Calculate Automatic Payments

Automatic payment plans provide an efficient way for you to handle payments for your clients. With fixed payment plans, clients can pay fixed amounts according to a schedule.

From the list of payments in Receivables, Payments, you can calculate fixed automatic payments and preview the results before generating. If necessary, update your parameters and preview again.

After the process runs, deposit and payment records are created for each scheduled payment.

Tip: From a client record, under Automatic payments, you can filter and view existing payments by type and status, or add new ones.

1. From Receivables, Payments, select Calculate automatic payments.

2. Under Filters, narrow your criteria.

   For fixed schedules, include payments based on specific dates or ranges. For unlimited schedules, include payments based on a date or choose a specific number of payments.

   Add additional filters as necessary.

3. Select Next.

   Under Deposit, enter details that will display on the new deposit record, including deposit and posting info, bank account, and projections.

4. Select Next.

   Under Payments, specify the payment date, posting info, and payment source. Enter relevant comments as needed.

5. After you confirm your criteria, choose how to proceed:

• Preview - Select and apply filters to review payments that will be included in the calculation. When ready, select Generate. Deposit and payment records are created for each scheduled payment.

• Generate - Immediately calculate and generate based on the selected criteria. Deposit and payment records are created for each scheduled payment.