Expiring Discounts help to incentivize family members to pay their invoices on time. Many centers use Expiring Discounts to offer a small percentage off of their tuition payments if a parent pays on or before the invoice due date. The idea is if you pay early, you receive a discount.
Managing these manually can be difficult. Instead of individually assessing additional fees to late payers, MomentPath can help automate the process.
Here is how the process works:
A parent is issued an invoice with an expiring discount. Let’s say the weekly tuition cost for her child is $100, but if she pays before the invoice is due she receives a 5% discount.
1. The parent is issued an invoice for $100 with a $5 discount.
2. If the parent pays before the invoice is due, she will pay $95.
3. One day after the due date, MomentPath issues a new invoice (that replaces the old invoice) for $100. The discount is removed.
If you would like to set up an expiring discount to encourage early payment, follow these steps!
1. Tap on the “Billing” tab on the left-hand menu, then tap on the “Settings” tab
2. Under the “Discount and Payers” section, tap the “Manage Discounts” button.
3. Tap the “Add New Discount” button.
4. Fill in the discount code with lower case letters and no spaces between words. The Discount name will be the name you see in the app. Then enter the amount and indicate whether it is a percentage or a dollar amount. Finally, make sure to check the box that says “Expires at the end of grace period” and tap “Save”.
You’ve done it! You can also use this section to create other discounts. To apply the discounts to a child, be sure to read this handy guide
For additional help, please reach out to email@example.com