Go to Scholarships from the Home page
- Choose Add Recipient from the left side menu
- Select the Scholarship that you are awarding
- Choose a Student
- To Create a $2000 scholarship, enter 2000 in Scholarship Amount
- Pick an Award date of 7/1/2015
- Select Add
The software database uses the 7/1/2015 date and expenses the entire scholarship amount on that date. It shows up in Scholarship Payable for $2000.
Next, you will create a payment schedule - this is applicable for one time scholarships or multi-year scholarships. Your payment schedule date(s) are the date(s) you will be cutting the check(s). In our example we will do two $1000 payments:
- $1000 on 7/10/2015
- $1000 on 7/10/2016
You can do this by choosing Add Payment Date from the left.
- Pick the Payment Date you will cut the check and enter an amount in Open Amt - in this case, 1000
- Optional (if known): Select [set] in the School column, next to Undecided, to select a School
- Optional (if known): Choose  in the Student Number column to enter the student number
- NOTE: School/Grantee needs to be set in order to pay out a scholarship
The scholarship will have a remaining amount that needs to be scheduled out.
- Pick Add Payment Date from the left again and enter the amount and the next date you plan to pay the Scholarship
- Choose the Save button
Now you can Post the Scholarship to your books - choose Post from the left. You cannot post a scholarship into a closed period.
You will now see a red [pay] option for the scholarship you posted (if the school has been selected).
When you are ready to pay the Scholarship, select [pay] (red) and you will see Post & Get Approval on the left to send the payment to your Grant Approver(s).
- Once Approved, select [pay] in the Grant Payment Schedule table under the CheckID column
- You will be in Accounts Payable to pay the Voucher that pays the scholarship
- Choose the Payment Account (eg. Checking) and the payment date of the check
- Verify the amount and choose the Apply Amount checkbox
- Choose the Next button
The system uses the original date (ie. 7/10/2015) as the date of the Scholarship (Grant), then the Scholarship is tracked as a Grant, it will go through the Grant process where it needs to be approved, and following approval, the Grant (Scholarship) goes to Vouchers to be paid.
- When a voucher is created the transaction moves the money from Scholarships Payable and puts the money into Accounts Payable for the $1000 amount (dated 7/10/2015).
- When writing a check, users can select the actual date the check is cut.
- Writing a check moves the $ from Accounts Payable to cash (the amount to be paid out).