Cancel or Postpone Scheduled Installments in Future

An instalment which was thought to be necessary and that should no longer be made can be cancelled from a payment campaign, not from a compensation file directly. Therefore it is imperative to create a payment campaign, select the instalments to be cancelled, go through the normal process of approving the payment campaign, and lastly cancel the instalments. Instead of processing with the confirmation of payment using the workflow action to “close” payments, you can select the option to “cancel” payments. A reason needs to be captured and after saving the record, you can observe in the original compensation file record that the instalment status is now “cancelled”.

Alternatively, sometimes an instalment should not be cancelled entirely but just postponed to a future date for some reason – the stakeholder couldn’t be present to collect his compensation, an external event occurred and prevented compensation from being confirmed, etc. In such case you can use the same procedure as described above, but instead of choosing the option to “cancel” or “close” payments, you have to choose the option to “postpone” payments. This way, the instalments remain in a status of “ready to pay” and can be included in a future payment campaign.

Was this article helpful?
0 out of 0 found this helpful
Have more questions? Submit a request