Plan Deferment

Use this routine to select revolving payments due to defer or the customer selected in the previous screen. The grid displays revolving payments for all plans, except payments for plans that do not allow deferments. Deferment activity is recorded in the Customer Activity Log.

When the deferment occurs, each revolving payment being deferred moves from short term to long term. Included in this payment are principal, interest, insurance, and finance fees. Payments or credits applied to a deferred payment due reduce the amount deferred by that payment/credit amount. The general ledger is updated with one batch for each session run, which includes all payments deferred in that session.

Click Save to process the revolving plan deferment. Once deferment is complete, you are returned to the Adjust Revolving Plans screen, which will have been updated to reflect any changes that occurred from deferring the balance.

This display-only field shows the total of all revolving payments due for the plan displayed in the grid whose due date is equal to or greater than the current date. Plans that do not allow deferment are not included in this total.

The display-only past due amounts are shown based on how late the payment is compared to the current date. Amounts are displayed in the appropriate ageing category: 1-30, 31-60, 61-90, 91-120, or 120 +. Plans that do not allow deferment are not included in these totals.

The amount selected in the grid to be deferred displays here. This field is updated as items in the grid are selected and de-selected.

Use this drop down menu to select the plan to which master plan deferments are to be posted. The customer's current open plans that are not in dispute are available for selection. The default prompt is a plan without promotional terms that has a balance; if the only plan with a balance has promotional terms, that is the default plan. This field is available if the account is using master plans and a plan is selected in the grid. If only one plan was selected in the previous Adjust Revolving Plans screen, this field is unavailable.

Click the extra action button to enter comments about the deferred payments in the Text Entry Screen window that appears. When comments exist, an ellipses is displayed next to the Actions button; when comments are deleted or do not exist, ellipses are not displayed. Comments can be updated here until the deferments are completed. Comments are posted to the Customer Activity Log upon saving the deferment.

This grid displays the customer's open revolving payments due, both past and current. Use the check box in the grid row to select or de-select that item or use the check box in the header row to select or de-select all grid items. When an item(s) is checked, that revolving payment(s) will be deferred. As items are checked, the Deferred Payments $ field updates with the deferred payment amount.

Reference - This is the reference number for open revolving payments due for the plan.
Due Date - The date that the payment is due.
$ Original Due - The original amount of the payment due.
$ Open Due - The remaining amount of the payment due.
Memo Reference - This is the memo reference of the payment due, which is equivalent to the revolving plan.