Reversal Schedules are used to credit or refund students that drop from courses. The schedule defines the tuition refund percentage based on specific time frames.
- In Configuration, click Reversal Schedules
- Click New Reversal Schedule
- In the Academic year field, select the academic year to define a schedule
- In the Sessions field, select the session to define the schedule
- Enter the schedule information in the grid
- Enter a From Date, From Time, To Date, To Time, Start Term and Credit %
Note: If using a Credit % of 100, you can mark the Delete Unpaid Line Item checkbox to delete the line item.
- In the Course Fees to Include column, select the course fees to credit, adjust, or delete
- Save and close the schedule
We recommend creating two rows of credits that equal 100% before defining the rest of the schedule:
First Row: Enter the drop/add date range before statements are sent. Mark the Delete Unpaid Line Item checkbox. This will reduce the number of extra records in the database.
Second Row: Enter the drop/add date range using the date after statements are sent for the From Date and the cut off date to receive a credit of 100% for the To Date. Do not mark the Delete Unpaid Line Item checkbox to maintain an audit trail for charges that appeared on statements or reports.
To reverse Credit Overload Fees, select to either reverse them according to the schedule above, or select date and time specified and specify a date and time.