Enrollment, sales, and finance
How do you track installments and payment collections in Course?
In Course, an installment plan sets out how a sale is to be paid. A collection record shows a payment received against a specific installment. An installment can be paid in one transaction or through several partial collections, provided their total does not exceed the amount still due.
The payment plan, collections received, and cash account balance are different figures. To track an installment accurately, read its original amount, the amount collected so far, and the outstanding amount together.
On this page
Distinguish the amounts shown in the payment view
Entering a down payment does not, by itself, create a cash account transaction. Do not treat a populated down payment field as proof that money has reached a cash or bank account. Check the transaction records to verify collections actually received.
| Figure | What it means |
|---|---|
| Net sale amount | The total produced by the sale's pricing calculation. |
| Down payment field | The amount that reduces the balance to be allocated across installments in the sales plan. |
| Installment amount | The amount of the plan entry created for a particular due date. |
| Amount collected so far | The sum of partial payments recorded against the same installment. |
| Outstanding balance | The amount left open after subtracting collections from the installment amount. |
| Overdue balance | The outstanding portions of installments whose due dates have passed. |
Record a collection against an installment
Open the student and sale.
Find the correct installment in the Payments Due list or the sale's payment view. Check the student, sale, and due date.
Check the outstanding amount.
Account for payments already made. The amount to collect must be positive and must not exceed the installment's remaining balance.
Choose the method and cash account.
Select the payment method actually used, the cash account where the collection will be recorded, and the collection date. The payment method and cash account are separate fields.
Verify the result.
After saving, check the installment's collected and outstanding amounts, whether it is partially or fully paid, and the corresponding cash account transaction.
Read the history of partial payments
Each partial collection creates a separate cash account transaction. The installment stores the cumulative amount paid, while the collection history shows each partial payment's date, amount, and cash account. The paid-in-full date is recorded only when the entire installment has been paid.
Do not try to infer the dates of partial payments from the installment's final paid-in-full date. Check the collection history for payments made on different dates or into different accounts. Course prevents another collection against a fully paid installment.
Check the dates and total in the payment plan
The balance remaining after the down payment is divided across the selected number of installments; any remainder from that division is added to the final installment. The first due date and selected period determine later due dates. Review every date when the plan starts near the end of a month: do not assume every installment will fall on the same calendar day.
Read total receivables and overdue receivables separately. Future installments that remain open are part of the outstanding balance but are not yet overdue. For payment tracking, check the currently open installments and actual transactions as well as the sale amount.
Frequently asked questions
Can an installment be paid in several parts?
Yes. You can record positive partial collections as long as they do not exceed the remaining balance. Each collection creates its own cash account transaction.
Does entering a down payment add money to a cash account?
No. The down payment on a sale affects the plan calculation; it does not create a cash account transaction by itself.
How much is overdue on a partially paid installment?
If the due date has passed, only the amount left after subtracting payments counts toward the overdue balance, not the full installment amount.
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