Receipts - Recurring Payment
Manual Receipt payments can be raised against the invoice which allow user to update the Repayment Plan based on manual receipt raised.
Existing functionality of manual receipt will remain the same.
All Receipts will be recorded against each installment
Balance owing will be reduced by each receipt. payment status on Repayment Plan will be changed as follows;
-
If the Installment paid in full status will be changed to "Paid"
-
If the installment is paid partially status will be changed to "Partially Paid"
-
If full invoice due amount settled with a Manual Receipt, installments with "Unpaid" status will be changed to "Paid".
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Call will be sent to opuspay inactivate the recurring token created against the payment plan and init token will be null in the database (If the init token is registration incomplete, token will be called to expired).
Paid Amount will be separately maintained in repayment plan which will track paid amount from manual receipts and payment processor.
The Payment Processor needs to include Repayments with Status: Unpaid and Partially Paid
Payment processor and manual Receipt will only charge amount outstanding from the installment.
Formula to calculate amount outstanding is defined in Receipt Screen.
If more than 1 manual receipt is processed against an instalment:
- the Receipt Date displays the date of the last receipt processed
- the Repayment Amount is progressively reduced by the amount of the manual receipt/s
- the Receipts is progressively increased by the amount of the manual receipts
NOTE: end user can navigate to the S&B Receipts list to review the full detailed list of Receipts processed.
EXAMPLE:
$2000 was receipted manually before the first instalment is processed:
Instalment #1 of $1,666.50 is settled in full.
Repayment Amount changes to 0.00 | Receipts shows 1,666.50 | status = Paid
Balance of 333.50 carries forward to #2 instalment
Repayment Amount reduces to 1,333.00 | Receipts shows 333.50 | status = Partially Paid
|
Repayment Number
|
Repayment Date
|
Receipt Date
|
%
|
Repayment Amount ($)
|
Receipts
|
Payment Status
|
|
1
|
30/03/2023
|
10/03/2023
|
33.33
|
0.00
|
1,666.50
|
Paid
|
|
2
|
30/04/2023
|
10/03/2023
|
33.33
|
1,333.00
|
333.50
|
Partially Paid
|
|
3
|
30/05/2023
|
|
33.34
|
1,667.00
|
0.00
|
Unpaid
|
In this example, the next automated payment via payment processor falls due on 30/04/2023 for $1,333.00
NOTE:
Payment schedule (Repayment Plan) should track receipts raised against each installment. It should also include the settle amount against the receipt.
If an installment is paid/ partially paid from a Manual Receipt, payment link already sent along with payment notice should be invalided and if there any balance repayment payment amount due, new payment notice needed to be sent with recalculated outstanding amount.
