Accounts: Payment - Recurring
Used to assist in posting payments for those deals with one (or more) automatic payments per month.
Layout / How To
If the deal is on an automatic payment schedule, you may wish to indicate this to ALMSys. One to four recurring payments per month or a special payment schedule may be specified. To make recurring payments active, select Yes in the Screen Active box.
Payments are gathered for posting by Day or by the recurring schedule you select.
There are special quick fill buttons that are designed to speed up your input by giving you the payment, 1/2 payment, 1/3 payment, and 1/4 payment options.
The "If using EFT, check the box and choose the account" fields are only used when you are having ALMSys request payments from your bank or to charge the customer's credit card. (You must have an active EFT set up on the Accounts - EFT Setup screen.) The "Recurring EFT Ready?" column will indicate whether or not all of the fields necessary for a successful EFT inclusion are filled in. It does not check account number accuracy; it merely shows that the right fields have been populated.
All payment cycles are supported, be it monthly, week, bi-weekly, etc. For monthly and semi-monthly deals, fill in the Day and Amount columns, and set the Other Payment Recurring Cycle to "None".
Hard Start and End Dates will not allow any recurring payments before the start date and after the end date. These fields are not required and are only used to override the schedule selected.
For other recurring cycles:
Select the payment cycle type
Provide the starting date for the first payment in that cycle
Fill in the Amount column on up to four lines
For example, if you wish to set up a bi-weekly payment, but you want one payment to be $100.00, and the next payment to be $99.99, then you will fill in $100 in the first amount field, and $99.99 in the second amount field. ALMSys will use $100 first, then $99.99 next, and then back to $100 for the third time, etc.
(Using other payment cycles will turn the associated fields fuchsia.)
(Other payment cycles do not use the Day fields.)
Credit Card Charging Notes
If you are using a credit card charging interface, AND you have negotiated charging a flat convenience fee with the credit card company, then you may use the Charge CC FEE? field to include this fee or not on this deal only.