Add New MMP
Access
Use this routine to add a new monthly payment to the customer's revolving plan. This adds payments due to open item receivables and impacts the short term revolving balance due for a revolving plan. The new MMP (Minimum Monthly Payment) can consist of a principal amount, finance charges, a finance charge fee, and/or an insurance charge.
CustomerThe customer code, name, and address display.
PlanThe code of the revolving plan being adjusted displays from the previous screen.
ActivatedThe date the plan was activated for this customer displays.
Balance $The customer's revolving balance for this plan displays.
Current Due $The amount currently due from the customer for this plan displays.
New MMP Details
Principal $Enter the principal amount for the new payment. The amount you enter cannot be negative and cannot exceed the total amount due for the revolving plan.
Finance Charge $To add a finance charge to this new monthly payment, enter the finance charge amount here. The amount you enter cannot be negative and cannot exceed the total amount due for the revolving plan.
Finance Charge Fee $If the customer's state is set up to assess a finance charge fee via the Revolving tab of Sales Tax Settings, this field is active. To add a finance charge fee to the new MMP, enter the amount of the fee here. The amount you enter cannot be less than zero or exceed the plan balance.
Insurance $To add an insurance charge to this new monthly payment, enter the insurance charge here. The amount you enter cannot be negative and cannot exceed the total amount due for the revolving plan.
Due DateIndicate the due date for the new payment. To select a date from the calendar, click the calendar icon.
ReasonUse this mandatory field to indicate the reason for the adjustment. Click the Arrow button and select the reason from the drop-down list. Only reason codes with the Reason Usage Code field set to Revolving Adjustments appear in the list.
