Difference between revisions of "Products/Purchases/Instalment Plans"
From Emersion
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| − | ==To Create an | + | ==To Create an Instalment Plan== |
| − | [[File:installment.jpg|500px|thumb||The '' | + | [[File:installment.jpg|500px|thumb||The ''instalment Plan'' page]] |
| − | # From the ''Purchase Type'' page, select the '' | + | # From the ''Purchase Type'' page, select the ''instalment Plan'' option. The'' Instalment Plan'' area will appear showing additional fields and information. |
# Select the required ''Product Category'' from the drop list. | # Select the required ''Product Category'' from the drop list. | ||
# Select the required ''Product'' from the drop list. The product price will display in the ''Base Price'' field. | # Select the required ''Product'' from the drop list. The product price will display in the ''Base Price'' field. | ||
# Tick the ''Use Product Ledger Code'' tick box to assign the sale to the product ledger code set up in the product details. | # Tick the ''Use Product Ledger Code'' tick box to assign the sale to the product ledger code set up in the product details. | ||
# If you wish to assign the sale to another ledger code, un-tick the ''Use Product Ledger Code'' check box. The ''Custom Ledger Code'' drop list will be enabled. Select the required ledger code from the drop list. | # If you wish to assign the sale to another ledger code, un-tick the ''Use Product Ledger Code'' check box. The ''Custom Ledger Code'' drop list will be enabled. Select the required ledger code from the drop list. | ||
| − | # In the '' | + | # In the ''Instalment Plan Configuration'' section, select the ''Instalment Offcycle Payment Handling'' method required in the drop list. This option controls how the system processes customer payments that are made outside of the regular billing cycle. |
#:The options include: | #:The options include: | ||
| − | #:* Auto Prorata - the payment amount is automatically pro-rated resulting in the | + | #:* Auto Prorata - the payment amount is automatically pro-rated resulting in the instalment payment amounts being reduced. |
| − | #:* Reduce Payments - the number of payments may be reduced but the | + | #:* Reduce Payments - the number of payments may be reduced but the instalment payment amount will remain the same. |
#:* No Off Cycle Payments - off cycle payments are not permitted. | #:* No Off Cycle Payments - off cycle payments are not permitted. | ||
#:* Off Cycle payment acts as credit off cycle - payments are treated as payment in advance and appear as a credit on the customer's account | #:* Off Cycle payment acts as credit off cycle - payments are treated as payment in advance and appear as a credit on the customer's account | ||
| − | # Select the ''Invoicing Method'' required for the first | + | # Select the ''Invoicing Method'' required for the first instalment from the drop list. |
#:The options include: | #:The options include: | ||
| − | #:* Create Invoice - a pending invoice will be created containing the first | + | #:* Create Invoice - a pending invoice will be created containing the first instalment once the instalment plan purchase is confirmed |
| − | #:* Next Invoice - a pending cardline will be created for the first | + | #:* Next Invoice - a pending cardline will be created for the first instalment to be processed at the next bill run |
# If the product has been provided to the customer: | # If the product has been provided to the customer: | ||
| − | ## Tick the ''Product supplied, payment to begin immediately'' check box. The ''Serial / Product Instance Code'', ''Product Instance Description'' and ''First | + | ## Tick the ''Product supplied, payment to begin immediately'' check box. The ''Serial / Product Instance Code'', ''Product Instance Description'' and ''First instalment Date'' fields will be enabled for entry |
## Enter the product's serial number or other unique ID (e.g. IMIE etc) in the ''Serial / Product Instance Code '' field. | ## Enter the product's serial number or other unique ID (e.g. IMIE etc) in the ''Serial / Product Instance Code '' field. | ||
## Enter the description in the ''Product Instance Description'' field. | ## Enter the description in the ''Product Instance Description'' field. | ||
| − | ## Enter the date the first | + | ## Enter the date the first instalment of the plan is due in the ''First Instalment Date'' field. A calendar tool will appear to allow you to select the required date. |
