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 Editing Payment Agreements

Use

You define amounts and time data for a savings scheme on the Payment Agreement tab page.

Prerequisites

You have activated the Payment Agreement feature and made settings for the product attributes under the Payment Agreement node for the product on which the account is based. You do this in the IMG activity Create Account Product or Change Account Product in Customizing for Account Management (FS-AM) .

Procedure

  1. In the Installment Agreement group box, define the installment amount that has to be regularly deposited in the account. If a one-off special payment is required, also define the amount of the special payment and the date on which the amount has to be deposited in the account.

  2. In the Term Data group box, define the duration of the entire savings scheme and the payment phase and inactivity phase.

    The system calculates the date for the start of the savings scheme according to the settings made in Customizing for Account Management under Start of the navigation path Account Products Next navigation step Create Account Product Next navigation step Used Attributes Next navigation step Payment Agreement Next navigation step Product Specifications Next navigation step Determine Start of Payment Agreement End of the navigation path .

    For more information, see the attribute documentation.

    1. Enter the duration of the payment phase and inactivity phase (in days, months or years). From these details the system calculates the end of the payment phase and the savings scheme and also the date the last installment is due.

    2. Enter a date for the start of the installment agreement. From this date and the time period details (step 3) the system calculates the date of the first installment and changes the start of the installment from the date of the first due installment payment.

  3. In the Time Periods for Installment Payment group box, define the frequency (time periods) at which the installment payments are to be made.

    The default value for the Starting Date field is defined in the account product Customizing settings and can be changed. For more information, see the documentation for this field.

    Note Note

    The Current Phase and Final Response fields, and the Cash Flow Disturbance indicator in the Phase group box are all display fields. For more information, see the documentation for these fields.

    After you create the account, this group box also contains the functions Display Payment History and Display Dates .

    End of the note.