ctcLink Accounting Manual | 50.30 Student Financials Processes

 
Due to state laws and governmental accounting guidance, colleges are required to separate tuition charges into multiple funds and classes:

1. Operating Fees (Tuition) – Split three (3) ways:
   1.  Institutional Financial Assistance (3.5%) locally retained in Fund 860 - Class 279.
   2.  Technology Innovation funds recorded in Fund 561 - Appropriation Index Z61 - Class 288 and remitted to the State Treasurer.  By state law the maximum portion is 3% of the Operating Fee. Currently, the State Board approved amount is 2%.
   3. Balance of Operating Fees locally retained must be recorded in Fund 149 - Class 509.
2. Building Fees (Tuition) - Split two (2) ways:
   1. Institutional Financial Assistance (3.5%) locally retained in Fund 860 - Class 279.
   2. Balance of Building Fee (96.5%) funds should be recorded in Fund 060 - Appropriation Index Z60 - Class 289 and remitted to the State Treasurer.  Building fee amount is established by the legislature.
3. Services and Activities (Tuition) - Split two (2) ways:
   1. Institutional Financial Assistance (3.5%) locally retained in Fund 860 - Class 279.
   2. Services and Activities (S&A) Fee (96.5%) funds retained locally and recorded in Fund 522 – Class 264.  Maximum amount is established by the legislature.

In addition, student fee charges (both mandatory and miscellaneous) are generally recorded in Fund 148 and 528 and may be split in several chartstrings.

State and GASB accounting rules require the payment to be recorded in the same chartstring as the original charge. In ctcLink, this is accomplished through several processes.

1. Tuition and Fee charges are split into multiple item types (operating, building and S&A) for each type of student (resident, non-resident, international, non-resident with operating differential, baccalaureate resident, baccalaureate non-resident, etc.) as described above.
2. Payment, financial aid and waiver item types have a design function to pick up the receivable chartstring from the original charge to the student account (See section 50.30.20 below).
3. This functionality does not allow the payment itself to pick up the chartstring from the original charge for the cash entry.  Therefore, a custom Fund Balancing process has been developed to ensure cash is recorded in the same chartstring as the receivable. (See section 50.30.30 below).

As noted in the Item Types section (CLAM 50.20), certain item types have the Pick Up Receivable From Charge (PURC) box checked.  Each payment/financial aid/waiver item type should have the PURC box checked. When the box is checked, the item type does not use the chartstring in the item type configuration. Instead it uses the full chartstring from the original charge (receivable) and reduces the receivable account associated with the original charge.

Peoplesoft is not designed to split payments (cash payments/financial aid/waivers) into multiple chartstrings. A customization unique to ctcLink was created which:

a.    Reverses the single line “WAxxx*LOCAL*7xxx*1000070 or 1000199*790**285*98009****N****”
or for waivers
“WAxxx*LOCAL*7xxx*40001xx*846**275*98299****N****” debit line with an equal credit amount.

b.    Creates new cash/waiver debit lines using the original account and the remaining chartstring from the receivable line created by PURC.

Fund balancing lines can be identified in the SF Accounting Line table begin with “10” inserted before the original line number. For example, if the original payment line number is ‘37385’ the related fund balancing line will be ‘10037385’.

Due to the use of PURC and Fund Balancing payment item types should be configured as shown below.

All cash/credit payment item types (7*) (cash/check/eCheck/credit card/EFT/wire) should be configured:

Dr/Cr	Bus Unit	Ledger	Oper Unit	Account	Fund	Class Code	Dept	State Purpose
Dr	WAxxx	LOCAL	7xxx	1000070	790	285	98009	N
Cr	WAxxx	LOCAL	7xxx	2000030	790	285	98009	N

Where the debit account is determined by the bank account (1000070-1000160) used for deposit.

All financial aid item types (9*) should be configured:

Dr/Cr	Bus Unit	Ledger	Oper Unit	Account	Fund	Class Code	Dept	State Purpose
Dr	WAxxx	LOCAL	7xxx	1000199	790	285	98009	N
Cr	WAxxx	LOCAL	7xxx	2000030	790	285	98009	N

All waiver item types (60*) should be configured:

Dr/Cr	Bus Unit	Ledger	Oper Unit	Account	Fund	Class Code	Dept	State Purpose
Dr	WAxxx	LOCAL	7xxx	40001xx	846	275	98299	N
Cr	WAxxx	LOCAL	7xxx	4000199	790	285	98299	N

Where the debit account (4000100-4000190) is determined by the waiver type.

