Setting up the Scholarship Payment Plan

Setting up the Scholarship Payment Plan

If you add data to the following fields when you first create a Scholarship application, a single (or double) line payment plan will automatically be created when you save the application:

• Default Payment Date (in Default Scholarship Application Values)
• Default second Payment Date (in Default Scholarship Application Values).
• Scholarship Fund
• Action (must be set to Approved)
• Grant Amount (must be greater than 0)

In cases where additional Funds are contributing to the award, or where multiple payments will be made, the line items can be edited.

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.

You may even change the Fund ID on the initial line item. However, doing so will render the actual Funding source inconsistent with the Fund Scholarship that the Scholarship is related to.

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 be viewed and changed from A/P after the application is posted by clicking the Item Entry super tab and then clicking the Line Items tab. However, you can only make changes before the Grant Voucher is posted to Open Items.

Up to five payment lines are exported in the Application Data Export for merging into Grant application summaries or to Grant award letters. 

Adding a New Scholarship Payment Line

1. In the Scholarship Management module, click the Applications super tab and the click the Payment Plan tab.
2. Click the New button on the far left-hand side of the toolbar. A new payment line opens, with the cursor in the Payment field.
3. Enter the date when the new line item will be paid, and then press the Tab key on your keyboard to move to the Amount field.
4. Enter the amount that will be paid for this line item, and then press the Tab key on your keyboard to move to the Fund ID field.

   IMPORTANT: All of the line-item amounts must add up to the total Grant Amount. If they do not match, you will receive an error on your Edit report and will not be able to post the application.

5. Enter the Fund ID for the Scholarship Fund that will pay this line item. If you are not sure of the Fund ID, you can click the arrow in this drop-down box to select the Scholarship Fund from a lookup. The Fund Name field is automatically populated based on the ID you select.

   NOTE: You will not be able to save the payment line without a valid Fund ID.

6. Press the Tab key on your keyboard to move to the Anonymous field and indicate whether the payment will be made anonymously (yes or no).
7. When you are finished, click the Save button on the toolbar.
   
   NOTE: If the payment lines do not match the Grant Amount, a message appears to tell you this and show you both the payment line amount and the Grant amount. You must make these amounts match before you can post the application.

   NOTE: If the Grant Amount exceeds the Available to Spend amount for any of the Scholarship Funds that you selected, a message appears to tell you this.

   
   

    

Editing a Scholarship Payment Line

It is easy to change elements of any payment line that you set up for a Scholarship application. This is useful if, for example, you have to adjust a payment line amount so that your payment lines add up to the total Grant Amount.

To change part of a payment line, click in the desired field, and enter the new value. When you are finished, click the Save button on the toolbar.

You can also delete a payment line by selecting that line and clicking the Delete button on the toolbar. Keep in mind that if you delete a line, you must make sure that the line items add up to the total Grant Amount.