By employing inter-related monitoring methods, an end user can apply valid checks to an account based on their knowledge of the agreed repayment schedule. For instance, where a tenant's regular charging frequency is weekly but the repayment arrangement is fulfilled through a monthly lump sum, the repayment monitoring frequency can be configured accordingly.
The procedure to make a repayment arrangement for a rent account is as follows:
- Using the global search facility, type in the first few characters of either the responsible contact for the agreement or the asset address
1.
- Double-click on the row containing the exact record match. Where the expected record is not listed, a more advanced search can be conducted using the spy-glass icon (
).
- Click on Agreements (contact summary 360 view) or History (for an asset) 2. The Agreements tile (or History tab) is activated, revealing a list of all agreements associated with the contact (or asset) in the Agreements (or Rent) summary table.
- Double-click on the specific agreement against which an account repayment arrangement has been agreed. The Agreement Details window is displayed.
- Click on Accounts. The Accounts tab is activated.
- Double-click on the specific account against which a repayment arrangement has been agreed. The Account Details window is displayed.
- Click on Arrangements. The Arrangements tab is activated.
- Click on New Repayment Arrangement. The Repayment Arrangement - Monitoring Methods window is displayed.
- Using the Arrangement type drop-down field, select the appropriate parameter value for the repayment e.g. Standard Repayment, Informal Arrangement, Court Order, etc.
- Using the Monitoring method drop-down field, select the appropriate parameter value used to verify that all repayments are being honoured in accordance with the calculated schedule e.g. Reduction from start balance, Reduction from previous balance, Maintaining balance, etc. Optionally, select a subsidiary monitoring method using the adjacent drop-down field that will operate in conjunction with the main method chosen e.g. Value of all payments in a defined period 3.
- Enter the Total to be repaid into the field provided i.e. the combined arrears value to be cleared by the repayment. The Up and Down arrows are available to increment or decrement the value, as required.
- Enter the Start and Repay by dates using the calendar icons (
), or type in the values directly (format DD/MM/YY or DD/MM/YYYY) i.e. the dates defining the agreed repayment period.
- Using the Frequency drop-down field, select the desired recurrence of the planned repayments e.g. Daily, Fortnightly, Weekly, 4 Weekly, Monthly, etc.
- Click on Next. The Repayment Arrangement - Payment Details window is displayed, summarising the proposed framework for recovering the arrears balance; click on Back to rectify any errors or omissions.
- Click on Next. The Repayment Arrangement - Repayment Schedule window is displayed, revealing the calculated schedule of payments.
- Click on Save. The new repayment arrangement is displayed in the Arrangement table 4.
Note
1 The search facility will automatically return all possible matches for a contact's first name and last name once the Number of characters before an automatic search commences system preference is reached; it will likewise return all possible matches for any corresponding address field.
2 The availability and customisation of all Contact Summary 360 View tiles is controlled separately for each end user via their unique system profile.
3 Where a 'main' and 'subsidiary' monitoring method are selected for the same repayment arrangement, the constituent checks will be applied separately to determine whether an arrangement has been broken.
4 The arrangement status is set to First Check and will then be automatically updated based on the balance of account: Broken and Cleared.
See related topics...
Rents account payment processing overview
To cancel a repayment arrangement from a rent account
To define the user profile
Using the search facility
