ContractReceivables > Installment Receivables > Manage and Adjust Installment Contracts > Update Contract Status button
Receivables > Installment Receivables > Manage and Adjust Installment Contracts > Review Contract Details > Update Contract Status button
Use this routine to cancel active contracts, delete pending contracts, or reinstate contracts.
ContractThe contract number displays here.
StatusTo cancel, delete, or reinstate a contract, click the Arrow button and choose the correct status from the drop-down list. Active contracts can only be cancelled, pending contracts can only be deleted, and contracts in history can only be reinstated if they have not been paid off.
Select Cancel from the status drop-down to access the Installment Receivables Payoff As-of Date screen.
In order to utilize this field, an entry in the Status field is mandatory. Click the Search button to access the Reason Code screen, double-click to select the reason code.
Additional information regarding the reason codes for installment can be found in the Account Status field in Reason Code Settings.
CommentsClick the Action button at this field to access the Text Entry Screen where you can enter comments pertaining to the status of the contract.
Comments are required when making changes to the status of an account.
G/L Account Maintenance - Select this option from the Actions menu to access the G/L Distribution screen, where you can maintain G/L accounts for installment contracts.