All payment plan item types (68*) be configured:

Dr/Cr	Bus Unit	Ledger	Oper Unit	Account	Fund	Class Code	Dept	State Purpose
Dr	WAxxx	LOCAL	7xxx	1000199	790	285	98009	N
Cr	WAxxx	LOCAL	7xxx	1011105	790	285	98009	N

All third-party payment item types (62*) should be configured:

Dr/Cr	Bus Unit	Ledger	Oper Unit	Account	Fund	Class Code	Dept	State Purpose
Dr	WAxxx	LOCAL	7xxx	1000199	790	285	98009	N
Cr	WAxxx	LOCAL	7xxx	1010220	790	285	98009	N

This example demonstrates the entire process from charges to payments including PURC and Fund Balancing.

Accounting Steps

1. Operating Fees (Tuition) – Fund 149 with additional split into funds 860 (Institutional Financial Aid) and 561 (Innovation).
2. Building Fees (Tuition) – Fund 060 with additional split into fund 860 (Institutional Financial Aid).
3. Services and Activities Fees (Tuition) – Fund 522 with additional split into fund 860 (Institutional Financial Aid).
4. Mandatory (Dedicated Fees) – Fund 148 with possible splits between class codes and departments depending on the type of course.  It is also likely colleges may charge additional fees based on student usage (parking, etc.) which likely require splitting between additional class codes and departments.
5. Cash Payment – In this example a simple cash payment for the full amount due is used. The payment debit (cash) is always recorded in Fund 790-285-98009. The payment item type must have the Pick Up Receivable from Charge box checked, therefore the credit (relieving the receivable) will always use the chartstring from the original charges in steps 1, 2, 3 and 4.
   Since government accounting requires each fund to be balanced, recording the cash in Fund 790 and the relief of the receivable in other funds, this transaction will cause an error when sent to the general ledger. Therefore, the next step:
6. Fund Balancing – The cash entry to 790-285-98009 is reversed and distributed based upon the receivables being relieved.  For additional discussion see section 50.30.30.

 

Event	Step	Action	Account		Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
Charge	1	Receivable	1011010		1,099.33		149		509	ddddd
1xxxxxxxxxxx (Operating)	1	Receivable	1011010		41.151		860		279	ddddd
	1	Receivable	1011010		35.27		561	Z61	288	ddddd
	1	Revenue		4000020		(1,099.33)	149		509	ddddd
	1	Revenue		4000020		(41.15)	860		279	ddddd
	1	Revenue		4000020		(35.27)	561	Z61	288	ddddd
1xxxxxxxxxxx (Building)	2	Receivable	1011010		146.87		060	Z60	289	ddddd
	2	Receivable	1011010		5.331		860		279	ddddd
	2	Revenue		4000020		(146.87)	060	Z60	289	ddddd
	2	Revenue		4000020		(5.33)	860		279	ddddd
1xxxxxxxxxxx (S&A)	3	Receivable	1011010		152.52		522		264	ddddd
	3	Receivable	1011010		5.531		860		279	ddddd
	3	Revenue		4000020		(152.52)	522		264	ddddd
	3	Revenue		4000020		(5.53)	860		279	ddddd
2xxxxxxxxxxx (Fees)	4	Receivable	1011010		150.00		148		011	ddddd
	4	Revenue		4000020		(150.00)	148		011	ddddd
		Total			1,636.00	(1,636.00)

Cash Payment

**Pick Up Receivable From Charge (PURC) Box Checked

Item Type	DR/CR	Fund	Class	Dept	Account	Amount
700000000000	DR	790	285	98009	1000070	$1,636.00
	CR	790	285	98009	2000030

Cash Payment

Event	Step	Action	Account		Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
Payment	5	Cash	1000070		1,636.00		790		285	98009
700000000000 (Cash) Line="nnnnn"Eg "37385"	5	Receivable		1011010		(1,099.33)	149		509	ddddd
	5	Receivable		1011010		(52.01)1	860		279	ddddd
	5	Receivable		1011010		(35.27)	561	Z61	288	ddddd
	5	Receivable		1011010		(146.87)	060	Z60	289	ddddd
	5	Receivable		1011010		(152.52)	522		264	ddddd
	5	Receivable		1011010		(150.00)	148		011	ddddd
		Total			1,636.00	(1,636.00)

¹ Credit receivable amount is the combined amount from the operating, building and S&A dedicated to Institutional Financial Aid.

