1. Introduction

On this page, you can configure Seamless to distribute payment schedules from policy start (current default) or the end date so that the “odd one out” happens to be the first one

• [ST] Seamless empowers users to specify the allocation of residual amounts, offering the choice to apply it to either the first or final installment (Put Residual On Last Payment Instead Of First). Additionally, it provides a variety of settings enabling users to determine the due dates for installments, such as selecting a Preferred collection day and the option to Collect on Preferred Day Before Instalment Period. For more detailed information, visit https://contemi.atlassian.net/wiki/x/J4DZbQ.

Open

2. Calculate Date Backwards

For instance, if a policy period 15.01.2022 - 31.12.2022

• The option is No: then the installment periods will be from the start date + 30 days: 15.01-14.02, 15.02-14.03,…,15.12-31.12

• The option is Yes: then the installment periods will be from the start date to the end of the month, even if your start date is the middle of the month: 15.01-31.01, 01.02-28.02, 01.03-31.03,…,01.12-31.12

3. Put Residual On Last Payment Instead Of First

For instance, when you have 122 kr and 12 installments, there would be 2 kr which cannot be equally distributed across all the installments.

• The option is Yes: we will have 2 kr at the end of the month. The installment plan will be 10, 10, 10......12

• If the option is No: the 2kr will be in the first month. The installment plan will be 12, 10, 10......10

4. Preferred collection day

For example, 15.01 - 14.02 will have 15th as the due date. However, if there is a preferred selection of 1, the due date will be the 1.02

Open

Having bug https://seamlessinsure.atlassian.net/browse/SEAMLESS-47082

5. Collect on Preferred Day Before Instalment Period

These are 2 scenarios when using this configuration

6. Collect Adjustments immediately

The default option is Yes

1. The option is Yes: Seamless will bundle all payments that are adjusting previous invoice payments and create a single transaction. This essentially concerns back-dated adjustments of already invoice installments.

7. Skip Adjustment Bundling

The default option is No.

1. The option is Yes: the Collection Adjustments are superseded immediately. And it creates a separate adjustment for every adjusted period that has already been processed. Each adjustment transaction created will point to the transaction it is replacing

   1. Notice! If Skip Adjustment Bundling and Collect Adjustments immediately are No, there is no special processing for adjusted periods - meaning that they will be handled during normal distribution

8. Adjustment Bundling Threshold In Days

Applicable when adjustment installments are created separately. (By setting SkipAdjustmentBundling as yes). For these installments that are created, we need to set a due date. We will align this due date with any upcoming installment within the configured number of days.

1. For example, we are in 27/03 and an adjustment is created for 20.03-14.03. The due date of this will be aligned to the upcoming 15.03-14.04 installment.

9. Minimum Unit Length In Days

This helps find the minimum no.of days that we should consider as one installment period.

1. For instance, if you have a policy 25.01 - 31.12, with monthly installment, and Calculate Date Backwards is yes, we will have installment periods for 25.01-31.01, 01.02-28.02, 01.03-31.03..... 01.12-31.12.

   1. If this is set to 5 days as an example, then we will have 25.01-31.01, 01.02-28.02, 01.03-31.03..... 01.12-31.12.

   2. If it is set to a standard of 15 days or so, we will have 25.01-28.02, 01.03-31.03...., 01.12-31.12

10. Merge Window in Days

Ideally, it should be set to 0 days. When we add some new installments, or handling adjustments, based on this configuration, we will merge the amount with the next installment

11. Grace Period

The grace period is the minimum number of days you allow between the purchase of a policy and the first installment's due date.

Ideally, all installments should be due on the first day or the preferred day, depending on your configuration, like the preferred collection date. However, in situations where you buy a policy that is either backdated or very soon, you want to provide a buffer time before expecting the customer to make their first payment. This buffer is important because certain payment methods, like sending an invoice, might take some time to reach the customer.

12. Collect Tax Upfront

TBD (This setting is for Denmark. It is not applicable for other countries.)

13. Combine Items

TBD

14. Adjustment Round To Decimal Places

TBD

15. Non Regular Period

TBD

16. Invoice Submission Period In Days

Configure the number of days before the first installment due date so the invoice (positive installment) will be frozen and exported.

1. For instance, the invoice submission period in days = 3. When the first installment due date is 04/01/2023, then the installment will be frozen and exported at 01/01/2023 (Booking on)

Frozen installment = the system will freeze the installment and won’t let the installment be changed.

17. Subsequent Invoice Submission Period In Days

Configure the booking on date, as number of days before the next installment due date so the invoice (positive installment) will be frozen and exported.

1. For instance, the Subsequence invoice submission period in days = 3. When the second installment due date is 04/01/2023, then the installment will be frozen and exported at 01/01/2023 (Booking on)

18. Credit Submission Period In Days

Configure the number of days before the first installment due date so the credit (negative installment) will be frozen and exported.

1. For instance, the Credit submission period in days = 3. When the first installment due date is 04/01/2023, then the installment will be frozen and exported at 01/01/2023 (Booking on)

19. Subsequent Credit Submission Period In Days

Configure the number of days before the next installment due date so the credit (negative installment) will be frozen and exported.

1. For instance, the Subsequence credit submission period in days = 3. When the second installment due date is 04/01/2023, then the installment will be frozen and exported at 01/01/2023 (Booking on)

20. Minimum Waiting Period Before Procession In Hours

TBD

21. Debit Maximum Instalment Amount To Merge

Merge the adjustment installment to the next installment when the installment amount is <= the configuration

22. Credit Maximum Instalment Amount To Merge

Merge the credit adjustment installment to the next installment when the installment amount is <= the configuration