| − | #: Note : The | + | #: Note : The instalment plan processing will not commence until the product has been provided to the customer. You can use the ''View / Manage instalment Plan'' function to update the details after the instalment plan has been saved. |
| − | # Select a pricing method to apply to the product from the '' | + | # Select a pricing method to apply to the product from the ''Instalment Pricing Method'' option radio buttons. The system provides a variety of methods to calculate the final product total and instalment payment amounts based on a several attributes as follows: |
| − | #:* Specify markup percentage, total amount of | + | #:* Specify markup percentage, total amount of instalments, and the instalment period length |
| − | #:* Specify markup percentage, amount per | + | #:* Specify markup percentage, amount per instalment, and the instalment period length |
| − | #:* Specify total cost, total amount of | + | #:* Specify total cost, total amount of instalments, and the instalment period length |
| − | #:* Specify total cost, amount per | + | #:* Specify total cost, amount per instalment, and the instalment period length. |
| − | # Depending on the '' | + | # Depending on the ''instalment Pricing Method'' option selected, the system will enable or disable the ''instalment Details'' fields. The product ''Base Price'' will display showing the original base price, which cannot be modified. |
| − | #:*For the ''Specify markup percentage, total amount of | + | #:*For the ''Specify markup percentage, total amount of instalments, and the instalment period length ''and'' Specify markup percentage, amount per instalment'' ''and the instalment period length'' pricing methods, enter the markup percentage in the ''Markup'' field. For no markup, you can leave the value as zero (0). |
| − | #:*For the ''Specify markup percentage, total amount of | + | #:*For the ''Specify markup percentage, total amount of instalments, and the instalment period length ''and the ''Specify total cost, total amount of instalments, and the instalment period length'' pricing methods, enter the number of instalments for the plan in the ''Total instalments'' field. The system will automatically create the specified number of payment instalments on the subsequent customer's invoices until the instalment plan is complete. |
| − | #:*For the ''Specify markup percentage, amount per | + | #:*For the ''Specify markup percentage, amount per instalment'' ''and the instalment period length'' and the ''Specify total cost, amount per instalment, and the instalment period'' ''length'' pricing methods, enter the amount of each instalment payment in the ''Charge per instalment'' field. The system will automatically create the payment instalments of the entered amount on the subsequent customer's invoices. |
| − | #:*For the ''Specify total cost, total amount of | + | #:*For the ''Specify total cost, total amount of instalments, and the instalment period length ''and the ''Specify total cost, amount per instalment, and the instalment period'' ''length'' pricing methods, enter the total cost for the product including any additional fees or charges in the ''Final Cost for instalment Plan'' field. The system will use this figure to calculate each payment instalment amount. |
| − | # Select the frequency of the | + | # Select the frequency of the instalment payments from the ''instalment Period Length ''drop list. Options include 1, 3, 6, 9, 12, 18, 24 and 36 months. |
| − | # Click the '''Continue''' button. The ''Purchase'' page will display showing all details of the | + | # Click the '''Continue''' button. The ''Purchase'' page will display showing all details of the instalment plan entered. |
# Review the information to confirm it is correct. | # Review the information to confirm it is correct. | ||
| − | # Click the '''Create | + | # Click the '''Create instalment Purchase''' button. A message will display at the top of the screen showing "instalment Plan created". |
| − | # To return to the | + | # To return to the instalment Plan page to make changes, click the '''Modify''' button. |
| − | + | = See Also = | |
| − | * [[ | + | * [[Product/Product Purchases|Product Purchases]] |
| − | |||
* [[Products]] | * [[Products]] | ||
| − | |||
Revision as of 11:34, 22 June 2016
To Create an Instalment Plan
- From the Purchase Type page, select the instalment Plan option. The Instalment Plan area will appear showing additional fields and information.
- Select the required Product Category from the drop list.
