Instalment Plans

Summary:

Amount based Instalment Plans

Content (required):

Instalments how it works in Oracle is as follows : 

Steps : Accounts Receivables > Billing > Create Transaction > Enter header details, with payment terms Complete and Review. Instalments are created based on the payment term.

Example

Customer has a total due of £738.42 which the customer agrees to Pay by the following Frequency : Monthly

No. of Instalments : 8

-Payment Term 8 monthly if it is assigned at the Invoice, Instalments would then automatically be created for 8 equal instalments of £92.30 each.

However Client requirement is that Instead of the Payment Term, the instalment amount is agreed with the customer

Example