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
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