Field Description - Customer Payment Plan Amount

The Customer Payment Plan Amount contains the amount of the individual payments to be paid by the due date for the customer's payment plan.  You can manually maintain the payment plan amounts or have the system automatically calculate the payment plan amounts if you maintain the Terms and the Total Payment Plan Amount.

Note:  Term and Plan Payment Amount work together to determine how the system will handle the payments.

• If Term 0 / Plan Payment $ 0 - Then enter payments manually.

• If Term 5 / Plan Payment $ 25.00 - The system will apply the number of payments that was entered as the term, for the amount that was entered as the plan, for example 5 payments of 25.00 each.

• If Term 0 / Plan Payment $ 25.00 - The system will calculate the number of payments needed to pay the amount in Total Plan Payment which defaults to the balance owed.

• If Term 0 / Plan $ 25.00 / Total Plan Payment more than balance owed - The system will calculate the total number of payments to pay the amount in the total plan payment.

Where-Maintained:  Customer Create Payment Plan Wizard

Where-Used:  Cash Receipts routines, Payment Plan Report, and Customer Payment Plan Panel of Customer Inquiry, or Payments View of Enhanced Inquiry

Format:  12.2 numeric