Tuition Ledgers allow you to:
Offer installment payments to customers on courses or semesters. (much like you'd pay tuition for a child in series of classes per college semester).
Give discounts to those who have spent more in the past.
Show a payment schedule preview to customers before they buy.
Cap total tuition payments for parents with multiple children.
Tuition Ledgers can be used on:
Semesters, also known as Terms or Series.
Courses, also known as Trainings or Challenges.
Split large payments into smaller ones
Tuition Ledgers are popular with dance studios and other businesses that run Terms or Semesters, where splitting large tuition costs into smaller payments appeals to buyers.
Show your customers their payment schedule before they buy
Here's an example of how the tuition charges can display to a customer booking a semester that lasts from August to May and costs $870. They'll be able to preview the payment schedule ahead of booking.
Give discounts to big spenders based on their spending history, not their current transaction
When creating a Tuition Ledger, you can choose the terms for when these discounts are given. For example, book two or more classes (or enroll multiple children) to receive a discount of, say, 20% off.
Discounts are given based on a customer's purchase history, not just their current cart.
For example, here we've created a Tuition Ledger with a discount of 20% off, applied it to a Series priced at $2500. The 20% discount is given to those who sign up two or more children.
Below, on the left, is what a parent will see the first time they sign up one of their children. Fast forward to the next time they're booking the same series (but for their second child this time), and they are now rewarded with the 20% discount.
Create a Tuition Ledger
To create a Tuition Ledger, click Classes > Tuition Ledgers > create one with a specific Semester or Series in mind.
Ledgers can be applied to the following: Semesters, also known as Terms or Series, or Courses, also known as Trainings or Challenges.
Set your payment dates when customers will be charged (note this will divide the total price of the series by the number of payment dates you choose).
Under Additional settings, consider if you'll only allow booking with this tuition ledger, meaning that if this ledger gets assigned to a series, and a customer goes to book that series they'll be required to use the ledger's payment schedule.
Also consider using a tuition price cap, which is basically a way to make sure one customer (or parent) doesn’t pay more than this amount if they book themselves (or their children) into many courses/semesters that all use the same tuition payment plan.
For example, if you offer 3 courses priced $1000 each, and you've created a tuition plan with three installment dates, then without a price cap a parent who signs their two children up for all 3 courses will pay a total of $6000 divided into 3 installments of $2000.
To give parents with multiple kids a financial break and incentivize them to register, you might consider using a price cap of, say $5100 -- so that parents with one kid pay a total of $3000 divided into 3 installments and parents of 2 kids pay no more than $5100, divided into 3 installments.
The price cap discount also applies for a single customer that signs up for all 3 classes. Ie. they won't pay more than 5100 if they sign up for 6000 worth of classes -- as long as those classes all use the the same tuition ledger.
Then create the Semester (or Course) to use the ledger with > click Classes > New Class > One-Off > Semester or Course > fill in the prompts.
After adding the price, just below, you'll see a dropdown menu to select the Tuition Ledger to apply to this course.
After saving changes, you can preview what customers will see by clicking the class signup link.
How does a customer pay using a tuition ledger?
Customers can select a tuition plan in self checkout. Or, you can ring them up using POS.
Customer self checkout
When customers are registering for a class, they'll see an option to register using the tuition option. They'll be able to preview the scheduled payments before checking the box to use the tuition plan.
Below, the customer has selected the tuition option. Notice how the total of $1922.73 has been removed. Note that this option will only show for classes you've assigned to this tuition plan.
Ringing up customers using POS
In POS, if the class you've added to the cart is included in a tuition plan, you'll see a tuition dropdown appear just below the class.
After selecting the tuition plan from the dropdown, you'll find this tuition option under Payment.
Select it to see the customer's Tuition Ledger installment schedule. You can then select 'Pay with Tuition'.
What happens if I ring the same customer up for another class that's also included in this same tuition plan?
Taking the example above, lets check to see what happens when we ring Jim up for another class that costs $1000.
In this case, Momence adds this new tuition cost to the existing one and displays the new, single monthly cost he'll pay for both classes.
Note that if you've set a cap for the tuition plan, the customer will not pay more than that cap amount.