At any point during the payment schedule, a customer may choose to regenerate the entire payment schedule. When a payment frequency is regenerated, the user changes the payment frequency, which causes ,all existing scheduled payments to be deleted, and the system recreates the scheduled payments according to the new frequency. All payments made on the order line are distributed against the new schedule. For example, a payment schedule for an order of $120.00 may initially be set up for 12 monthly payments of $10.00. Then, after one payment of $10.00 has been paid, the customer chooses to change the frequency to 4 quarterly payments. The system deletes the 12 scheduled payments, creates four scheduled payments for $30 each, and applies the $10 payment to the first $30 scheduled payment. The first scheduled payment is split, leaving $10 as paid and $20 as pending.
To change the payment frequency:
1. From the Payment Schedule screen, click Regenerate.
The Payment Schedule Parameters screen displays.
2. Select the Pay Frequency from the drop-down.
3. Select the Auto Pay Method from the drop-down.
4. Enter the appropriate information Parameters section.
5. Click OK.