Create installment advancement with interest

Creates an installment advancement for an account. An installment advancement moves one or more future installments to the current cycle.

To advance installments for a specific installment agreement (contract), set the condition field to SINGLE_CONTRACT, and set the transaction_id field to the transaction ID of any of the installments in the installment agreement. Specify the number of installments to advance in the number_of_installments_to_advance field. Installments are advanced starting with the last scheduled installment in the agreement and working backwards from there.

To advance all future installments for all installment agreements in the account, set the condition field to ALL_CONTRACTS. (In this case, the number_of_installments_to_advance field is ignored.)

When you advance installments, you must specify what to do with the interest. You have three options:

• To remove 100% of the interest on the advanced installment(s), set the remove_interest_from_current field to true and the calculator field to NONE.
• To advance 100% of the interest on the advanced installment(s), set remove_interest_from_current to false and set calculator to NONE.
• To recalculate the interest applied to the advanced installments(s), set calculator to PRESENT_VALUE. The remove_interest_from_current field can be set to either true or false. If true, the interest on installments that were already in the current cycle (and did not need to be advanced) is recalculated. Otherwise, interest on those installments is unchanged.

For more information, see Installment advancements.

This endpoint generates an Installment advanced event.