Payment Details

The following diagram illustrates the relationship between an account and its payments:

The following concepts are illustrated above:

Payments are made for accounts Over time, many payments may be applied to an account's debt. The above illustration shows a single payment.

Payments contain payment segments A payment contains one payment segment for every service agreement to which the payment is distributed. For a customer who pays in full, the number of payment segments will coincide with the number of bill segments on the bill being paid.

A pay. segment has a financial transaction A payment segment has a related financial transaction. A financial transaction contains the financial effects of the segment on the service agreement's current and payoff balances and on the general ledger.

Canceling a payment cancels the fin. tran. If the payment is eventually cancelled, another financial transaction will be linked to the related payment segment(s) to reverse their financial effect. The cancellation financial transaction appears on the next bill produced for the account as a negative payment.