In MyKidReports, a credit balance occurs when a family or payer has paid more than the amount due on their account. This overpayment can be applied as a credit towards future invoices or charges.
Benefits of Credit Balances in MyKidReports:
Financial Flexibility: Parents can pay in advance, and the extra amount is stored as credit for future payments.
Automatic Application: The system automatically applies credits to future invoices, reducing the manual workload for administrators.
Transparency: Parents and schools can see credit balances clearly in the account, making financial tracking transparent.
Credit Balance on the Web
Here’s a step-by-step guide for parents on how to make payments using MyKidReports:
Step 1: Log in to the MyKidReports account using the provided credentials.
Step 2: Click on the 'MAKE PAYMENT' button to start the payment process.
Step 3: A pop-up window will appear on the left side. If you enter a 'Payment Amount' more than 'Balance due' then you have a remaining 'Credit Balance'. Enter the required payment details (credit card or bank account information). Make sure to check the box labeled 'Save this account on file for future automatic payments.' Click on the 'PAY' button to confirm the payment.
Credit Balance on the App
Step 1: Log in to your account.
Step 2: Click on the 'MAKE PAYMENT' button.
 | Step 3: If you enter a 'Payment Amount' more than 'Balance due' then you have a remaining 'Credit Balance'. Enter the required payment details (credit card or bank account information). Make sure to check the box labeled 'Save this account on file for future automatic payments.' Click on the 'PAY' button to confirm the payment.
 |
Applying Credits to Future Invoices:
MyKidReports automatically applies credit balances to future invoices. When the next invoice is generated, the credit will be deducted from the total amount due.
Schools can also manually apply the credit to an invoice if needed.