Understanding the Installment Bills Process

You can use installment billing to invoice your customers in segments, with the total amount due divided equally, by percentage, or according to the configured definition. Each installment invoice includes the installment number, the total number of installments, the installment amount due, and the total invoice amount. You can also include a flat rate or percentage service charge. Taxes are applied to each installment amount at the time of billing.

Create a template for installment bills using a new bill or an existing bill. You control the schedule that controls when the system generates installment invoices. The system copies all non-amount information, such as customer, distribution of revenue, accounts receivable, and discounts and surcharges, from the template invoice to the installment billing invoices.

When you select an invoice format, you control whether or not the system displays a breakdown of the installment billing invoice amounts on the invoice. Online inquiry enables you to inquire about current and previous installment billing invoices.

PeopleSoft Billing supports three ways to define the default installment billing plan: at the business unit, bill type, or bill source level. You can create plans based on equal installments, percentage installments, or custom installments.