Plan for a Payment using Multiple Instalments

It may happen that there is a case where the total amount to pay is high and this could be risky to give it all in one instalment to a stakeholder, or that there is a case where the stakeholder agrees to a multi-instalment plan after it’s been made available as an option in the compensation rules (entitlement matrix).

In such cases you have the ability to control this within the compensation file record. When the status is “new” or “in progress”, you have to adapt the start date, frequency and duration fields in the “items” tab for each item where this applies. Remember that only choices made available in the corresponding entitlement matrix appear in the list. For example, you could split the total compensation of an item on 6 months by paying 1/6 of the amount every month by indicating a start date (for the first payment), a frequency of “monthly” and duration of “6m”. After you save the record and the page refreshes, you can review the scheduled instalments in the “deliveries” tab to confirm your settings.

Finally, it is important to note that the system would split the amount in multiple instalments when the item to be compensated is covered by a “cash: rate based” package item in the entitlement matrix. Should it be covered by a “cash: recurrent” package item, then the amount would not be split in the number of instalments, but repeated at each instalment.

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