This section provides a comprehensive guide on setting up and managing payment schedules within MAXMONEY, particularly useful for organizations with non-standard payroll cycles, such as government agencies.

Note: These schedules do not alter the functionality of the Payment Systems or dispute resolution processes.

MAXMONEY Setup

To configure payment by schedule, you'll need access to specific resources:

Resources

Users require the following permissions:

• Update Client Payment Schedule
• Update Employer Payment Schedule
• Frequency Payment per Schedule Setup

General Setup

1. Navigate to Setups > Loan Related > Payment by Schedule.
2. Here, you'll set up your master schedule(s). You can define up to 12 payment dates. While you don't need to complete all 12, loans cannot be scheduled for months without defined dates.

Employer Setup

You can assign a specific payment schedule to an employer or modify an existing one.

1. Go to Employers.
2. Search for your employer.
3. Edit the Employer.
4. Go to the Payback Information tab.
5. Change the Payment Frequency to Schedule.
   • When using the "Schedule" frequency, the Payment Move Direction must be set to "Leave On". Be mindful of holidays and Sundays when defining your schedule dates.
6. Choose a Payment by Schedule from the list and click the Save button.

A new "Payment schedule" tab will now appear on the Employer's profile.

• You can change the dates on this schedule if you have the necessary resource permissions.
• To change the schedule, select the "Change Payment Schedule" checkbox, then choose a schedule from the "Payment by Schedule" dropdown list.

Pay Point Setup

You can apply the same payment schedule to a Pay Point, and the dates can be adjusted independently. Even if an employer's payment frequency isn't set to "Schedule," you can still configure a schedule for the pay point.

• To change the Schedule, select the "Change Payment Schedule" checkbox, then choose a schedule from the "Payment by Schedule" dropdown list.

Loan Product Setup

1. Go to Setups > Loan Related > Loan Products.
2. "Schedule" is a payment frequency option, similar to "Monthly" and "Monthly by Rule." This means you'll need to set up specific loan products for the schedule-frequency.

How to Use Payment by Schedule

Client

The employer's payment schedule will automatically apply to the client when their frequency is changed to "Schedule." If no schedule is set for the employer or pay point, you can select a schedule from the general setup.

1. Go to Client Administration.
2. Search for a Client.
3. Edit Client.
4. Go to the Payback Tab.
5. Set Payment Frequency to "By Schedule".
6. Set Payment Move Direction to "Leave On".
7. Click Save. A new "Payment schedule" tab will appear. The dates on the client's schedule can be changed here.
8. To change the Schedule, select the "Change Payment Schedule" checkbox, then choose a schedule from the "Payment by Schedule" dropdown list.

New Loan

When creating a new loan for a client, the system will use the dates from the client's payment schedule. Ensure that the dates on the client's schedule are updated to match the number of installments for the new loan. The system cannot create a loan if the schedule has insufficient dates.

Batch Updates

You can update payment dates for multiple clients associated with an employer or pay point through a batch process.

1. Go to Employers.
2. Search for your employer.
3. Edit the Employer.
4. Go to the "Payment Schedule" tab.
5. Update the Payment Dates and click Save.
6. Click the "Batch Detail Update" button.
7. Select the "Payment Schedule" checkbox and click the Finish button.

The Payment Dates on the clients' schedules will be updated according to the schedule on the employer/PayPoint.

FAQs and Troubleshooting

Troubleshooting

1. There is a MAXMONEY error

If you encounter errors after enabling this module, double-check all the setups for this module to ensure they are correctly configured.