In MyKidReports, "Failed Payments" refers to payment transactions that were attempted but could not be successfully completed. These payments have been rejected by the payment processor or the bank for various reasons, which can include insufficient funds, incorrect payment details, or issues with the payer’s bank account or credit card.
When a payment is marked as "Failed," it means the payment process did not go through, and the school has not received the funds. This requires attention from both the payer and the school to resolve the issue and ensure that the payment is made.
Why Understanding Failed Payments is Important:
Follow-Up Action: Schools need to be aware of failed payments to follow up with the parents or payers and resolve the issues.
Avoid Discrepancies: Monitoring failed payments ensures that there are no discrepancies between expected and received payments, helping to maintain accurate financial records.
Payer Communication: Failed payments often require communication with the payer to identify the problem and attempt the payment again.
Managing Accounts: Schools can keep track of which invoices remain unpaid due to failed transactions and take steps to collect the outstanding amounts.
View the Failed Payments Status on the Web
Step 1: Log in to your account.
Step 2: Go to 'Billing' > Click on the 'Payments' tab.
Step 3: Go to the 'Failed Payments' tab. Here you can view the 'Failed Payments' status of all students who paid but payment is declined for any issue.
View the Failed Payments Status on the App
Step 1: Log in to your account.
Step 2: Click on the
 | Step 3: Go to 'Billing' > Click on the 'Payments' tab.
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iconStep 4: Go to the 'Failed Payments' tab. Here you can view the 'Failed Payments' status of all students who paid but payment is declined for any issue.
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Reason of Failed Payments:
Transaction Unsuccessful: The payment was initiated but did not complete due to an issue that prevented the funds from being transferred.
Payer Notification: In many cases, both the payer and the school may receive notifications that a payment has failed, with instructions on how to proceed.
Possible Causes: Payment failures can occur for reasons such as:
Insufficient funds in the payer’s bank account.
Incorrect or expired credit card information.
Issues with the payer’s bank, such as a declined transaction.
Technical issues with the payment gateway.
No Funds Received: Since the transaction did not succeed, the school will not receive the payment until the issue is resolved, and a new payment is processed.