The Contract Type Billing Option Window
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In Martial Class™ you can set up multiple payment options for contracts, such as up-front, fortnightly, monthly, or just about any regular system.

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Billing option setup is very powerful, and takes only a few minutes to understand.

When setting up or editing a billing option, bear these points in mind:

document Total Contract Cost and Down Payment
The total contract cost and down payment fields must be filled in first. The total contract cost represents the total outlay at the end of the period. A $100 down and 12 instalments of $40 contract would equate to a total contract cost of $340, this is the Total Contract Cost figure.

document Record As
You need to specify the type of bill item to use to record downpayments and periodic transactions. This can be any bill type you create.

document Begin
The Begin setting is used to specify when the payments should start, relative to either the start date of the contract period, or the day the contract is "signed" on the system.

You may wish to have a downpayment and then have the first scheduled payment start one month later. This start delay for payments does not determine the date of the first payment, it simply defines a blackout period in which the first payment can not be applied. The actual payment dates are determined by the following settings.

NOTE: Most schools will probably want to have this set as Start of Contract.

document Instalment Value, Number of Instalments and Last Payment Amount
Once you specify the total contract cost and the downpayment, any remaining payment amount or number of payments is automatically calculated according to which option you choose to specify.

The Last Payment Amount indicates the amount that will be due on the final payment day as this may vary slightly due to uneven division of the remaining amount.

document Day option group
The day option group is used to specify the day of the week to be applied to the nth week or nth week of month scheduling options.

document nth Week option
This option allows you to target a certain day on every week or every second, third, etc week.

document nth Week of month option
This option allows you to target a day of the week in certain areas of the month on every month or every second, third, etc month.

document Date in month option
The Date in month option allows you to target a specific date in every month or every second, third, etc month.

document Date Locked setting
The date locked setting allows you to "lock" a setting to a certain date in the past or future. This is important for such cases where your billing service allows fortnightly payments but only on the 1/1/2004 (which was a Thursday) and each fortnight thereafter. If you set this date and setup a Thursday or every 2 week rule, then no matter when you sign the contract or set start/end dates, a payment could never be scheduled for the 8/1/2004 as this was on the off week.

In Australia, and some other countries, this can also be used to schedule payments for Public Service or Government Agency pay weeks, thus being convenient for your students to remember when fees are due.