Accept Deposits for Fall Enrollment with Procare Software

published | 6/4/2017

Tuition Express Tuition Billing Software

Are you ready to accept deposits from families to hold spots for children in your fall programs?

It’s easy to do in Procare using the built-in Deposit/Deposit Refund tool—which lets you set the money aside until the time comes to apply it towards tuition. That way it doesn’t count as revenue until you actually provide the services in the future.

When a family is ready to pay their deposit, just use the description “Deposit Tuition: Fall” to record the charge on the Ledger Card.

Procare Software: Ledger Card Example

When you do so, the Deposit button (bottom of screen) shows the amount they have on deposit.

Procare Software: Amount on Deposit Example

The family may make the payment however they normally would; for example, they can pay through MyProcare or pay at check-in or whatever method you use. This brings the family’s balance back to zero.

Procare Software: Ledger Balance Example

The amount they prepaid remains as a deposit on their account until the point when you’re ready to apply it towards tuition. That usually happens when you run Automated Billing for the first week or month of your fall program, which gives the family a balance due.

Procare Software: Automated Billing Example

At that point, you just credit back the amount they originally paid, using the description “Deposit Refund: Fall”. You can do so using the Quick Ledger Posting feature if you’re posting deposit refunds to many families, one right after another.

Once you’ve credited the deposit back to the family, their balance due is decreased by the amount they previously paid.

Procare Software: Deposit Refund Example

And, the Deposit button goes back to zero, meaning they no longer have a deposit on their account.

Procare Software: Deposit Button at Zero Example

For more details see the article/video: Deposit on Account.

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Cindy
Westminster, MD

This software makes it so easy to keep track of tuition payments, outstanding tuition, etc. Our owner/director was using an Excel spreadsheet to keep track of tuition payments and records prior to Procare, it was a nightmare and very time consuming but Procare has made us so efficient!

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