How to add Pricing types and Level pricing

How to add pricing types and level pricing

First-class software has 3 core types of pricing logic.

Per lesson pricing

Per class/lesson: The amount a customer is charged is calculated by the number of classes/lessons in a given period.

For example, in a term there may be 10 weeks and one holiday so the student will receive lessons in that term. The per class pricing will multiple the per class amount by the number of lessons (9 in the example above)

9 lessons for the term x 25.5 per lesson= $229.5

In this case, the customer will be invoiced $229.5 for the term

It is important to note that per class pricing is supported in both term based (invoiced generated for the entire term) and perpetual class (invoice generated monthly) billing.

In the case of perpetual billing, the system will calculate the number of classes for the month as opposed to the term.

Eg. There are 4 Wednesdays in March, the customer has a Wednesday lesson so will be charged 4 x the per class amount.

Pro rating- Per class pricing in First Class supports pro rating for both term based program (number of classes remaining in the term will be charged based on start date of enrolment) and perpetual. (The number of lessons remaining in the billing period (month) will be charged)

Per term pricing

Per term: There is a fixed amount for a period of classes. Eg. 2 weeks x 3 classes per week = $120 or it may be a fixed amount for an 11-week term such as $320.00.

We recommend per term pricing is used for term based programs only. It is not designed to work with perpetual billing. 

This method is ideal for fixed price classes such as holiday programs or camps.

This method also pro rates.

For example, if your per term pricing is $300 for the term, and there are 10 weeks in the term. If the customer joins with 3 weeks remaining the system will divide the per term amount by the number of weeks (eg, 300/10) and then multiply the number of weeks remaining by the calculated fee. eg. $30 x 3= $90

Per month pricing

Per month: This is a fixed amount each month. For example, it may be 80 dollars per month. 

This method is more suited to perpetual system billing however it can be used in both billing methods (perpetual and term based)

For perpetual billing, per month pricing supports pro rating. For example, if pricing is 120 per month and there are 4 weeks in the month, if the customer joins half way into the month, the system will adjust the fee to represent 2 weeks. (The system will see 120 by 4 weeks in the month and represent the weekly amount as $30)

The per month price logic for term based programs will count the number of months selected in the term. This does not support pro rating. 

How to set up your pricing in First Class

To set up a pricing type or level pricing, go to the Settings menu, then under the Manage Payments tab, select pricing type or level pricing.

Adding Pricing Types

To add a pricing type,  click  “Add New Pricing Type”.   

Enter the name of the pricing type you wish to create - Eg. Per Term, Per Month, or Per Class

Underpricing type, choose the same name.  Once done,  click on the check icon button to save.

If you wish to edit or delete any pricing type, you may click the Edit (Pencil icon) or delete button (Trash can icon). 

Adding Level Pricing

To add a level price,  click  “Add New Level Pricing”.  

Select from the drop-down the level, then choose the price type.  

Example: Per Class, Per Month, or Per Term. 

Enter the amount and click on the check icon button to save.

If you wish to edit or delete any Price Type,  you may click the Edit (Pencil icon) or delete button (Trash can icon).