Beginning with version 5.2.142 of RTO Pro there is a new option for handling partial payments.
In Store Setup under the Store Setup tab the option is "For partial payments move due date the full term and track Back Rent Due". If this option is checked and a partial payment is paid the due date would be moved the full term (week, month) and the balance of the payment would show up as "Back Rent Due" the next time you pull up the customer on the payment screen.
If on the next payment the customer pays the regular payment amount plus the back rent due the contract would be back to normal. If they pay less the following would occur depending on how much they pay.
1. If they pay an amount equal to the back rent due: Due date would not be changed and back rent due would now = 0
2. If they pay an amount less than back rent due: Due date would not be changed and back rent due would be reduced by the amount paid.
3. If they pay an amount greater than back rent due but less then back rent due plus normal payment: Due date would be advanced the full term and back rent due would be adjusted accordingly, an example of this is below:
If normal payment is $10.00 and back rent due is $5.00
If they pay $6.00: due date would be advanced and back rent due would now = $9.00
If they pay $12.00: due date would be advanced and the back rent due would = $3.00
Back rent due does not affect the contract balance, the contract balance is the contract amount - amount paid. Back rent due does affect the payoff amount as a discount is not given on any back rent due. Back rent due can be edited in Contract Maintenance (Point of Sale menu option 3).
This option can be password protected in Security (Setup menu option 5). When it is password protected there will be a button on the payment screen to enable this way of handling partial payments. If it is not password protected and this option is checked in Store Setup all partial payments will be handled as described here.
Note: This option only affects the following contract types: Rent to Own, Rent to Rent, Lease (except federal lease), G as agent type, O other type and B club only agreements.