Guidelines for Updating Installments on Transactions

Use the Review Installments window in the Review Transaction page to update the installments on a transaction.

You can perform these updates on installments:

• Update the due date of an installment.

• Update the unpaid portion of an installment.

• Add or delete installments.

Note: You can't update installments on transactions with balance forward billing payment terms.

Set Up for Installment Updates

To set up for installment updates, perform these two tasks:

• Set the AR: Update Due Date profile option to Yes in the Manage Receivables Profile Options page.

  Setting this profile option to Yes exposes editable fields in the Due Date and Original Amount columns in the Review Installments window.

• Enable the Allow change to printed transactions option for the applicable business units in the Transactions section of the Billing and Revenue tab in the Create or Edit Receivables System Options page.

  While not required, best practice is to enable this option if you want to allow updates to installments after transactions are printed and delivered to customers for review.

Update the Due Date of Installments

Use the applicable Due Date fields to update the due date of one or more installments with an open balance.

When you update an installment due date, this recalculates the days late and due days for the installment based on the new due date.

Update the Unpaid Portion of an Installment

Use the applicable Original Amount fields to update any installment with an open balance. If an installment has either a credit or adjustment against it, you can update the remaining balance after the credit or adjustment is applied.

The amount you update on any installment must be greater than the amount already applied to the installment. For example, if the original installment amount is $50 and the customer paid $20, you can update the row amount by $20 or greater.

If you adjust the installment amount downwards, the adjustment can't be greater than the unpaid portion of the installment.

Add and Delete Installments

You can add or delete installments to reflect all the changes that you need to make to the installments on a transaction.

To add an installment:

1. In the Review Installments window, click the plus (+) icon.

2. The new installment appears with the sequence number incremented.

3. Enter the due date and original amount for the new installment.

To delete an installment:

1. In the Review Installments window, select the installment that you want.

2. Click the delete (x) icon to delete the installment.

3. The sequence numbers of the other installments are reset after you click the Save and Close button.

Note: You can delete any installment that doesn't have a payment against it. You can't delete the first installment, or installments that are paid, credited, adjusted, or in dispute.

The total of all installment amounts after any updates must equal the transaction entered amount. Any late charges or penalties are recalculated after any installment updates.