Payment Schedules

AOA and its affiliates have the option of allowing constituents to make multiple payments on an order through a payment schedule.  Rather than requiring the order be paid in one full payment, payments can be spread out over a specified period.  A payment schedule is comprised of defined “scheduled payments,” which are assigned a due date and dollar amount.  The sum of all scheduled payments must add up to the order line total.

Note:  Certain subsystem products can be configured to automatically generate a payment schedule for orders.  These subsystems include Memberships, Subscriptions, and Exhibition products, as well as for Fundraising pledges.

When a payment schedule is created, the system creates a deferred receipt transaction (Type 9) for the total amount due in the future.  If a batch is open, the system will calculate the deferred receipt transaction amount based on the batch date, not the current date.  For example, if today is January 3, but the batch that is open is dated December 28, the system will create a deferred receipt transaction for all amounts due after December 28.

Running the FAR680 batch process recalculates deferred receipt amounts by comparing the due dates on the payment schedule against the FAR680 process date.