Student Sponsor - Education Sector

Caroline Buckland Updated by Caroline Buckland

Student Sponsor overview

A student attending a university may have a number of sponsors (e.g. student loan company, parents, prospective work employer etc.) who will be funding their accommodation, tuition fees or other costs associated with their course. Each of these sponsors may in turn sponsor other students for their course fees. In order to facilitate these types of customers new functionality has been added to allow a relationship between the accounts.

Additional transaction enquiries allow the viewing of transactions within these relationships, thus student accounts has the ability to see a list of associated sponsors and from this screen view a list of transactions relating to that student but that are actually held on the sponsor account. Conversely, an enquiry on a sponsor account will allow the ability to view all transactions for a specific student and then provide a further link to allow the viewing of all transactions regardless of sponsor for the student.

Further transaction data has been available that will enable student-related information to be held against AR transactions. These additional fields are available to be entered via Sales Invoices and Cash/Adjustment entry.

Transaction amendment is available on these fields so they can be changed once the transaction has been created.

When payments are received from a sponsor (e.g. Student Loan Company) to pay transactions on behalf of a student, these payments will be held against the sponsor account and auto allocation will be required for these transactions to match against the relevant invoices for the student.

Frequently, however, the information held on the payment will not fully identify the student transaction that must be allocated, so two new auto allocation algorithms have been created to aid in the identification of the correct invoices to be paid.

The Funders and Students are setup in the usual way you would setup normal customers, this document explains how you can add the relationships between Funder and Student and the processing involved.

Select the link below to view a setup and processing guide.

Student Sponsor workbook V1 (1).pdf

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