- Select the required Product from the drop list. The product price will display in the Base Price field.
- Tick the Use Product Ledger Code tick box to assign the sale to the product ledger code set up in the product details.
- If you wish to assign the sale to another ledger code, un-tick the Use Product Ledger Code check box. The Custom Ledger Code drop list will be enabled. Select the required ledger code from the drop list.
- In the Instalment Plan Configuration section, select the Instalment Offcycle Payment Handling method required in the drop list. This option controls how the system processes customer payments that are made outside of the regular billing cycle.
- The options include:
- Auto Prorata - the payment amount is automatically pro-rated resulting in the instalment payment amounts being reduced.
- Reduce Payments - the number of payments may be reduced but the instalment payment amount will remain the same.
- No Off Cycle Payments - off cycle payments are not permitted.
- Off Cycle payment acts as credit off cycle - payments are treated as payment in advance and appear as a credit on the customer's account
- The options include:
- Select the Invoicing Method required for the first instalment from the drop list.
- The options include:
- Create Invoice - a pending invoice will be created containing the first instalment once the instalment plan purchase is confirmed
- Next Invoice - a pending cardline will be created for the first instalment to be processed at the next bill run
- The options include:
- If the product has been provided to the customer:
- Tick the Product supplied, payment to begin immediately check box. The Serial / Product Instance Code, Product Instance Description and First instalment Date fields will be enabled for entry
- Enter the product's serial number or other unique ID (e.g. IMIE etc) in the Serial / Product Instance Code field.
- Enter the description in the Product Instance Description field.
- Enter the date the first instalment of the plan is due in the First Instalment Date field. A calendar tool will appear to allow you to select the required date.
- Note : The instalment plan processing will not commence until the product has been provided to the customer. You can use the View / Manage instalment Plan function to update the details after the instalment plan has been saved.
- Select a pricing method to apply to the product from the Instalment Pricing Method option radio buttons. The system provides a variety of methods to calculate the final product total and instalment payment amounts based on a several attributes as follows:
- Specify markup percentage, total amount of instalments, and the instalment period length
- Specify markup percentage, amount per instalment, and the instalment period length
- Specify total cost, total amount of instalments, and the instalment period length
- Specify total cost, amount per instalment, and the instalment period length.
- Depending on the instalment Pricing Method option selected, the system will enable or disable the instalment Details fields. The product Base Price will display showing the original base price, which cannot be modified.
- For the Specify markup percentage, total amount of instalments, and the instalment period length and Specify markup percentage, amount per instalment and the instalment period length pricing methods, enter the markup percentage in the Markup field. For no markup, you can leave the value as zero (0).
- For the Specify markup percentage, total amount of instalments, and the instalment period length and the Specify total cost, total amount of instalments, and the instalment period length pricing methods, enter the number of instalments for the plan in the Total instalments field. The system will automatically create the specified number of payment instalments on the subsequent customer's invoices until the instalment plan is complete.
- For the Specify markup percentage, amount per instalment and the instalment period length and the Specify total cost, amount per instalment, and the instalment period length pricing methods, enter the amount of each instalment payment in the Charge per instalment field. The system will automatically create the payment instalments of the entered amount on the subsequent customer's invoices.
- For the Specify total cost, total amount of instalments, and the instalment period length and the Specify total cost, amount per instalment, and the instalment period length pricing methods, enter the total cost for the product including any additional fees or charges in the Final Cost for instalment Plan field. The system will use this figure to calculate each payment instalment amount.
- Select the frequency of the instalment payments from the instalment Period Length drop list. Options include 1, 3, 6, 9, 12, 18, 24 and 36 months.
- Click the Continue button. The Purchase page will display showing all details of the instalment plan entered.
- Review the information to confirm it is correct.
- Click the Create instalment Purchase button. A message will display at the top of the screen showing "instalment Plan created".
- To return to the instalment Plan page to make changes, click the Modify button.
