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Payments 1/11/2019 Payments ©2003 SPL WorldGroup, Inc.

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Presentation on theme: "Payments 1/11/2019 Payments ©2003 SPL WorldGroup, Inc."— Presentation transcript:

1 Payments 1/11/2019 Payments ©2003 SPL WorldGroup, Inc

2 A Payment Is Distributed Amongst The Account’s Services
Metered Services Payment Non Metered Services Intangible Services Deposit Payment Arrangement Land Lease Charitable Contribution

3 Important Payment Concepts
Payments 1/11/2019 A payment is linked to an account Over time, many payments may be applied to an account’s debt Payments contain payment segments A payment contains one payment segment for every SA to which the payment is distributed A payment segment has a FT The financial transaction contains the financial effects of the segment on the service agreement’s current and payoff balances and on the general ledger Canceling a payment creates a FT Reversal of the original FT ©2003 SPL WorldGroup, Inc

4 A payment segment has 1 FT unless it’s been cancelled; then it has 2
Payment ERD Account Payment Payment Segment A payment must be distributed into payment segments SA FT A payment segment has 1 FT unless it’s been cancelled; then it has 2

5 Payment Events & Tenders

6 A Payment Event Has Payments And Tenders
A tender is required for every form of tender remitted, e.g., if both cash and a check are remitted, the event will have 2 tenders A payment event is required whenever any form of payment is received The total tender amount is allocated to one or more accounts with payments - each account gets a separate payment

7 Payment Event ERD Payment Event Account Payment Tender Payment SA
Tender Type This model is correct, but incomplete. It will be completed a bit later. Account Payment SA Payment Segment FT

8 Deposit Control

9 Tenders Are Ultimately Deposited
Payments 1/11/2019 Tenders are eventually deposited. Each deposit event is recorded with a bank deposit A deposit control contains many tender controls The amount deposited must balance against the deposit control’s tender controls Deposit Control Bank Deposit Tender Control A deposit control is created for each group of tender controls that are deposited together Payment Tender ©2003 SPL WorldGroup, Inc

10 Deposit Control Lifecycle
Payments 1/11/2019 A deposit control has a similar lifecycle as does a tender control Deposit Control Tender Control ©2003 SPL WorldGroup, Inc

11 An Example Of 4 Tender Control Deposited Under A Single Deposit Control
Payments 1/11/2019 ©2003 SPL WorldGroup, Inc

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