An Instalment Contract can be created via Sales Order Entry or via the Instalment Contract Maintenance. In sales order entry, the Source of order and Payment term codes with the following values indicate that an instalment contract is required.

• Source of order = Cash Sale
• Payment terms code = IN for instalments

Once the order is processed, the payment type of IC (instalment charge) should be selected in the Payment with Order entry screen.

Instalment charge statuses

The status of each instalment displayed in the maintenance screen is dependent on the settings in the system. For example, you can have an instalment go from the status 0 to 3. This is mainly done when a complete automated solution is setup and no validation of payments is required. You can also have the status of each instalment go from 0 to 1 to allow checking and validation before it is then changed to 2 to 3 when the auto payment option is selected.

The following charge statuses are used.

• 0 Awaiting Payment
• 1 & 2 Awaiting Validation Pending (is non approved)
• 3 Approved and payments posted to Debtors
• 8 Rejected (when payment has been rejected)
• 9  AR not updated

Note: The Reject pay Option changes the status field from Charged to Rejected. Reject payment option is not allowed if an instalment is paid by automatic credit card or paid manually. Instalment schedule is generated when the order is invoiced.

Instalment maintenance

Instalment payments

Instalment reports