Why is my installment payment not calculating correctly?

Derrell Wright

If you've set up an installment payment and are noticing that the payment value is off by a few cents, don't fret- this is by design. For any installment gift that cannot be evenly divided the initial payment will always include the additional cents that are required to acheive the correct value.

For example, if you have a $1000 payment split out over 12 months, the installments will be $83.33.  But 12 payments of $83.33 only totals $999.96, so the system automatically increases the initial payment by the additional 4 cents required to make the total payments equal $1000.

When you proceed to the next step of the installment setup you'll see that additional payments will be processed for the correct value.