Merchandise Segmentation - Installment Billing
If your organization allows customers to purchase merchandise using an installment plan, you must create a contract type for this.
Note:
No installments. If the customer must pay for the
merchandise in one lump amount, you'd create an contract type.
| Division/Contract Type | Service Type | Distrib. Code | Debt Class | Bill Seg Type | Recurring Charge Control Info |
|---|---|---|---|---|---|
| CA/MERCH-I | Merch | A/R-MRCH | UNRE | RECUR-AS |
Amount to bill is Not Allowed Amount is Required Frequency is Monthly Recurring Amount Label is Install Amount |
Notice the following about the new merchandise contract type:
- It has a normal receivable distribution code.
- It uses an interesting bill segment type - RECUR-AS. This bill segment type was set up to create recurring charges that stop when the customer no longer has a payoff balance.
- The recurring charge control information is set up as defined.
Fastpath: Refer to the Description of Page under Contract Type
- Billing
for the definition of the recurring charge
attributes.