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Deferral Vs Promise to Pay

My Clients give facility to customer to pay some of their old debt in future, to provide this facility we are considering whether to populate deferral date in the document or provide promise to pay functionality

we already have implemented Installment plan and clients want to have more than one functionality

so please advice which one is best practise whether deferral or promise to pay?

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1 Answer

  • Best Answer
    Jul 25, 2012 at 01:05 AM

    Vinod:

    best practice is not applicable here. Either (or both) functionality might be used - depending on the customer requirements. 

    There are significant differences between the deferral, P2P and with IP as well as dunning locks - the usefulness will depend on what needs to happen.  A P2P and and IP create documents.  A P2P can be created at BP level and can be created for BP other than the BP on the source documents.  IP can be used by invoicing and due date synchronization.  Dunning lock and deferral create no new documents.  All of them can take the customer out of the collections process for a period of time.

    regards,

    bill.

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