We are happy to announce that we are currently collaborating with Sigma Systems, a leading provider of student financial services software, on a joint undertaking to develop the Kuali Student Accounts module.
What it Does
The Student Accounts module is the student financial services component built to support student accounting needs including tuition, room and board charges, financial aid credits and subsequent billing statements. This module will also interface summary data to the general ledger. KSA is a significant component of the student-institution relationship. It consists of the following key business processes:
- Receivables Management
- Payment Billing (Installments Plans)
- Fee Management (Tuition and Fee calculation)
- Third Party Billing (Sponsorship Plans)
- Collections Management
- Robust and flexible automatic payment application.
What makes it “Next-Gen”
- KSA has been built with service-oriented code to encourage reusability and to enable flexible arrangement of business processes through the use of user defined rules.
- Services like transaction upload and fee assessment are exposed, enabling easy integration and plug-in ability with shared Kuali modules and enterprise interactions.
- Designed with the needs of higher education in mind, reducing the workarounds needed:
- Automatic rebilling of students when a sponsor doesn’t pay
- Automatic fee assessment
- Automatic allocation of payments to charges following user-defined rules, and including the ability to ensure that financial aid is only used for educational purposes.
- Automatic de-application of payments, including financial-aid refunds
- Brings home a number of commonly outsourced processes (installment billing, third party, online account access)
- Reduces time spent moving or reversing transactions by automating complicated transactions
- Provides greater level of detail about transactions to improve student communication, especially ensuring students know “who to call”
How it Works
The KSA module takes course and fee content from the Kuali Enrollment module (or your system’s equivalent) to evaluate tuition charges, consolidates them with other institutional charges, and then applies KSA business rules to determine final charges and credits unique to each student. The system is designed to run in real time, but it will also run in a batch mode to support large processes such as an export to the general ledger when needed.
KSA Founders' Release is now available.
University of Maryland, the key player in the joint development of KSA with Sigma, is currently engaged in multiple Kuali impementations and is planning a timeline for implementing KSA. Stay tuned for information regarding a public release.
Can't wait? Interested parties that would like to leverage this product now can speak to email@example.com and we can talk about making this exclusive Founders release available...