How to Read Your Ledger

How to Read Your Ledger
Once you have registered for classes,
you will have a ledger balance. Click
on “My Ledger” to view your ledger
balance.
Your ledger will reflect your tuition
for the courses in which you are
enrolled, as well as applicable fees.
To view Pending Financial Aid or
Pending Housing Charges, click on
the appropriate link to view the
pending amount.
Clicking on “Show Pending
Financial Aid”, will give you a
break-down of your aid. This will
give you the “type” of loan, as well
as the amount.
NOTE: Follow this same process to
view Housing Charges.
When you are done looking at your
pending aid, click “Hide Pending
Financial Aid.”
A total of your pending aid and/or
housing charges will also be
summarized here.
The “Overall Balance” would be
the amount you owe, unless it
appears in parentheses (). Then
this would be the amount due you
from the College.
You can pay your balance by
clicking “Pay by Credit Card” or pay
via check or cash.
If paying via credit card in CAMS,
please remember to adjust your
tuition amount, as it automatically
reflects the entire tuition amount.
(It will not reflect anything with a
“pending” status.)
Definitions:
Term: the semester that you are reviewing (examples: SU-13, FA-13, or SP14)
SU = Summer
Date:
SP = Spring
FA = Fall
the date of each transaction listed in your ledger
Description:
the description of each charge/payment in your ledger
Debits: the charges for each item added to your ledger
Credits: the payments made on your ledger
Balance:
the cumulative or “running total” on your ledger. If the balance appears in (), you have
a “credit balance” and this amount may ultimately be what is owed to you.
Previous Balance:
any balance carried forward from a previous semester
Current Balance:
total debits and credits showing in your Billing Ledger
Pending Financial Aid: amount of loans/scholarships/grants applied for but not yet received
Pending Housing Charges:
total debits and credits showing in your Housing (if applicable)
Overall Balance:
Previous Balance plus Current Balance minus Pending Financial Aid, plus
Pending Housing Charges. THIS IS THE AMOUNT YOU OWE TO MC. If this
amount is in parenthesis’, this means that the College owes you.
PRE-Bill/Ledger:
If under this section it reads “PRE-Bill”, this means that you are registered for
the given class/semester, but you have NOT been made an “official” student.
If this section reads “LEDGER”, this means that you are currently an “official”
student and these are your charges for the course in any given semester.
FAQ:
1. How much do I owe?
The amount listed under “Overall Balance”.
2. Is this always the amount I will owe?
Not necessarily. If you do not have a previous balance, the “Overall Balance” is what you would
owe for that semester. If you have a previous balance, you would take the “Overall Balance”
less the “Previous Balance” will be what you owe for that semester. This would give the amount
you owe or the amount that you would receive in a refund.
3. If the amount listed under “Overall Balance” is in parenthesis’ (), is that the amount that I owe
MC?
No. If the amount listed under “Overall Balance” is in parenthesis’ (), this is the amount that MC
owes you once “pending” funds have been received.