Current DueReceivables > Installment Receivables> Manage and Adjust Installment Contracts > Defer Installment Payments button
Receivables > Installment Receivables > Manage and Adjust Installment Contracts > Review Contract Details button > Defer Installment Payments button
Use this routine to extend installment payments due. This program will calculate and post the deferment fees and extend all payments due, including current payments and future payments due.
Current DueThe current amount due displays here.
Past DueThe amounts past due for the customer display here and are broken into the appropriate aging buckets.
Reference - The reference number associated with the deferment displays here.
Due Date - The original due date for the deferred payment displays here.
$ Original Due - The original payment amount of the due date displays here.
$ Open Due - The open payment amount based on the due date in that row displays here.
Memo Reference - The reference number for the original payment due before the deferment displays here.
As rows in the grid are checked/unchecked, the Deferred Payment and Deferment Fee will calculate and display. The aging buckets in the Past Due section of the screen will recalculate and update to reflect the rows that are selected.
Deferred PaymentsThe sum of the $ Open Due column of the grid for the rows that are checked displays here. This is a display-only field.
Deferment FeeThe deferment fee displays here and is calculated using the table that is defined in the Installment Receivables Control Settings using the Deferred Payments amount. This field is display-only unless staff security settings permit a user to override the deferment fee.
Apply to ContractSelect the contract from the drop-down box to specify the contract that the deferment fee will be applied to. If only one contract is being deferred, this field will be set to that contract and the field will be deactivated. When multiple contracts are being deferred, the field will be set to the contract with the highest outstanding balance. The drop-down box will be active and populated with each contract being deferred.
CommentsClicking the actions button at this field brings up the Text Entry Screen where you can enter comments pertaining to the contract.
Comments are required when deferring a payment.
G/L Account Maintenance - Selecting this takes you to the G/L Distribution screen where you can maintain G/L accounts for installment contracts.