EBI 9.2 - How Billing Remaining Installment Amounts Are Calculated If User Decides to Prepay Portion of the Bill Amount In Between the Term of the Installment Period (Doc ID 2643163.1)

Last updated on SEPTEMBER 01, 2021

Applies to:

Goal

Question : If an user prepays a portion of the total amount for an installment bill, then how it affects the future installment amount?

Example:

An user created an Installment bill for $60,000.00 over 4 installments. The first two installments of $15,000.00 are generated correctly. 
Now the user reduced Installment bill by $10,000.00 over remaining 2 installments. Expect to see two remaining installments of $10,000.00 each (50,000.00 - 30,000.00 = $20.000.00 remaining. 20,000.00/2 = 10,000.00 each installment).
When the new installment bill schedule was generated, the 3rd installment Amount is $12,500.00 and the 4th Installment Amount is $7,500.00.

Why is the change in the Installment Amount not spread equally across the remaining installment amounts?
 

Solution

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