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Latitude Help
Payment Spread Permission
Use the Payment Spread permission to specify settings for how to spread payments across linked accounts.
Location
In the Navigation pane, click Configuration > Payment Processing > Payment Spread.
Scope
This permission is available for the following scopes:
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System
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Business Class
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Client Group
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Client
Policy
The policy allows your organization to specify how the system spreads payments across linked accounts. Enable the permission for a scope and then specify the settings.
Payment Spread Method: Method for spreading payments across linked accounts. Valid values are:
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Spread payments in order of the customer priority: The system applies payments to the linked accounts based on how you prioritized the payments for each customer, starting with the highest priority. If you assigned the same priority to accounts, the system applies the payments proportionally.
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Spread payments evenly over each account: The system divides the payments and applies an equal amount to each linked account.
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Spread payments according to their fees: The system applies payments to the highest yielding linked account first, based on the balance and fee schedule.
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Spread payments over each account in the specified order: The system sorts the linked accounts according to the order you specify in the Sort Field 1 through Sort Field 4 and Sort Field 1 Order through Sort Field 4 Order policies in this permission and then applies the payments in that order.
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Spread payments over each account proportionally by current balance: The system applies payments to each linked account based on the amount owed in relation to the total balance of all the linked accounts listed. The system divides the amount owed for an account by the total balance for the combined accounts to get a percent. The system multiplies the payment by that percent and applies the result to that account.
For example, the total balance for the three accounts shown in the example is 3,217.47.
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First Account: Divide 250 (the balance for the first account) by 3,217.47 to get .08. If the payment amount is $200, multiply 0.08 by 200 to get 16. The system applies $16 of the $200 payment to the first account.
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Second Account: Divide 967.47 (the balance for the second account) by 3,217.47 to get 0.30. Multiply 0.30 by 200 to get 60. The system applies $60 of the $200 payment to the second account.
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Third Account: Divide 2,000 (the balance for the third account) by 3,217.47 to get 0.62. Multiply 0.62 by 200 to get 124. The system applies $124 of the $200 payment to the third account. 16 + 60 + 124 = 200.
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Spread payments in order of the Fee Schedule Bucket priority and then in the specified order: The system applies payments to the linked accounts according to the money bucket priory set for the fee schedule and the order you specify in the Sort Field 1 through Sort Field 4 and Sort Field 1 Order through Sort Field 4 Order policies in this permission. The system sorts the accounts according to the sort policies specified. The system applies the payment to the priority 1 bucket of the first account in the sorted list, until the balance in that bucket is zero or no funds remain to apply. If funds remain, the system applies the payment to the priority 1 bucket of the next account in the sorted list until the balance in that bucket is zero or no funds remain to apply. If funds remain after applying the payment to the priority 1 buckets for all the linked accounts, the system begins applying the remaining funds to the priority 2 buckets in the same manner. The system continues applying the payment until no funds remain to apply or all linked account balances are zero.
Sort Field 1: First field by which to sort accounts when applying payments.
Sort Field 1 Order: Order in which to sort the data in the field specified in Sort Field 1.
Sort Field 2: Second field by which to sort accounts when applying payments.
Sort Field 2 Order: Order in which to sort the data in the field specified in Sort Field 2.
Sort Field 3: Third field by which to sort accounts when applying payments.
Sort Field 3 Order: Order in which to sort the data in the field specified in Sort Field 3.
Sort Field 4: Fourth field by which to sort accounts when applying payments.
Sort Field 4 Order: Order in which to sort the data in the field specified in Sort Field 4.
Note: If you specify more than one sort field, the system sorts the accounts by the first field specified. Within that sort order, the system then sorts the accounts by the second field specified. The system continues sorting in this manner for any subsequent sort fields specified. After sorting the accounts, the system applies payments to the accounts beginning with the first account in the sorted list.