Installment plan v/s payment schema

[Former Member]

Hello,

Instalment paln and payment schema(Budget Billling) both does the same functions.If i am right what are the differences.

which gives the higher flexibility?where, how , when we use????

[Former Member · Accepted solution]

Installment plan = short term plans...used for few line items

PS = Long term plans...used for whole account <<contract>>.

It depends on the policy of your co to go for....Do not try to read them together.

Rgds

Rajendra

[Former Member]

Hello,

can i cancel the ps and go to installment plan and again to payment schema??

is this possible ,Do we have any scenarios for this??

Regards,

Narendar Konakanchi

[Former Member]

hi,Naren,

u could not do like that shifting from instalmentplan to ps and instalment plans

Installment plan = short term plans,used for few line items only

Payment Schemes = Long term plans - used for whole account <<contract>>.

.Do not try to read them together,

Regds

surya

[Former Member]

FYI...

can i cancel the ps

Yes...at any time you can

go to installment plan

Yes you can provided you have Open Items with out clearing restriction 'R'.

again to payment schema

Yes!! provided you have the setup ready for PS.

is this possible

Look above

Do we have any scenarios for this

In normal circumstances..I'd say no..coz once you terminate teh PS...it indicates wrong CW. Usually companies do not offer PS again in a short time.

But for testing you can create as you like. Again I'm suggesting pls do not read them together. Scope wise both are different though you may have PLAN at the end <<i.e short term/ long term plans>>

Hope this helps

Rgds

Rajendra

[kevin_dewilde]

The biggest difference in payment schemes such as budget billing and installment plans is not in the term, but in the purpose of use.

Budget billing is created upfront for a certain period, using an estimation of the consumption to come over that period. It's used to spread upcoming bills in time (for example, based on your previous year, you'll have to pay 600u20AC in six months time, therefor we'll make you a budget billing already charging you 100u20AC each month until you receive you invoice).

Budget billing is (always) deducted from your next invoice, after which a new bbp starts.

Installment plans are used to pay off debt, after they are already invoices. Installment plans are made from open items, which are combined and redistributed over a couple of months. So, it's for bills you should already have paid, but for which you didn't have the money at the time. For example: you have two unpaid invoices, one for 100u20AC and one for 250u20AC. You cannot paid them this month and ask you utility company for a plan. They create an installment plan for 350u20AC, spreading this amount over 7 months, so you'll have to pay 50u20AC each month.

Usually, there's no need to which between BBP and installment plans. They can be use indepentently and can co-exist for one customer. You can use invoiced BBP items in an installment plan (because once invoices they are just open items). You can also cancel an installment plan and retrieve the original open items.

Hope this helps!