How to convert regular fee type to service based / Pro rata fee type

How to convert regular fee type to service based / Pro rata fee type

Follow the below path to convert the existing regular based fee type to pro rata fee type

Settings --> Finance --> Create Fee Types --> Monthly Based Fees --> +Convert Existing Fee Type

Service based: Fee will be applicable depending on the date of admission and fee will be assigned based on the installment
Pro Rata: Fee will be applicable depending on the date of admission and the fee will be divided into monthly basis
Example: Fee for Class 1 is 20000 with 2 Installment.
Installment 1 (10000) (June To October)
Installment 2 (10000) (November to March)

In service based fee type, if the student admitted in the month of December, installment 2 (10000) fee will be applicable
In pro rata based fee type, if the student admitted in the month of December, only 8000 fee will be applicable.

Note: in both the types (Service based/Pro Rata) accountant will get an option to select the installments.

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