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How do I book a unit on an instalment plan?

On Sales Agreement, choose Billing Condition Installment, then build the plan from the grid's schedule button: one Stage line for the down payment, one Installment line for the monthly instalments.

Screen
Sales Agreement (Real Estate › Process)
Who
Sales administration
Takes effect
On save
Needs first
A priced unit, the buyer as a customer

Before you start​

  • The unit is not blocked, reserved or sold.
  • The payment categories exist.

Steps​

  1. Click New, pick Agreement Type Sales, the Property and the Unit No.
  2. Pick the Customer and Billing Condition Installment, then Create. The unit cost, discount and additional charges come in by themselves.
  3. Check Unit Cost and the discount on the Unit Cost tab, and set Payment Date to the date the plan starts.
  4. Open the plan from the schedule button on the payment lines grid. Add a line with Payment Basis Stage, the down payment category and the amount. Add a line with Payment Basis Installment, the instalment category, Period Unit monthly, Period From 1, Period To 36, Period Interval 1 and the monthly amount.
  5. Close the plan with save. The payment lines are generated: one for the down payment and 36 monthly ones.
  6. Save. The lines must add up to the Unit Payment Amount plus the charges in the plan.

Check it worked​

  • The Installment Condition tab lists every instalment with its due date.
  • The unit no longer appears in the Unit No lookup of a new agreement.

If something looks wrong​

  • "Unit Amount is not matching Installment Plan" or "Total Amount ... is not matching schdule Lines" The plan total is off. A 6,000,000 unit with 1,200,000 down needs 36 instalments of 133,333.33 and a last-cent difference fixed on one line.
  • "Sales Agreement already created against this Unit - ..." The unit is sold.