Payment Plans > Behind the Scene Solutions

Payment Plans

Visual for payment plans and scheduled payments

Create payment options. This one has 9 total payments, one downpayment or pay now amount and 8 period payments. The period payments are once per month starting on a fixed date of Sept 1, 2020. It has interest and a processing fee added. Use the help screen and tutorial video to step you through the process.
Accounting department can create as many payment options as required. To create payment options a user must be assigned the payments controller security role.
Change the invoice payment terms to payment plan. Then create a new payment plan. This invoice total is 10k.
Select the payment option. This invoice total of 10k will be broken down into smaller payments. The payment option selected requires $1000 down, 12% annual interest, $5.00 processing fee on period payments only, payments recur once per month for 8 months starting on Sept 1, 2020.
Review amounts with client to find a plan that fits their budget. This plan has a $1000 downpayment and 8 period payments, once per month of $1181.21 starting Sept 1, 2020. The 10k invoice has been broken down with some additional fees.
Create the scheduled payments for the plan.

Create payment options to offer your clients, make it easier for them to buy more.
Plans can include interest and/or a processing fees.
Plan start dates can be a specific date, X days from invoice date or X days from today;s date.
Plans can have “pay now” or downpayment amount.
Payment frequency can be based on years, months, weeks or days: Ex: 1 per month, 2 per month, 2 per year, every 15 days.
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