Finance management on DreamApply Knowledge Base

Finance basics

Mon, 01 Jan 0001 00:00:00 +0000

The Finance module uses a set of components to support finance management. These components work together to cover all major financial operations such as fee collection, invoice generation, payment tracking and provide transparent and accurate billing.

Fees
Additional services
Invoices
VAT rules
Payment gateways
Grants and scholarships

Fees

In DreamApply, fees are charges associated with different stages of the admission process. They represent costs that applicants must pay to proceed with their application or get access to services such as tuition or accommodation.

Manage fees

Mon, 01 Jan 0001 00:00:00 +0000

In DreamApply, fees represent charges linked to specific programmes. You can set up various types of fees, define their amounts and geographical variations.

To define which fee must be applied, DreamApply uses the territory hierarchy. It checks for a fee starting from the most specific territory and moves up to more general levels. For example:

If a specific fee is set for a country, that fee will be applied for applicants whose citizenship is set to that country.
If no fee is set for a country, the system checks the region to which the country belongs.
If no regional fee is found, the system applies the global (World) fee.

You can mark a fee as visible or hidden. All visible fees for a programme are displayed in the fees section on the programme description page.

Set up VAT rules

Mon, 01 Jan 0001 00:00:00 +0000

To follow local tax laws and correctly calculate the charges on invoices, you need to set up VAT (Value Added Tax) rules in DreamApply. When an invoice is created, DreamApply adds the VAT amount to the total fee and shows it as a separate line on all receipts and invoices generated by the system.

To define which VAT rate must be applied, DreamApply uses the territory hierarchy. It checks for a rate starting from the most specific territory and moves up to more general levels. For example:

Offer additional services

Mon, 01 Jan 0001 00:00:00 +0000

You can set up an inventory of additional services and items in DreamApply. Inventory items represent institution-specific offerings that applicants can choose to purchase during the admission process.

DreamApply allows setting up two types of inventory items:

Visible items shown to applicants directly in the DreamApply portal
Hidden items not publicly visible but accessible through a private link

Applicants get access to a full list of visible inventory items after they submit their applications. To purchase an item, they can add it to the shopping cart and complete the checkout process within the system.