Read the amount, date and remaining balance for each payment. Identify any final payment that differs from the rest.
What to check
- Complete schedule and the agreement's payment rules
Use the written quote to separate cash received, scheduled payments and charges outside those payments. Keep a calculation with each quote.
A decision to avoid
Assuming the final instalment is identical without checking.
A calculation you can check
Illustration only: cash received R2 000; three payments of R750; a separate required charge of R50. Total paid = 3 × R750 + R50 = R2 300. Difference from cash received = R2 300 − R2 000 = R300. This difference is not an annual interest rate. Include the charge only if it is outside the three payments; do not count it twice.
Questions about this decision
What should I check first?
Read the amount, date and remaining balance for each payment. Identify any final payment that differs from the rest.
Which information do I need for this decision?
Complete schedule and the agreement's payment rules.
Which mistake should I avoid here?
Assuming the final instalment is identical without checking.
When should I review this decision?
Review it when the amount, date or condition you used changes. Keep the previous version so you can identify what changed.
How do I check complete schedule and the agreement's payment rules?
Locate the actual dated record for Complete schedule and the agreement's payment rules. Compare it with the other records in this checklist; ask the organisation responsible for any unexplained difference.
What should I do if a required detail is missing?
Mark it as unresolved. Ask for that precise detail before choosing; do not substitute an advertised example for your own document.
What is the next practical step?
Use the written quote to separate cash received, scheduled payments and charges outside those payments. Keep a calculation with each quote.
How can I verify the explanation?
Use the documents listed above. Check quoted amounts and dates in the original record; use the official reference links for the organisation’s guidance.
