Deposit requests will be hidden from view for parents once the period that the deposit request is for has passed.
Deposit requests will be hidden from view for parents once the period that the deposit request is set for has passed. It is assumed that invoices will have been generated by this time or very shortly afterwards which makes the deposit request unnecessary.
For example, a deposit request is made for the four weeks from March 6 to March 30. After March 30 the deposit request will disappear from view for parents and they will no longer be obligated to pay it. Instead, they will be expected to pay any invoices that are created at this time in full.
How to use the Deposit Request Function
BASC often use this facility, this allows a provider for example who has a cancellation policy whereby they only refund 50% of a missed days attendance the opportunity to collect deposits to help prevent arrears.
It is also good to have commitment and a revenue stream that flows whilst you are reconciling and billing for the actual attendance.
However you can use this for any activity, and you can set the deposit amount yourself.
Where to add this option
When you set up your activity you will see under the invoice settings there is the option to select yes/no to a deposit:
You can set the deposit request to be for either:
- Every Week
- Four or Five Weeks
- Or the entire Term
For Advance bookings, we do think every five weeks works well with 5 weekly invoicing, making only 2 deposit requests and invoices every term.