Garnishment Remittance Rules
My company requires remittance rules for garnishments that allow the payments to be issued (through FI Payment Processing) on the 7th, 14th, 21st and 28th of each month. Currently, when I review the configuration for Third Party Remittance Rules, our configuration is set up so that the, for example, our Remit on the 7th rule references:
H = End of Month - is the Transfer Interval
007 = 7 days - Number of Grace Period in Days
A = Calendar Days - is the Grace Period Type.
This is causing the payment to be issued the following month instead of the current month. We have tried changing the Transfer Interval to O = 4 times monthly (7, 14, 21, EOM) but that is causing the payment to the third party weekly instead of monthly.
Has anyone encountered this same issue and if so, how did you get the system to count 7 days (or 14, 21 or 28 days) from the BEGINNING of the month instead of the end of the month?
Any help would be greatly appreciated.