Cash Fund Balance

Event	Step	Action	Account		Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
Fund Bal	6	Cash	1000070		1,099.33		149		509	ddddd
CEMLI E-214Line="100nnnnn"Eg "10037385"	6	Cash	1000070		52.01		860		279	ddddd
	6	Cash	1000070		35.27		561	Z61	288	ddddd
	6	Cash	1000070		146.87		060	Z60	289	ddddd
	6	Cash	1000070		152.52		522		264	ddddd
	6	Cash	1000070		150.00		148		011	ddddd
	6	Cash		1000070		(1,636.00)	790		285	98009
		Total			1,636.00	(1,636.00)

When financial aid is applied to a student account to pay off charges the item type uses Pick Up Charge from Receivable and Fund Balancing to ensure the receivables are relieved and cash is recorded in the same chartstring as the original charges (revenue). The item type uses Internal Cash (1000199) because the transaction will not result in a change to college’s bank account.

Since the college internally paid the student charges on behalf of the student, the college must record that expense in Fund 846. And because the financial aid item type uses the internal cash account an offset of an equal amount of internal cash must be recorded in the accounting records (since internal cash must always net to zero).

To record this entry, a customized process was created to record the expense and internal cash.  The college must create a 2^nd Journal Set for each financial aid item type to record the expense and internal cash. 

2^nd Journal Set example

The process identifies all payments made using each 2^nd Journal Set item type to create a debit expense (account determined by funding source and type) and credit internal cash (always 1000199) transactions.

On a weekly or monthly basis colleges must request from SF Support the file for a specified period.

This file is then used to create a journal entry recording the expense and internal cash in the general ledger.  Before posting this journal, colleges must ensure the project, activity and analysis types are correct for all 2^nd Journal Sets posting to Fund 145 grants.

The college should also record a debit receivable and credit revenue to recognize the funds that will be received from the grantor.

When the grantor funds are received by the college, it will recognize the cash in bank (1000070) which completes the process.

Self-payment is relatively straightforward and includes fund balancing to ensure payment (cash) is recorded in the same chartstring as the charges/receivables since this item type Picks Up Receivable from Charge.

In the example below, the student’s payment did not exceed the amount owed so ‘Unapplied Student Liability’ (2000030) is not recorded.  If the student’s payment had exceeded the amount owed, the liability would be recorded and an unapplied amount would remain on the student account until a refund was issued.

1. Original tuition charges
2. Pay off original charges with cash/credit using cash in bank (1000070)
3. Cash payment fund balanced to original receivable chartstring

Charge

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
Charge	1	Receivable	1011010		$93.50		149		509	ddddd
1xxxxxxxxxxx	1	Receivable	1011010		3.50		860		279	ddddd
2xxxxxxxxxxx	1	Receivable	1011010		3.00		561	Z61	288	ddddd
3xxxxxxxxxxx	1	Chrg-Rev		4000020		$(93.50)	149		509	ddddd
	1	Chrg-Rev		4000020		(3.50)	860		279	ddddd
	1	Chrg-Rev		4000020		(3.00)	561	Z61	288	ddddd

Payment

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
Payment	2	Payment	1000070		$100.00		790		285	98009
Line no =	2	Pmt-Rec		1011010		$(93.50)	149		509	ddddd
“nnnnn”	2	Pmt-Rec		1011010		(3.50)	860		279	ddddd
Eg:”37385”	2	Pmt-Rec		1011010		(3.00)	561	Z61	288	ddddd

Fund Balancing

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
CEMLI E-214	3	Fund Bal	1000070		$93.50		149		509	ddddd
Line no =	3	Fund Bal	1000070		3.50		860		279	ddddd
“10nnnnn”	3	Fund Bal	1000070		3.00		561	Z61	288	ddddd
Eg:”1037385”	3	Fund Bal		1000070		$(100.00)	790		285	98009

The application of financial aid is recorded as a payment and includes fund balancing to ensure payment (internal cash) is recorded in the same chartstring as the charges/receivables since this item type Picks Up Receivable from Charge (PURC).

