Payment Plan Tab (Scholarships)
  • 10 May 2023
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Payment Plan Tab (Scholarships)

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Article summary

 

You are here: FIMS Optional Modules > Scholarships > Parts of the Screen – Scholarship Management > Payment Plan Tab (Scholarships)

Payment Plan Tab (Scholarships)

The Payment Plan tab displays the payment schedule for the Scholarship, including the Funding source of each payment. If you have recorded a default Payment Date in the Default Scholarship Application Entry Values window, and entered a Grant Amount, Schol. Fund, and set the Action code to Approved on the Application tab, FIMS automatically creates a single payment line for the full Scholarship amount.

You can also create a multi-line payment plan. For each line item you create, a separate payable will be created based on the Payment dates you enter. Two or more lines with the same date, but from different Funds, will result in a single payment. The payment amount total must equal the Grant amount.

The Payment Plan can be viewed in posted Applications as well, but each line displays some additional data fields to track adjustments. The Payment Plan is also reflected in Application History on the A/P Activity tab, which displays the payment history of each line item.

NOTE: Payment Dates may also be viewed and changed from A/P after the application is posted by clicking the Item Entry supertab and then clicking the Line Items tab. However, you can only make changes before the Grant Voucher is posted to become Open Items.

You can export up to five payment lines in the Application Data Export for merging into Grant application summaries or to Grant award letters.

Payment Plan Tab

 

Payment Plan Fields

Field

Description

Line

Sequential number that is automatically assigned to each payment line.

Payment

The date when the payment is due.

Amount

The amount due on the Payment date.

Fund ID

The Fund ID for the Fund that is offering the Scholarship.

NOTE: It is possible to select different Funds for different payment lines.

Fund Name

Read-only field that displays the name of the selected Fund.

Anonymous

Indicates whether the Scholarship is being Granted anonymously (Yes or No).

 


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