The following are two common methods of calculating a schedule of payments:
Taxpayer knows how much and when they can pay. The recommendation rule will calculate the schedule of payment dates given the fixed payment amount, frequency, and the first payment date. For example: monthly payments of $1,000 beginning on August 1, 2007.
Taxpayer knows when they would like to pay the debt by, and how often they can pay. The recommendation rule will calculate the schedule of payment dates and payment amounts given the first payment date, the last payment date and the frequency. For example: monthly payments to be made starting on August 1, 2007 and ending on February 1, 2008.
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