Manage Academic Business Unit

An academic business unit is a financial entity that you map to an Oracle Fusion Cloud Financials business unit. The academic business unit contains the underlying financial settings that support the institution's financial transactions. These settings include selecting a payment method, refund method, or allowing discounts.

Oracle Fusion Cloud Student Management integrates with Financials to carry out processes like accounts payable and receivables. So when you set up an academic business unit, you map it to a Financials business unit. This association lets you keep track of financial transactions and, in the future, will let you administer various rules to match the unique needs of your organizations, campuses, and students.

To manage academic business units, you must have an implementer or administrator role.

As an implementor, in the Setup and Maintenance work area, use the Manage Student Financials Options task:

• Offering: Student Management

• Functional Area: Student Structures

As an administrator, from Student Central search for Academic Business Unit.

Currently, you won’t be able to create more than one academic business unit. If you have existing setup, this will be converted to use the new structure.

From the landing page, if you already created your business unit, click its name to edit the settings associated with it.

Details

From this page, you can set the transaction numbering scheme, enable discounts at the academic business unit level, and map student financial transactions to accounts receivable values.

Here are some fields to note. The information you provide in the Accounts Receivables Values section is used to create customer accounts.

• The Auto Numbering scheme you select dictates how transactions and receipts are numbered and whether you can use your own prefix.

  We recommend selecting Student Financials so that you can define your own prefix. The prefix helps you identify transactions that originate from Student Management. This keeps transactions easier to distinguish from those of Oracle Fusion Cloud Receivables.

  Once you set the auto numbering scheme and prefix, don't change the values. Doing so may impact your reports and other financial components.

• Select Allow Discount to to enable discounts on tuition and fees at the business unit level. To administer discounts, go to the Manage Discounts page.
• In Customer Profile Class, select ORA_HED_BFB. This is a seeded profile that includes the necessary settings to create customer accounts and enable balance forward billing.
• Payment Term is automatically populated with the value that's set up in the profile class you selected.
• In Customer Class, select a value that matches your organization's requirement. The value you select places users in that group. Think of customer class as a grouping of people.

Transaction Source

In Transaction Source, you can map a fee type to a transaction source. When you create student fees, the mapping on this page is used to determine which transaction source maps to a fee type and vice versa.

The Default column refers to the default transaction source. You set up transaction sources in Financials, which you would have already done prior to setting up your academic business unit. See Manage Transaction Sources.

Payments

Payment methods define the ways students can pay for courses or for items associated with these courses. You can choose to enable one or all payment methods.

You need to select a receipt method for each payment method so you can process the payment and issue receipts. Receipt methods are defined in Financials. See Manage Receipt Classes and Methods.

For electronic payments, choose either one of these options:

• Oracle payment solution indicates that you want to use Financials as your payment service provider. Make sure you set up Financials appropriately. See Overview of Financials Implementation for Student Management.
• Other payment service provider indicates that you want to use your preferred payment service provider. To use this, you need to integrate your payment service provider with Student Management. See Integrate a Third-Party Payment Service Provider.

In Payment Error Resolution, it's important that you designate a person who's in charge of resolving payment issues. This person will receive email notifications about transactions where invoices or receipts couldn't be created. If these items can't be created, then they aren't recorded in students' accounts. Sending a notification about these issues informs the designated person that they need to take steps to correct the issue.

Refunds

Refund methods define the ways in which you can refund students or organizations. The methods you set up are what's available to you whether you manually issue refunds for individuals or multiple recipients.

For each method you create, you can also enable Allow Refunds with Debit Balance. Enable this if you want to put an account in a debit balance—the account will have outstanding charges after the refund payment is made. The refunding process will refund the unapplied amount of the receipt for accounts that have both unpaid charges and unapplied receipts.