In the example below, the financial aid payment exceeds the amount owed so ‘Unapplied Student Liability’ (2000030) is recorded.  

1. Original tuition charges.
2. Pay off original charges with financial aid and internal cash (1000199).  Unapplied amount is recorded as Student Liability. This is refunded to the student either via BankMobile or a check issued to the student (see Section 50.30.60.3 below)
3. Internal cash payment fund balanced to original receivable chartstring.
4. 2nd Journal Set is used to record the expenditure and internal cash in Fund 846, Class 271 and department based on source and type of financial aid.

Charge

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
Charge	1	Rec	1011010		$93.50		149		509	ddddd
1xxxxxxxxxxx	1	Rec	1011010		3.50		860		279	ddddd
2xxxxxxxxxxx	1	Rec	1011010		3.00		561	Z61	288	ddddd
3xxxxxxxxxxx	1	Revenue		4000020		$(93.50)	149		509	ddddd
	1	Revenue		4000020		(3.50)	860		279	ddddd
	1	Revenue		4000020		(3.00)	561	Z61	288	ddddd

FA Applied

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
FA Applied	2	Pmt-Cash	1000199		$200.00		790		285	98009
9xxxxxxxxxxx	2	Pmt-Rec		1011010		$(93.50)	149		509	ddddd
Line no =	2	Pmt-Rec		1011010		(3.50)	860		279	ddddd
“nnnnn”	2	Pmt-Rec		1011010		(3.00)	561	Z61	288	ddddd
Eg:”37385”	2	Pmt-Liab		2000030		(100.00)	790		285	98009

CEMLI E214

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
CEMLI E214	3	Fund Bal	1000199		$93.50		149		509	ddddd
Line no =	3	Fund Bal	1000199		3.50		860		279	ddddd
“10nnnnn”	3	Fund Bal	1000199		3.00		561	Z61	288	ddddd
Eg:”1037385”	3	Fund Bal	1000199		100.00		790		285	98009
	3	Fund Bal		1000199		$(200.00)	790		285	98009

CEMLI E218

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
CEMLI E218	4	Custom JE	5020xxx		$200.00		846		271	ddddd
(2nd Jrnl  Set)	4	Custom JE		1000199		$(200.00)	846		271	ddddd

Student refunds are nearly identical for student self-pay or financial aid. Cash payments are usually refunded with a check, credit card payments may be refunded either by check or returned to the credit card. 

To initiate the student refund check, student financials staff must apply a check refund item type (5900000000xx) to the student account. This will send the liability to Accounts Payable using account 2000015.

For an electronic refund, student services should apply either a credit card or BankMobile refund item.  Then, either cashiering or finance staff must process the refund to the student credit card or submit an EFT to Bank Mobile, depending on the fund type See Step 5d below).

In the example below, the financial aid payment exceeds the amount owed so ‘Unapplied Student Liability’ (2000030) is recorded.  

• 5a – When a refund item type is applied to the student account, ctcLink will credit the Unapplied Student Liability (2000030) and debit the liability account (2000015) recorded in the AP Chartfield portion of the Refund Item Type configuration (The use of 2000015 enables the college to determine which AP entries originated in Student Financials vs Finance).
• 5b – The AP Chartfield is sent to Accounts Payable in Finance to create a voucher for payment. This process converts the SF liability account to an AP liability account (2000010).
• 5c – When the check is issued AP relieves the AP liability account and credits cash.
• 5d – Electronic payments using Bank Mobile, credit card, EFT or wire funds are initiated when student services applies an EFT Item Type (590000000xxx) to the student account.  Different Item Types are used to initiate the refund allowing colleges to track each refund type.

Since these refunds are processed directly with the bank, they are not sent to Accounts Payable.  Instead the Unapplied Student Liability account is debited and cash in bank is credited.

Student Check Refund

Send to GL

Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
5a	Refund	2000030		$100.00		790		285	ddddd
5a	Refund		2000015		$(100.00)	790		285	ddddd

Voucher Created

Step 5b and 5c occur in the Accounts Payable module in Finance.

Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
5b	Voucher	2000015		$100.00		790		285	ddddd
5b	Voucher		2000010		$(100.00)	790		285	ddddd

Student Electronic Refund

Check Issued

Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
5c	Payment	2000010		$100.00		790		285	ddddd
5c	Payment		1000070		$(100.00)	790		285	ddddd

Or

EFT-Initiated Event

Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
5d	Refund	2000030		$100.00		790		285	ddddd
5d	Refund		1000070		$(100.00)	790		285	ddddd

Financial Aid staff adjust award based on student’s discontinuation of attendance based on federal, state and college rules for refunding.

When the adjustment is applied, it generates an entry on the student account using the item type associated with the financial aid source.  For example, Pell:

Award Adjustment is applied (i.e. negative payment) using the original item type (9xxxxxxxxxxx):

• Cr Internal Cash (1000199)
• Dr Receivable (Pick Up Receivable from Charge is used)

Second Journal reverses the original financial aid expense:

• Cr Expense (5020xxx)
• Dr Internal Cash (1000199)

Financial Aid Refund Adjust (payment) is applied using item type 709610000000

• Cr Receivable (Pick Up Receivable from Charge is used)
• Dr Internal Cash (1000199)

Financial Aid Adjustment Due (charge) is applied using item type 496100000000

• Cr Internal Cash (1000199)
• Dr Student R2T4 Loan Receivable (1011120)

 College returns funds to the Department of Education (ED).  This reverses the original revenue and cash received from ED.

The application of financial aid is recorded as a payment and includes fund balancing to ensure payment (internal cash) is recorded in the same chartstring as the charges/receivables since this item type Picks Up Receivable from Charge (PURC).

In the example below, the financial aid payment exceeds the amount owed so an ‘Unapplied Student Liability’ (2000030) is recorded.  

1. Original tuition charges.
2. Pay off original charges with financial aid and internal cash (1000199).  Unapplied amount is recorded as a Student Liability. This is refunded to the student either via BankMobile or a check issued to the student (see Section 50.30.60.3 above).
3.  Internal cash payment fund balanced to original receivable chartstring.
4.  2nd Journal Set is used to record the expenditure and internal cash in Fund 846, Class 271 and department based on source and type of financial aid.
5. When the adjustment to financial aid is applied to the student account by financial aid staff, an entry is generated in which the original award item type transaction is reversed in the amount of the adjustment. Assuming the student had not earned any of the refund and was not eligible for tuition reimbursement.
6.  2nd Journal Set is used to record the reversal of expenditure and internal cash in Fund 846, Class 271 and department based on source and type of financial aid.
7.  Charges are removed (paid) using the payment Item Type 70961xxxxxxx.  This item should only be used in conjunction with Item Type 49610xxxxxxx.
8.  New charges are applied recording a Student Loan Receivable and Internal Cash with Item Type 49610xxxxxxx.
9. Student repayment is recorded reducing the receivable and increasing Cash In Bank.
10. Although not required since it is a single chartstring, ctcLink will run the fund balancing process since fund balancing is triggered by any payment or waiver item type.

Charge

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring  Class	Chartstring Dept
Charge	1	Receivable	1011010		$93.50		149		509	ddddd
1xxxxxxxxxxx	1	Receivable	1011010		3.50		860		279	ddddd
2xxxxxxxxxxx	1	Receivable	1011010		3.00		561	Z61	288	ddddd
3xxxxxxxxxxx	1	Revenue		4000020		$(93.50)	149		509	ddddd
	1	Revenue		4000020		(3.50)	860		279	ddddd
	1	Revenue		4000020		(3.00)	561	Z61	288	ddddd

FA Applied

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring   Fund	Chartstring AI	Chartstring   Class	Chartstring Dept
FA Applied	2	Pmt-Cash	1000199		$200.00		790		285	98009
9xxxxxxxxxxx	2	Pmt-Rec		1011010		$(93.50)	149		509	ddddd
Line no =	2	Pmt-Rec		1011010		(3.50)	860		279	ddddd
“nnnnn”	2	Pmt-Rec		1011010		(3.00)	561	Z61	288	ddddd
Eg:”37385”	2	Pmt-Liab		2000030		(100.00)	790		285	98009

