As payment and billing processing occurs, financial components are generated into instruction line items. Instruction line items are created when financial components are processed. Whereas a financial component is a schedule to pay or bill, an instruction line item is an instance of that schedule, i.e. a payment or bill. For example, a financial component indicates that John Smith is to be paid $25 by check on January 1st. On this date, the financial component is processed into a financial instruction line item. Information carried over from the financial component includes the nominee, the delivery pattern, the amount, and the period of time the payment or bill covers. Where a financial component is a schedule, an instruction line item is the actualization of that schedule.
Financial instruction line items are rolled up into financial instructions. These financial instructions can be generated into payments or bills for nominees. For example, an instruction line item of $100 a month is created for each month over a three month period. These instruction line items can be rolled up into one payment instruction for $300. The $300 is then paid into the nominee's bank account.
For more information, see the Cúram Financials Guide.