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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                                            

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        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.

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      Please click here for a list of Schar resources on www.bcidot.org . This publication originated in February 2002 and was.  UPTD: May 02, 2008

HOME  |  ABOUT  US   |    OUR PURPOSE   |   SITEMAP   |  COMPUTER FUND ACCTG  |  HELPS

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        (1) An Online Document, or WRIT (Writing), may be applicable to all Ministries, or it may be designed for just groups like: Evangelical Church, School, Missionary Agency or Organization, Christian Camp / Conference, or other named group.
        (2) WRIT formats include the perspective of Jim@bcidot.org  via IOMs (Inter-Office Memos) to the Ministry Finance Team (MFTeam); THRDs, or a hypothetical Online conversation (thread) with members of a MFTeam; FWIW; A periodic editorial (For What it is Worth); TRUISM, or believed Ministry Finance principles; or via a FAQ, or a response to Frequently Asked Questions.   

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