CEMLI E214

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring   Fund	Chartstring AI	Chartstring   Class	Chartstring Dept
CEMLI E-214	3	Int Cash	1000199		$93.50		149		509	ddddd
Line no =	3	Int Cash	1000199		3.50		860		279	ddddd
“10nnnnn”	3	Int Cash	1000199		3.00		561	Z61	288	ddddd
Eg:”1037385”	3	Int Cash	1000199		100.00		790		285	98009
	3	Int Cash		1000199		$(200.00)	790		285	98009

CEMLI-E218

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring   Fund	Chartstring AI	Chartstring   Class	Chartstring Dept
CEMLI-E218	4	FA Exp	5020xxx		$200.00		846		271	ddddd
(2nd Jrnl  Set)	4	Int Cash		1000199		$(200.00)	846		271	ddddd

FA Adjusted

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
FA Adjusted	5	Pmt-Rec	1011010		$93.50		149		509	ddddd
9xxxxxxxxxxx	5	Pmt-Rec	1011010		3.50		860		279	ddddd
Line no =	5	Pmt-Rec	1011010		3.00		561	Z61	288	ddddd
“nnnnn”	5	Pmt-Liab	2000030		100.00		790		285	98009
Eg:”37385”	5	Pmt-Cash		1000199		$(200.00)	790		285	98009

CEMLI-E218

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
CEMLI-E218	6	Int Cash	1000199		$200.00		846		271	ddddd
(2nd Jrnl  Set)	6	FA Exp		5020xxx		$(200.00)	846		271	ddddd

FA Refund Adjustment

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
FA Rfnd Adj	7	Pmt-Cash	1000199		$200.00		790		285	98009
70961xxxxxxx	7	Pmt-Rec		1011010		$(93.50)	149		509	ddddd
Line no =	7	Pmt-Rec		1011010		(3.50)	860		279	ddddd
“nnnnn”	7	Pmt-Rec		1011010		(3.00)	561	Z61	288	ddddd
Eg:”37385”	7	Pmt-Liab		2000030		(100.00)	790		285	98009

FA Adjustment Due

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
FA Adj Due	8	Rec	1011120		$200.00		846		271	ddddd
49610000xxxx	8	Int Cash		1000199		$(200.00)	846		271	ddddd

Student Repay

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
Stdt Repay	9	Bnk Cash	1000070		$200.00		846		271	ddddd
7000xxxxxxxx	9	Rec		1011120		$(200.00)	846		271	ddddd

CEMLI E-214

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
CEMLI E-214	10	Bnk Cash	1000070		$200.00		846		271	ddddd
(Fund Bal)	10	Bnk Cash		1000070		$(200.00)	846		271	ddddd

Waivers behave in a manner similar to payments in that the receivable is relieved but a debit to a contra-revenue is recorded instead of cash. Below is the list of waiver accounts:

Account	Waiver Account Title
4000100	Tuition & Fee Waiver
4000105	Tuition & Fee Waiver-Need
4000110	Tuition & Fee Waiver-Non-Need
4000115	Tuition & Fee Waiver-Athletic
4000118	Tuition & Fee Waiver-Athletic Gender Equity

The account used is determined by the Waiver Item Type configuration.

The fund balancing process records the contra-revenue into the chartstring where the original revenue is recorded.

Although the Item Type is configured using Fund 846 Class 275m the waiver is recorded in the chartstring of the original charges (receivable/revenue) due to PURC and Fund Balancing.

1. Original tuition charges.
2. Waiver reduces the receivable for waiver allowed amounts and records a contra-revenue.
3. Waiver fund balanced to original receivable chartstring.

Charge

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
Charge	1	Receivable	1011010		$93.50		149		509	ddddd
1xxxxxxxxxxx	1	Receivable	1011010		3.50		860		279	ddddd
2xxxxxxxxxxx	1	Receivable	1011010		3.00		561	Z61	288	ddddd
3xxxxxxxxxxx	1	Revenue		4000020		$(93.50)	149		509	ddddd
	1	Revenue		4000020		(3.50)	860		279	ddddd
	1	Revenue		4000020		(3.00)	561	Z61	288	ddddd

Payment

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
Payment	2	Waiver	40001xx		$100.00		790		285	98009
Line no =	2	Receivable		1011010		$(93.50)	149		509	ddddd
“nnnnn”	2	Receivable		1011010		(3.50)	860		279	ddddd
Eg:”37385”	2	Receivable		1011010		(3.00)	561	Z61	288	ddddd

