Annual Rollover
This process only occurs for Weekly, Fortnightly and Monthly Direct Debits, which have an end date.
The process is as follows
- When the Payment End Date occurs, no more payments are required, and the Schedule changes to Completed
- We require no action from the User to stay on FlexiPay in the new billing cycle
- When a new Notice is issued in the new billing cycle, a check is completed for Schedules at Completed, with the same Name and Account Number as a notice that is being issued.
- Should one be matched, a new Total Amount is picked up
- As part of your Job to issue these notices, you will be asked when you wish for these Schedules to start again from
- The same Calculation will be run, from the starting date you have nominated, to the End date, using the Users previous Frequency and Next Payment Date preference.
- When notices are issued, a seperate email will be issued notifying the User of this new Amount,
- This email will allow the User to change the Frequency and Starting date. This can be done up until the first payment is processed.
This means that a User who likes Weekly payments on Thursdays can stay on this process. If you Job is being Approved on the 10th July, and you request payments begin on the 26th (two weeks from printing), then first Thursday from the 26th will be used as their Starting date.