School Acct Balance Payment Options  7777-77  ZZar

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                  TO: Interested Schools                                                                      FROM: Jim Bramer, Retired CPA-Auditor 
                                                                                                                                    FILE: 7777-77/Schar 
                                                                                                                                               7777-17/Sch    

                   RE: School Acct Balance Payment Options                                 Originated:  February 2002                                            


        Listed below are some "WHERE and HOW" answers that a School might have regarding Parents/Students payments of Tuition and Fees due to a School.

                    WHERE     and      HOW

>>  At the School - by the Parent (or Student in college etc)      

  •  Cash - green stuff   

  •  Personal check from the Parent/Student

  •  Money Orders

  •  Plastic or Credit Card payment to the School as originated by the Parent/Student - see 7008 -  this could be either a Debit or Credit Card transaction.  Click here for some more info about the Debit Card.

>>  At the School - as originated by the School or authorized Outsource entity.

  •   Drafts - See  7006  for more details.

  •   Plastic, or Credit Card payment to the School as originated by the School - see 7008.  This could be either a Debit or Credit Card transaction.  Click here for some more info about the Debit Card.

  •   EFT (Electronic Funds Transfer) transaction that is in essence permission given by the Parent/Student for the School to write a certain check for a certain amount at a certain time on their checking account.

>>  Snail or regular Mail to School  -- ask us about a Parent/Student making payment at respective Financial Institution under the appropriate circumstances.

  •  Personal Check from the Parent/Student
  •  Money Orders

>>  Via the Internet

  •   PayPal or like kind of resource

  •   Plastic or Credit Card payment to the School as originated by the Parent/Student - see 7008  This could be either a Debit or Credit Card transaction.

     As explained when within  0907,  it is in the School's best interest for the School to be in charge of when the money comes to the School via the options above. Also it is generally a preferred practice, as indicated in  7005,  for the personal checks and money orders to be mailed directly to the School's bank account at their Financial Institution.

     Please go to   7013   for a list of known Outsource Companies that the School might retain to bill and collect the School's Tuition/Fees for them.

     Let me know at   Jim@bcidot.org  if you have any comments or questions on this topic.


      Please click here for a list of Schar resources on www.bcidot.org . This publication originated in February 2002 and was.  UPTD: June 04, 2010

ABOUT  US   |  OUR PURPOSE   |  TABLE OF CONTENTS   |  SEARCH  MATTERS  |  HELP DETAILS   |  FUND ACCTG VIA COMPUTERS   |  GLOSSARY