In Customer Management, the Account > Installment Plans menu option on the Customer form displays a form for tracking retail installment plans on the account.
Users can choose whether to show or hide inactive (disconnected) installment plans in this view.
Context menu Options
From this view, users can select an installment plan and choose to:
Display the receipt from the sale
View order information
Pay In Full – this takes you to the Tender Bill Payment form with the selected installment plan auto-populated - See Pay in Full.
Initiate an exchange (for authorized users) - See Exchanging Plans.
Columns
For each plan listed, the following information is provided:
Retail product’s SKU and Description
Remaining balance
Number of installments yet to be invoiced
Estimated installment amount
Final installment date
Down payment amount (if applicable)
Whether or not the first payment was collected at the time of sale
Billing Installments - Total number of installments to be invoiced after the sale
The total installment amount due after the sale
Service Number (if the plan is associated to a service)
Sale date and receipt
Invoicing
The first installment will be invoiced in the current bill period unless it is collected at the time of sale. In this case the first invoiced installment is pushed out to the next bill period. On the Installment Detail view it will have the date that the second installment would have had, if the first installment were not paid at the time of sale.
Handling Extra Payments or Non-Payments
Extra (over) payments are not directly applied to the installment plan, but rather are applied as credits to the subscriber’s account and reduce the total amount due on the next invoice accordingly.
If a customer fails to pay the installment amount due on an invoice, that amount is carried over and added to the total amount due on the next invoice.
Returning a Product With an Installment Plan
Returns observe the Location’s Register Policy configuration for the Refund Days Limit.
If a product is returned within the configured Refund Days Limit, the customer receives a credit for any down payment, invoiced installment payments and sales tax collected, and the billing product is disconnected.
If the return is voided or canceled, the previous credit is reversed, and the billing product is reconnected.
Waiving Remaining Balance Due on Upgrades
Users can excuse customers from having to pay the remaining balance due on a Pay-in-Full transaction (for example, as an incentive to upgrade). This requires customers to set up a special tender type that offsets the remaining balance due without having to actually tender a payment.
Ending Service Before the Installment Plan is Fully Paid
If a customer terminates service prior to fully paying off an installment plan, the system will calculate the remaining balance and put that balance as a line item on the next invoice.