Contract Payment Types: Payments Comprehensive Insurance

Payment type structures, posting classes, and setup

Payments Comprehensive Insurance

Use the payment type Comprehensive Insurance to set-up a payment schedule to make payments to your insurer.
This is only available when it has been set up for use in the Contract Types / Payments tab.

Payment Types

  • Finance

  • Finance - Principal and Interest

  • Comprehensive Insurance

  • Roadside Assistance

  • Management Fee

  • Sundry Payment

  • Sundry Payment - Packaged

Payment Structures

Fields

  • Payment Type (Drop List) — Choose 'Comprehensive Insurance'.

  • Payee (Text) — This field will be blank unless the contract is being salary packaged. This is a read-only field.

  • Payment Method (Text) — This field will be blank unless the contract is being salary packaged. This is a read-only field.

  • Schedule (Drop List) — Displays the "Supplier Code", "Supplier Ref" and "Final Payment Due" of the selected schedule. The presentation is 'Code - Ref - Due'. If there are multiple schedules, the active schedule is displayed. The active schedule has an Asterisk appending the display, e.g. 'Code - Ref - Due*'. Other schedules can be shown if selected. Selecting --ALL-- will display all schedule records from oldest to newest.

  • Supplier (Lookup) — The Contracts / Insurance "Insurer" will be displayed as the supplier being paid.

    Changes made here will also update the Contracts / Insurance "Insurer" field.

  • Supplier Ref (Text) — For new schedules, this value defaults from Contracts / Insurance "Policy Number". This can be updated.

    Changes made here will also update Contracts / Insurance "Policy Number" field. Access to this field is controlled via Role Restrictions.

  • Comprehensive Insurance (Num) — Defaults from "Base Cost" on the Insurance tab.

    Changes made here will also update the Contracts / Insurance "Base Cost" field.

  • FSL (Num) — Defaults from "Fire Service Levy" on the Insurance tab.

    Changes made here will also update the Contracts / Insurance "Fire Service Levy" field.

  • CSD (Num) — Defaults from "Stamp Duty" on the Insurance tab.

    Changes made here will also update the Contracts / Insurance "Stamp Duty" field.

  • Insurance Fee (Num) — Defaults from "Broker Fee" on the Insurance tab.

    Changes made here will also update the Contracts / Insurance "Broker Fee" field.

  • GST (Num) — Calculates GST for the regular payment. If the linked Contract Types / Payments “G” field is set as ‘N’, this field is hidden and value is set to 0.

  • Periodic Interval (Drop List) — Defaults from "Billing Frequency" on the Insurance tab. Changes require recalculation of values.

    Changes made here will also update the Contracts / Insurance "Billing Frequency" field.

  • Due Day (Num) — Defaults to '1'. Used to calculate the day part of "Due Date" for period 2 onwards.

  • Total Payments (Num) — Populates from contract “Term” and can be changed.

  • 1st Payment Due (Date) — First payment due date. Also used as Period 1 "Due Date". Subsequent dates are calculated based on interval and Due Day rules.

  • Final Payment Due (Date) — Calculated from "1st Payment Due" and "Total Payments".

  • On Hold (Check box) — Blank until set. See On Hold business rules.

  • Stop Payments (Check box) — Blank until set. See Stop Payments business rules.

Contract Totals

  • Life Billing Budget (Num) — GST exclusive total for Billing records in 'Posted' or 'Pending' status.

  • Life Payments (Num) — GST exclusive total for Payment records in 'Posted' or 'Pending' status.

Field

Type

Description

Variance

Num

Difference between Billing and Payment totals. Highlights mismatches between scheduled payments and planned billings. If both billing and payments are monthly, no variance should occur. Weekly or fortnightly billing may produce small rounding differences. This helps validate lease setup correctness. If a contract is suspended early with pending billing records, this value will reflect that. Refer to Funds Check or Driver FBT Report for termination variances.

Notes

Text

Enter a note for the schedule.

Payment Schedules

Column

Type

Description

**

Icon

PDF icon displayed if payment row is posted. Click to open remittance advice document.

#

Check Box

Select to unpost a posted row or delete a pending row. Disabled if part of BECS or BPAY batch.

Code

Text

Supplier Code for the row.

Period

Num

Period number.

Due Date

Date

Scheduled due date. Hyperlink to Payments / Periodic screen.

Post Date

Date

Date the payment was posted.

Net

Num

Net amount of payment. Heading shows linked posting class code.

GST

Num

GST amount. Hidden if “G” = ‘N’.

Total

Num

Net + GST amount.

Action Buttons

  • Print a PDF or CSV output of the Payment Schedule displayed on the screen.

  • Edit Pending rows (Date, Finance, CSD values).

    During an "Edit", the CSD will not re-calculate automatically if Finance values are changed.
    If the 'Period 1' row is edited, the "Initial Value" field will be updated with the new value.

  • Insert a new line in a Payment Schedule. Period, Due Date and Payment components can be entered manually. The schedule re-sorts by Period. Inserted rows are placed in the same period schedule row and can contain negative values. The Insert function is intended for corrections.

  • Un-Post: Select posted rows using "#". The Un-Post button is enabled if permitted. Payment No can only be selected if status is "Posted". Users with access to Fleet / Payments / Periodic screen and posting permissions can unpost payments that have not been exported. If supplier payment_method is in ('direct-credit','bpay'), and required fields are populated, the row checkbox is disabled. If only pending transactions exist, checkboxes are hidden and the schedule can be deleted. Posted rows cannot be deleted.

  • Vary: Used to create a Stop Payment or modify the Payment Structure and rebuild pending transactions. Intended for global updates such as correcting amounts or extending term. Inserted rows are not changed.

    Deleted rows in the outstanding date range will be recreated when a "Vary" is performed. Pending values are reset unless created via Insert.

  • Click to create required payment records.

Screen Legend

  • Pending — Red text; not yet posted.

  • Pre-Post — Black text on yellow background; partially processed and requires reset.

  • Posted — Posted transactions transferred to accounting system.

  • Stopped — Grey text/background; contract payments suspended.

  • History only — No accounting impact.

  • On Hold — Temporarily paused payments.