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Object documentationPayment Schedules Locate this document in the navigation structure

 

Payment schedules are defined for pending transactions. The generated schedule contains future payment amounts and payment due dates that are recalculated based on adjustments made to the pending transaction (adding or deleting items). Ensure that payment amounts exclude the initial transaction deposit (minimum amount due).

Rounding rules, if configured for applicable tenders, can apply to payment schedules. The payment schedule amounts are calculated based on the local currency rounding rule such that only the last payment is not rounded. For more information about these rules, see Rounding Rules.

Example Example

If a payment schedule determines that five equal payments of $5.51 are required to complete the pending transaction, the following table shows payments with rounding rules applied:

Payment Schedule with Rounding Rules

Pending Transaction Amount

Rounded Amount

5.51

5.50

5.51

5.50

5.51

5.50

5.51

5.50

5.51

5.55

Total:

$27.55
End of the example.

Customers can choose to make payments in more than one tender, including foreign currencies. For more information about foreign tenders, see Currencies. One amount of a tender is converted to another amount in another tender, and both tenders can have rounding rules. In this case, the first amount is validated by the cashier according to the validation rules. The second amount is rounded using the issuance rounding rules. The formula for calculating a rounded value is Rounding value = Rounded amount - Non-Rounded amount.

Example Example

When converting a check to Euros: A 100.00 $AUD check converts to 73.47 Euros, which is rounded to 73.40 Euros. The rounding value is 0.07 Euros, which is equivalent to 0.09 $AUD.

End of the example.

Payment schedule information is available in reports that are generated using the POS Manager. For more information about the POS Manager application, see the POS Manager User Guide.

General

Screen Element

Description

Minimum Deposit Amount

Value required as a deposit for a pending transaction

Minimum Percentage Deposit

Percentage of the total pending transaction sale that is required as a deposit

UDF to Confirm Deposit

User-Defined Function (UDF) that the system triggers to confirm or override the deposit amount

Payments

The payment schedule includes the following definitions:

  • Add Row — adds a blank row for payment schedule configuration

  • No. of Days — the number of days in which the customer has to make the first payment

  • Percentage Due— the percentage of the pending transaction sale that is due for the first payment