Note Based Charge (FR15.4)
Use Note Based Charge (FR15.4) to create and maintain a charge to a customer who has a contract with a principal and interest computation. The charge is a fixed amount for each cycle, but is broken out into principal and interest for posting to the general ledger.
Note: Whenever possible, define your contract frequency
to be the same as or greater than the frequency defined for your fiscal year
calendar in FR00.1 (Calendar).
Processing Effect
When you release an actual sales record that contains a note-based charge, the note balance is updated by subtracting the charge amount.
More Information
You must receive the note payment through the Accounts Receivable application for cash application and general ledger posting.