The Payment Schedule object represents a single bulk payment collection run for a specific source and payment method. Payment schedules capture the details of each bulk payment run (such as a direct debit collection) and selects or creates the installments accordingly. After the installment selection process is complete, it will notify the payment processor package that collection can commence.
The key fields on the payment schedule object are:
- Status: by default this is set to “Scheduled”, and it will continue to progress to the statuses until an end-stage is reached (usually “Verified”)
- Source: this indicates which installments should be selected or generated. This picklist automatically updates to contain all activated Source Connectors in your FinDock installation.
- Payment Method: this determines for what payment method you wish to execute a bulk collection run, only payment methods that support bulk collection will be available here.
- Payment Processor: the processor to use for this bulk collection, only processors that can process the selected payment method in bulk area available here
- Target: some processors require an additional parameter called target to correctly collect the installments in this payment schedule.
- Run date: the date the payment schedule will select/generate the installments and submit them to the payment processor
- Selection date: this date determines which installments are included. Each installment has to have a due date less or equal to this selection date to be included.
Customizing the Payment Schedule object
Customizing the payment schedule object with custom fields and validation rules is supported, however, FinDock should at all times be able to update the status of the payment schedule to indicate the progression of the process. Customizations that disrupt this process might cause the bulk collection run to fail.