Creating interim charges on lease and rental contracts

You can create an interim charge to synchronize an out-of-schedule payment with the contract payment schedule, usually at the beginning of a contract.

Before you begin

Before you can create an interim charge on a lease or rental contract, the contract must be approved.

Procedure

  1. In the Lease/Rental Contracts application, select the contract for which you want to create an interim charge.
  2. Select the Manage Payments action.
  3. In the Payment Schedule dialog box, click New Row.
  4. In the Interim Charge field, specify the amount that is due in this payment cycle to synchronize the payment schedule.
  5. Click Generate Payments. The payments, including the interim charge, are generated.
  6. Save your changes.

Example

You leased or rented a car on the 10th day of the payment cycle and, therefore, you would not owe anything from the beginning of the payment cycle to the 10th day of the payment cycle. You are only responsible for payment from the 11th day until the end of the payment cycle. After making the interim charge payment, you are synchronized with the payment schedule.


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