CEMLI E-214

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
CEMLI E-214	3	Fund Bal	40001xx		$93.50		149		509	ddddd
Line no =	3	Fund Bal	40001xx		3.50		860		279	ddddd
“10nnnnn”	3	Fund Bal	40001xx		3.00		561	Z61	288	ddddd
Eg:”1037385”	3	Fund Bal	1000199			$(100.00)	790		285	98009

Some colleges have elected to offer payment plans to students. The payment plans could be managed by the college or Nelnet. This allows students to make weekly/monthly payments instead of paying the entire amount at the beginning of the term.

Moving students to a payment plan is a 2-step process in which all the charges (operating, building, S&A and fees) are ‘paid off’ and a new single payment plan charge is applied.

1. Original tuition charges.
2. Pay off original charges with payment plan item type (680000000xxx) using internal cash (1000199). Since this is a payment item type, it should use 2000030 Student Liability ST as the credit (for any unapplied amounts, which is rare).
3. Payment Plan payment fund balanced to original receivable chartstring.
4. Payment plan charges applied (380000000xxx) to student account with payment plan receivable (1011100) and internal cash (1000199).
5. Payment made by student relieving receivable (directly for college payment plans or a Nelnet payment) for 1/3 of the outstanding balance.
6. Cash payment is fund balanced to receivable chartstring.

Charge

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
Charge	1	Receivable	1011010		$93.50		149		509	ddddd
1xxxxxxxxxxx	1	Receivable	1011010		3.50		860		279	ddddd
2xxxxxxxxxxx	1	Receivable	1011010		3.00		561	Z61	288	ddddd
3xxxxxxxxxxx	1	Revenue		4000020		$(93.50)	149		509	ddddd
	1	Revenue		4000020		(3.50)	860		279	ddddd
	1	Revenue		4000020		(3.00)	561	Z61	288	ddddd

Payment

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
Payment	2	Int Cash	1000199		$100.00		790		285	98009
Item Type =	2	Receivable		1011010		$(93.50)	149		509	ddddd
680000000xxx	2	Receivable		1011010		(3.50)	860		279	ddddd
	2	Receivable		1011010		(3.00)	561	Z61	288	ddddd

CEMLI E-214

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
CEMLI E-214	3	Fund Bal	1000199		$93.50		149		509	ddddd
Line no =	3	Fund Bal	1000199		3.50		860		279	ddddd
“10nnnnn”	3	Fund Bal	1000199		3.00		561	Z61	288	ddddd
Eg:”1037385”	3	Fund Bal		1000199		$(100.00)	790		285	98009

Recharge

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
Recharge	4	Receivable	1011100		$100.00		849		272	ddddd
380000000xxx	4	Int Cash		1000199		$(100.00)	849		272	ddddd

Payment

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
Payment	5	Pmt-Cash	1000070		$33.34		790		285	98009
7000000xxxxx	5	Receivable		1011100		$(33.34)	849		272	ddddd

CEMLI E-214

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
CEMLI E-214	6	Fund Bal	1000070		$33.34		849		272	ddddd
See above	6	Fund Bal		1000070		$(33.34)	790		285	98009

Collection agreements work in a manner similar to payment plans.

Moving students to collections is a 2-step process in which all the charges (operating, building, S&A and fees) are ‘paid off’ and a new single collections charge is applied.

1. Original tuition charges with fund balancing
2. Pay off original charges with collection agreement item type (690000000xxx) using internal cash (1000199). Since this is a payment item type, it should use 2000030 Student Liability ST as the credit (for any unapplied amounts, which is rare).
3.  Collection agreement payment fund balanced to original receivable chartstring.
4. Collection agreement charges applied (390000000xxx) to student account with collections receivable (1010070) and internal cash (1000199).
5. Payment made by collection agency relieving receivable.
6. Cash payment is fund balanced to receivable chartstring.

