Creating a Debtor Contribution

Entering Debtor Contributions

A Debtor Contributions schedule sets the expected amount, the frequency, and total to be received. This allows for arrears tracking and management.

Debtor Contributions

Select the Debtor within the Job.

Select Contributions – Add.

Select the Contribution Type as ‘Other Contribution’ and proceed.

Enter in the appropriate details:

• The Gross Amount of Contributions is the total to be repaid in the Debt Agreement over the term of the schedule. For example, a 3 year debt agreement at $300 per week would be $46,800. A payment step up or down would require the creation of multiple schedules to be created.
  • Example: Start A to Finish A with the Total Gross Amount for period, then ‘Add’ a 2^nd schedule, Start B to Finish B, with the Gross Amount the total for Period B. Period A + period B should equal the total Gross Amount of Contributions for the entire Debt Agreement.
• Frequency is the payment to be received or expected per time period (for example Weekly, Fortnight, Monthly).
• First Payment Due is when the first payment under the administration is to be received.
• You can enter the No. of Payments in preference of Last Payment Due to automatically calculate the Last Payment Due. For example weekly payments for 3 years is 156.
• NB 'Create Receivables Schedule' - this option is for fixed invoice creation and only used for Bankruptcy appointments.
  
• Select Ok to complete.

• The Debtor contribution schedule is now created and the Debtors adherence to this schedule will be tracked. When you look at the Contributions tab moving forward it will show a summary.