• Flat Rate Items - A flat rate item is a billing item for which you charge a specific amount, regardless of quantity or other factors, for example, a $250.00 lab fee. If you create a default flat rate item distribution on the GL Distribution tab, it appears automatically on related charges and credits.
     
  • Per Usage Items - Per usage items are helpful if you offer services that are billed incrementally.
     
  • Products - Create product records for items or services you routinely offer. By adding product pricing schedules, you can define the current unit price for each product, price changes, and the dates they take effect. For example, if a price will increase on January 1, you can create a pricing schedule that automatically changes the price after that date. You can define either a single price for all quantities or multiple schedules based on the amount of products or items purchased.
     
  • Refund Items - If your organization offers refunds, you can set up refund items to make the refund process more efficient.

    When creating a refund record, a Refund item is entered. For example, if you are refunding part of a student's payment because she paid more than owed, you can create a refund item with the description "Refund of Overpayment". On the refund record, you can define a default distribution and specify whether to allow the user to create a refund check.
     
  • Finance Charge Items - If your organization assesses finance charges or late fees to overdue balances, you can set up finance charge items.

    For example, a student purchases one year of training from your organization but is unable to pay the entire billing amount up front. With a finance charge item, the student can make monthly payments, and you can add the finance charge to cover your extra costs.
     
  • Sales Tax Items - If your organization collects sales tax on behalf of government bodies for items or services rendered, you can establish sales tax items.
     
  • Advance Deposit Items - Advance deposits items are used to distribute a payment over two or more periods or to assign a payment to a future period.
     
  • Financial Aid Items - Financial aid items credit a student's account with funds from sources other than the payer's funds.
     
  • TRP Items - The TRP (Tuition Refund Plan) item defines the tuition refund plan percentage charge and general ledger account to use for posting this type of transaction.
     
  • New Automatic Items: Vary Amount by Grade, Vary Amount and Schedule by Grade, Single Amount and Schedule - Automatic items are typically tuition billing items that are defined with specific amounts and normally include distribution schedules. The distribution schedules are defined for all or selected grade levels. Automatic items include Vary Amount by Grade, Vary Amount and Schedule by Grade, and Same Amount and Schedule for All Grades.

For more information, refer to How to create Billing Fees.