Payment arrangement templates

You can create templates for the different kinds of arrangements that customers can make to pay off delinquent amounts. You can also define arrangement templates for deposits, giving customers more time to pay deposits on their accounts. By having the terms of common arrangements predefined, you can quickly set up payment arrangements in the Manage Account page.

You can create three types of payment arrangement templates: fixed amount, fixed period, and payments only.

A fixed amount arrangement calls for the customer to make payments of a set amount at weekly, biweekly, semimonthly, monthly, or quarterly intervals until the arranged amount is paid off.

You can create three types of fixed period templates:

• In the first type, the customer makes a fixed number of payments at weekly, biweekly, semimonthly, monthly, or quarterly intervals until the arranged amount is paid off. To calculate the amount of each payment, Infor Public Sector divides the total arranged amount by the number of payments.
  Note: The total amount of an arrangement is the sum of the delinquent balances for the bill types that are included in the arrangement, plus the current balances for those bill types if the arrangement includes current balances.
• In the second type of fixed period arrangement, the amount of each payment is fixed rather than the number of payments. In this case the number of payments is calculated by dividing the arranged amount by the amount of each payment.
• Finally, a fixed period arrangement can call for the full amount due to be paid by a specified date.

The third type of arrangement is payments only. Usually an arrangement applies to a total arranged amount that the customer pays off over the term of the arrangement. For a payments only arrangement, Infor Public Sector doesn't keep track of the arranged amount. Instead, the arrangement ensures that the customer makes payments of the required amount at the specified intervals.