Returning Incoming Payments
There are cases when you need to return the payment back to the payer. For example, when you cannot allocate the amount because the payment details are missing - such as providing the correct unique identifier for the installment or the number of the policy. Yet another example is when you cannot allocate the whole amount of the incoming payment and need to return the rest.
The return of the Unallocated Payments can be handled automatically: the FTOS_PYMT_Payment_ReturnUnallocatedAmount job creates payment return instructions for all the payments which are in Unallocated status for a number of days, that you can configure. For more details, consult the Flow Parameters and Scheduled Jobs page.
However, Partially Allocated Payments can be managed only manually.
The fastest way to manually initiate a payment return is to use the Return button, next to the selected record. This action triggers the filling in of the corresponding payment request, that is subsequently sent to the outgoing payment approval flow.
Below is an example of the Unallocated Payments List page, with the Return button available next to incoming payment records.
The solution does not allow you to return payments that are in Closed status (in other words, payments that were fully allocated, already). Consequently, you can only make returns for payments in Unallocated or Partially Allocated status.
Returning An Incoming Payment
The below instructions apply for returning Unallocated as well as Partially Allocated payments.
For returning payments, take the following steps:
1. Find Your Record And Launch The Return Flow
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At the top left corner of your FintechOS Portal, click the main menu icon to open the main dropdown list.
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From the main list, click Billing and Collection. A second dropdown opens.
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Next, click Unallocated Payments to go to the Unallocated Payments List.
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Inside the Unallocated Payments List page, use the search functionality to find the desired payment record.
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Double click the record to open it. OR click the Return button next to it, right away. (If you choose to do so, jump directly to the Fill in the Return Details step, below.)
Below is an example of the Unallocated Payments List page, with the Return button available next to incoming payment records.
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Once the record is opened, inside the header section, locate the Return button and click it.
Below is an example of a payment record in Partially Allocated status, with Return button.
Proceed to the next step.
2. Fill In The Return Details
When you press Return inside any unallocated payment record, you create a request for payment, in Draft status which is automatically displayed at the bottom of the form, inside the Outgoing Payments section.
Below, you can see the bottom section of a payment record with one outgoing payment request in Draft status.
Inside your selected record, scroll down to the Outgoing Payments section and double-click on the Draft request to open it. Once opened, you can see all the details of the Draft request that the system automatically fills in - into the Payment Request, Payment Beneficiary, and Payer Details sections. These details are not editable. For more details, see the form described in the Outgoing Payment Requests page.
Proceed to fill in the mandatory details into the following editable fields:
| Field Name |
Description |
|---|---|
| Payment Due Date | The payment due date. |
| Scheduled Date | The payment scheduled date. |
| Beneficiary Type | Set the payment beneficiary type. The option set values are as follows: Payer, Insured, Contractor , Policy Beneficiary, Broker, Service Provider, and Other. |
| Beneficiary Category | Set the beneficiary category. The option set values are as follows: Other, Individual Person, and Legal Person. |
| Name | The name of the payment beneficiary. |
| IBAN | The IBAN of the beneficiary. |
| Comments | Insert details relevant for the user that is going to approve your request for payment. |
Proceed to the next step.
3. Submit Your Return Request To Approval
Once finished, press the Propose Payment Return button, at the bottom of the form, to submit the request to the outgoing payments flow.
After pressing Propose Payment Return, you can see, at the top left of your screen, that your record is in Proposed status.
If you press Save and close before pressing the Propose Payment Return button, the record is saved in Draft status and you can come back at it, at a later date.
The next step of this flow is the Approval of the request. If you have the necessary security role to do the approval, you can continue with the Outgoing Payment Request approval flow. If so, consult the Outgoing Payment Requests page for more details about approval. If not so, you can leave the record as such, namely in Proposed status.
Click Save & Close at the top right of your screen.
You can easily find your Draft payment request in the Payments Request List page, at a later date. If needed, use the Search by Status option to find your record.