Sliding billing
With other billing methods the customers have to pay a fixed bill amount on the outstanding dues at any given time. Sliding Billing method offers the flexibility of generating bills for an amount based on the Principal Remaining at that time.
Parameters determining the bill amount
Parameter | Description |
---|---|
Evaluation Component |
The component on which the bill amount and the bill component is calculated. Options supported: Principal Remaining |
Evaluation Time |
The time from when the evaluation component should be checked for. Options supported:
|
Bill Component |
The amount that needs to be paid. This amount is returned by the Sliding Billing range. This amount can be any of the following options. Options supported:
For example: Amount returned by the Sliding Billing range = 100 Bill Component = Principal + Interest then Principal + Interest to be paid = 100 |
Workflow to configure sliding billing
Step 1: Define a sliding billing setup.
For more details refer to Defining a sliding billing setup.
Step 2: Associate the defined sliding billing setup with a product.
Example:
Step 3: Define the range for a sliding billing setup.
For more details refer to Defining a sliding billing range.
Defining a sliding billing setup
Perform the following steps to define a new Billing Sliding Setup:
Log in to your Salesforce account.
Click Servicing Configuration.
Click Product Management, Sliding Billing Setup.
Click Define a new Sliding Billing Setup.
Fill in the required details, and then click Save.
An Example:
Defining a sliding billing range
Perform the following steps to define a range for a Sliding Billing Setup:
Click the Lending Products tab, and then click View/Edit Lending Products.
Select the product for which you want to set the sliding billing range.
In the Sliding Billing Ranges section, click New Sliding Billing Range.
Fill in the values as described below, and then click Save.
Field | Description |
---|---|
Range Start Amount | The start value for the evaluation component. |
Range Amount | The value to be considered for the selected bill component, if the evaluation component s more than or equal to the Range Start Amount. |