defining an item type for interest charges for payment plans.

  Interest transactions result in a charge on the student's account.

• Payment: Select if you are defining a payment item type.

  Payment transactions result in a credit (payment) on the student's account.

• Pay Plan Credit: Reserved for future use.

• Pre-Paid Tuition: Reserved for future use.

• Transfers: Reserved for future use.

• Refund: Select if you are defining an item type used for an overpayment refund.

  Refund transactions result in a charge on the student's account.

• Waiver: Select if you are defining an item type used for waivers.

  Waiver transactions result in a credit (payment) on the student's account.

• Withholding: Select if you are defining an item type for tax withholding.

  Withholding transactions result in a charge on the student's account.

• Write-off: Select if you are defining an item type used for bad debt write-off.

  Write-off transactions result in a credit on the student's account.




Note: Make sure the required fields are not empty: Effective Date, Status, Description and Short Description.

4. Click on the Account Types tab.

5. Enter the required values in the SetID and Account Type field.

6. Click on the GL Interface and set the Priority Amount into BND.

7. Click on the Save button to save the changes.