1 / 11

Payments

Payments. A Payment Is Distributed Amongst The Account’s Services. Metered Services. Payment. Non Metered Services. Intangible Services. Deposit. Payment Arrangement. Land Lease. Charitable Contribution. Important Payment Concepts. A payment is linked to an account

lauraaward
Download Presentation

Payments

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Payments

  2. A Payment Is Distributed Amongst The Account’s Services Metered Services Payment Non Metered Services Intangible Services Deposit Payment Arrangement Land Lease Charitable Contribution

  3. Important Payment Concepts • A payment is linked to an account • Over time, many payments may be applied to an account’s debt • Payments contain payment segments • A payment contains one payment segment for every SA to which the payment is distributed • A payment segment has a FT • The financial transaction contains the financial effects of the segment on the service agreement’s current and payoff balances and on the general ledger • Canceling a payment creates a FT • Reversal of the original FT

  4. Payment ERD Payment A payment must be distributed into payment segments Payment Segment FT A payment segment has 1 FT unless it’s been cancelled; then it has 2 Account SA

  5. Payment Events & Tenders

  6. A Payment Event Has Payments And Tenders A tender is required for every form of tender remitted, e.g., if both cash and a check are remitted, the event will have 2 tenders A payment event is required whenever any form of payment is received The total tender amount is allocated to one or more accounts with payments - each account gets a separate payment

  7. Payment Event ERD Payment Event Payment Tender Tender Type This model is correct, but incomplete. It will be completed a bit later. Account Payment SA Payment Segment FT

  8. Deposit Control

  9. Tenders Are Ultimately Deposited • Tenders are eventually deposited. Each deposit event is recorded with a bank deposit • A depositcontrol contains many tender controls • The amount deposited must balance against the depositcontrol’s tender controls Deposit Control Bank Deposit Tender Control A deposit control is created for each group of tender controls that are deposited together Payment Tender

  10. Deposit Control Lifecycle A deposit control has a similar lifecycle as does a tender control Deposit Control Tender Control

  11. An Example Of 4 Tender Control Deposited Under A Single Deposit Control

More Related