Complex Payment Types

This module allows your inquiries, billings, receivables reports, as well as cash and income projection reports to reflect the appropriate payment amount in the proper period(s) for loans that have a more complex payment structure.

Complex payment types handled include:

• Step Payments:  You define the period in which a payment changes, and the dollar amount that it changes to. An account may have up to 14 payment steps.


• Skip (seasonal) Payments:  You define up to 4 payment skip months per year to handle this type of contract.


• Bi-Weekly Payments:  The customer is billed every 2 weeks.


• 1st and 15th Payments:  The customer is billed on the first and fifteenth of each month.


• Quarterly Payments:  The customer is billed the same amount every 3 months.


• Semi-Annual Payments:  The customer is billed the same amount every 6 months.


• Annual Payments:  The customer is billed the same amount every 12 months.