The total for the Month Percentage columns must equal 100%. This is true even if all values are not displayed, which is the case if the Number of Months is greater than 12.
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The total for the Month Percentage columns must equal 100%. This is true even if all values are not displayed, which is the case if the Number of Months is greater than 12. |
1. Open the Payment Plan Control window.
2. Choose Add Row from the right-click or Options menu.
3. In the new row, enter a two-character payment plan code in the Code column. Enter a description of the code in the Description column.
4. Select the Tailored radio button if you want to make the payment plan one that can be tailored to meet unique circumstances. Select the Standard Percentages radio button if you want to use standard monthly percentages. If you select the Loan radio button, please refer to the Creating a new Payment Plan for an In-House Loan topic for step-by-step instructions.
5. If the Standard Percentages plan is selected, enter the number of months of the plan in the Number of Months column.
6. Enter values in the Month Percentage columns. The values entered depend on the value entered in the Number of Months column.
7. Select one of the Balance for Finance Charge options, depending on whether the finance charge is to be applied to the Subsidiary Balance or the Payment Plan Balance.
8. Save.
9. Select this new payment plan as the default for an individual on the Master tab of the Subsidiaries window in the Main module.
10. Enter the Years Estimated Cost.
11. Save.
12. Access the Generate Payment Plans window to generate the payment plan.