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Example of Scheduling Fixed Amount and Fixed Pay Date

This topic shows an example of how a recurring payment processes for a fixed amount scheduled on a fixed pay date. You could use this feature differently, depending on your business model.

Example of How to Schedule a Fixed Amount with a Fixed Pay Date

The following steps describe an example of how to schedule a fixed amount with a fixed pay date:

1. On 04/09/2012, a customer with account number acct1111 creates a recurring payment. The amount is $50 and the pay date is day 1 of each month. The recurring payment starts at 04/10/2012 and ends at 06/10/2012. The columns in the recurring_payments table are updated as follows.

   Column Name	Value
   payer_account_number	acct1111
   bill_scheduled	N
   status	active
   last_process_time	04/10/2012
   last_pay_date	01/01/1970
   next_pay_date	05/01/2012
   bill_id	Null
   end_date	06/10/2012
   curr_num_payments	0. No payments have been made yet.

2. On 04/28/2012, three days before next_pay_date, pmtRecurringPayment runs again. There is no synchronization (bill_scheduled is always N) but a payment is inserted into the EDX_PMT_TRANSACTION table. The amount of the check is $50.00 and its pay date is 05/01/2012. The columns in the recurring_payments table are updated as shown in the following table.

   Column Name	Value
   payer_account_number	acct1111
   bill_scheduled	N. This bill has been paid.
   status	Active, next_pay_date is not after end_date.
   last_process_time	04/10/2012. This value is unchanged because there was no synchronization.
   last_pay_date	05/01/2012. This value changed to next_pay_date.
   next_pay_date	06/01/2012. This value changed to the next available pay date.
   bill_id	Null
   payment_id	Points to the new payment_id inserted into the EDX_PMT_TRANSACTION table.
   curr_num_payments	1

   Repeat Step 2 until next_pay_date is after end_date. Then the status changes to Inactive.