Recurring Payment
API name: cpm__Recurring_Payment__c
Description
The Recurring Payment object is only used if FinDock is the source for payment data (as opposed to e.g. NPSP). The Recurring Payment object allows you to define a certain amount receivable to be collected on a regular basis over a given time period.
Before recurring payments can be collected, the Recurring Payment needs to be active and linked to an active Mandate. Installment records are generated for collection based on the recurring payment details. Certain details can be updated e.g. via the Payment API or virtual terminal.
Fields
The following table outlines key fields for this object. For complete details, please use the Salesforce Object Manager.
| Label | Type | Description |
|---|---|---|
| # of collected installments | Number(18, 0) | Dynamic count of related installments with status Collected |
| Active | Checkbox | Must be true (checked) to collect payments |
| Amount | Currency(16, 2) | The amount to be collected at the specified frequency |
| Collection Day of Month | Picklist | This day is used to calculate the Next Collection Date. By default, FinDock uses 1, but a different day can be set through e.g. a Flow or by including the day in the payment intent call to the Payment API. |
| End Date | Date | After this date, no further installments are generated. |
| End Date Reached | Checkbox | This field is no longer used by FinDock and not included in any layouts. The checkbox can be set and leveraged by custom business processes if desired. |
| Frequency | Picklist | Collection interval for the recurring payment - Daily, Weekly, Monthly or Yearly. With Daily and Weekly, Collection Day of Month is ignored. The collection day for Weekly is defined by Start Date. |
| Last Collection Date | Date | When an installment is generated, this field is updated using the current Next Collection Date value, which in turn is recalculated for the next collection. The Last Collection Date is used as the Due Date and Original Due Date on the generated installment. |
| Next Collection Date | Date | This is a calculated date based on Frequency, Last Collection Date and Collection Day of Month. If the Collection Day of Month is not available, FinDock falls back to the last day of the given month, e.g. Feb. 28 if the collection day is 29, 30 or 31. This field value becomes the Due Date for the next generated installment. |
| Payment Method | Picklist | The default payment method for the installment |
| Payment Processor | Picklist | The payment processor through which the installment should be processed |
| Payment Profile | Lookup | If the payment method requires additional (e.g. credit card token), this comes from the related payment profile |
| Start Date | Date | The earliest date collections can start. If Start Date is before the Collection Day of Month for the starting month, the first collection occurs in that month. For example, if Start Date is July 10 and Collection Day of Month is 31, then Next Collection Date is July 31st. |