Charge

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
Charge	1	Receivable	1011010		$93.50		149		509	ddddd
1xxxxxxxxxxx	1	Receivable	1011010		3.50		860		279	ddddd
2xxxxxxxxxxx	1	Receivable	1011010		3.00		561	Z61	288	ddddd
3xxxxxxxxxxx	1	Revenue		4000020		$(93.50)	149		509	ddddd
	1	Revenue		4000020		(3.50)	860		279	ddddd
	1	Revenue		4000020		(3.00)	561	Z61	288	ddddd

Payment

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
Payment	2	Int Cash	1000199		$100.00		790		285	98009
Item Type =	2	Receivable		1011010		$(93.50)	149		509	ddddd
690000000xxx	2	Receivable		1011010		(3.50)	860		279	ddddd
	2	Receivable		1011010		(3.00)	561	Z61	288	ddddd

CEMLI E-214

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
CEMLI E-214	3	Fund Bal	1000199		$93.50		149		509	ddddd
Line no =	3	Fund Bal	1000199		3.50		860		279	ddddd
“10nnnnn”	3	Fund Bal	1000199		3.00		561	Z61	288	ddddd
Eg:”1037385”	3	Fund Bal		1000199		$(100.00)	790		285	98009

Recharge

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
Recharge	4	Receivable	1011100		$100.00		849		272	ddddd
390000000xxx	4	Int Cash		1000199		$(100.00)	849		272	ddddd

Payment

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
Payment	5	Pmt-Cash	1000070		$33.34		790		285	98009
7000000xxxxx	5	Receivable		1011100		$(33.34)	849		272	ddddd

CEMLI E-214

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
CEMLI E-214	6	Fund Bal	1000070		$33.34		849		272	ddddd
See above	6	Fund Bal		1000070		$(33.34)	790		285	98009

Some students might receive benefits through a third party like Labor and Industries or Veteran Affairs.

Moving tuition charges to a third party (TPC) is a 2-step process in which all the charges (operating, building, S&A and fees) are ‘paid off’ and a new single payment plan charge is applied to the third party.

1.  Original tuition charges.
2. Pay off original charges with payment plan item type (620000xxxxxx) using internal cash (1000199).  This clears the student account of all charges eligible to be paid by Third Party Contract.
3.  Cash payment fund balanced to original receivable chartstring.
4.  Third Party Account charges applied (32000xxxxxxx) to the external organization account (third party) with a receivable (1011xxx) and internal cash (1000199).
5. Payment made by the third party relieving receivable. If the third party denies any charges, the receivables are cleared and the charges returned to the student account.
6. Cash payment is fund balanced to receivable chartstring.

Charge

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
Charge	1	Receivable	1011010		$93.50		149		509	ddddd
1xxxxxxxxxxx	1	Receivable	1011010		3.50		860		279	ddddd
2xxxxxxxxxxx	1	Receivable	1011010		3.00		561	Z61	288	ddddd
3xxxxxxxxxxx	1	Revenue		4000020		$(93.50)	149		509	ddddd
	1	Revenue		4000020		(3.50)	860		279	ddddd
	1	Revenue		4000020		(3.00)	561	Z61	288	ddddd

Payment

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
Payment	2	Int Cash	1000199		$100.00		790		285	98009
Item Type =	2	Receivable		1011010		$(93.50)	149		509	ddddd
620000xxxxxx	2	Receivable		1011010		(3.50)	860		279	ddddd
	2	Receivable		1011010		(3.00)	561	Z61	288	ddddd

CEMLI E-214

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
CEMLI E-214	3	Fund Bal	1000199		$93.50		149		509	ddddd
Line no =	3	Fund Bal	1000199		3.50		860		279	ddddd
“10nnnnn”	3	Fund Bal	1000199		3.00		561	Z61	288	ddddd
Eg:”1037385”	3	Fund Bal		1000199		$(100.00)	790		285	98009

TPC Charge

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
TPC Charge	4	Receivable	1011100		$100.00		849		272	ddddd
320000xxxxxx	4	Int Cash		1000199		$(100.00)	849		272	ddddd

TPC Payment

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
TPC Pmt	5	Pmt-Cash	1000070		$100.00		790		285	98009
7000000xxxxx	5	Receivable		1011100		$(100.00)	849		272	ddddd

CEMLI E-214

Event	Step	Action	Account	Account 2	Dr	Cr	Chartstring Fund	Chartstring AI	Chartstring Class	Chartstring Dept
CEMLI E-214	6	Fund Bal	1000070		$100.00		849		272	ddddd
See above	6	Fund Bal		1000070		$(100.00)	790		285	98009