Creating Payment Plans

PeopleSoft Receivables enables you to create payment plans for item balances. Using this feature you can define a payment plan and plan type, select items to include in the plan, and create installments.

Several Receivables pages include a payment plan (PLAN ID) column, such as Collections Workbench, Receivables Worksheets,Credit Card Worksheets, and Delinquent Accounts. The column provides a payment plan ID for each item. The ID is a link that you can use to access the corresponding payment plan (Payment Plan Page) for the item.

Payment plan installment items can be included in statements, dunning, and overdue charges by selecting the Correspondence options for the PPI entry type on the PeopleSoft Receivables: Entry Type Page.

In addition, you can use the Payment Plan Report to view payment plan information for a customer. The report provides a detailed view of items included in a payment plan and installments.

See Payment Plan Report Page

Setting Up Payment Plans

To set up and create a payment plan:

1. Specify payment plan defaults for a business unit using the PeopleSoft Receivables: Receivables Options - Payment Options Page. Example of payment plan defaults are Maximum Installments and Default Plan Type.

   You also have the option of using the General Information - Bill To Options Page to specify plan defaults.

2. Initiate a payment plan for a customer using the Create a Payment Plan item action on the PeopleSoft Receivables: Item List Page.

3. Define payment plan and generate installments using the Payment Plan Page.

Note:

Drafts, Direct Debits, Selecting source items across business units, Selecting source items with multiple currencies, Cancelling a plan, Discounts, and Payment Plans for VAT and India Business Units do not support Payment Plan.