This is the workflow for paying a scholarship award if Auto Approval is selected when creating the scholarship opportunity.
Important: It is recommended to disable Auto Approve for a scholarship that uses the Post by Payment option. When Post by Payment and Auto Approve are enabled together, each payment is recognized and immediately advanced to Accounts Payable based on its Payment Date. Because this approach delays recognition of scholarship liabilities until payment, organizations should consult their auditors before implementing Post by Payment and ensure the configuration aligns with their accounting policies.
- Once all scholarship award information is entered, including all payments and payment information, click Post in the left-side menu.
- Scholarship Award Letters can be processed from the Award Letter bucket, if applicable, once the scholarship is posted.
- Click set in the Approved column next to the applicable payment in the Recipient Payments section.
- In the Recipient Payments section, click pay to pay the voucher associated with the payment and create a check.
- Clicking pay does not pay the scholarship. The scholarship will now be ready to pay as an open voucher.
- The next step is to pay the scholarship award from Accounts Payable (AP).
- Scholarship Letters can be processed from the Documents bucket in Scholarships, once the check has been posted.
- Repeat steps 1-3 when you are ready to send the next payment to AP as an open voucher if this is a multi-payment award (if applicable).
- Payments may not exceed the total amount of the scholarship. If a payment needs to be increased, it must be deleted entirely and a new payment line needs to be created with the increased amount.
- Once all checks have been paid and scholarship letters processed, navigate to the Scholarship Recipient record.
- Click Close in the left-side menu.
- Consider leaving all scholarships open until there is no chance of a student transferring/leaving the program or the school/grantee refunding the money.
Once the payment has been started, the school/grantee cannot be changed for any scholarship award. The associated grant/scholarship voucher will have to be unposted and deleted. Paying creates a grant to the school/grantee on that installment. The grant has to be deleted to update the school/grantee for that installment. Depending on when the voucher is created, it could require you to open the books and will make the Grants Payable/Scholarship Payable off temporarily. It is required to have the school listed on all of the payment lines for the Grantee/Payee fields. If this is coming from SLM and you are using integrated payee fields, the school has to be listed on each of the follow-up forms. Reach out to Support if you have questions.