Installments: Functionality Update
Prior to Fonteva 20Spring, installments were represented with invoices to show the payment schedule. In Fonteva 20Spring, if an invoice (Sales Order type Invoice) has installments, the system will create Scheduled Payment records.
Scheduled Payments can be designated for auto pay if the Payment Method is populated on it. When populated, the system assumes that the payment is to be automatically paid with the payment method defined on the Scheduled Payment record. When a payment method is not populated, it simply shows the amount and the date that the payment is due.
Because the Scheduled Payment object defines the installments for an invoice, you will now find specific details about the installment, including the Due Date and the amount of the installment (Overall Total). These can be scheduled to be paid automatically by the system if there is a Payment Method and Payment Gateway defined on the Scheduled Payment.
There is a new Payment Method lookup field. Previously, this was a master-detail, which meant it was required for Scheduled Payments. As a result, we have a new lookup field that is not required, and the old field will be deprecated. The product team has developed an install script that will migrate all Scheduled Payment record lookups to the new field when you install this release.
Previous vs. Today’s Behavior
This table shows the differences of the installment functionality pre- and post-Fonteva 20Spring.
Installments were Invoices.
Installments are Scheduled Payments.
Each installment was treated as if it were its own order.
Installments are treated as a part of one order.
First installment for subscription items that had installments was never represented as an installment. They were created as their own Invoice.
First installment is represented as an installment with a Scheduled Payment.
Each Installment invoice had its own Transactions.
There is now one set of Transactions for the invoice.
Learn more about display updates related to this new functionality on the Installments: Display Update page.
Balance Due and Currency Fields