A payment plan is a structured agreement between a buyer and a seller that sets out the terms for paying for goods, services, or a product over time, rather than in a lump sum. This feature supports customisable payment intervals, amounts, and invoicing dates, keeping billing smooth and accurate for one-time payments.

Steps to Add a Payment Plan

Navigate to the Documents and Contracts menu within Payments, and select the templates option from the dropdown.

Open an existing document by clicking its name in the list, or click the +New option to create a template from scratch.

Add a Product List

Drag and drop the Product List element into the builder, then add the relevant products. This step ensures all items contributing to the final cost are captured accurately.

Configure the Payment Plan

From the left drawer, scroll down and select Add Payment Schedule (which will open automatically), or click on Add Payment Schedule within the product list.

The modal window lets you:

  1. Choose whether payment amounts are based on percentages or fixed amounts.
  2. Choose either the signing date of the primary user or a custom date that suits your payment structure.
  3. Set payment intervals based on fixed times after the signing date or specific custom dates. The invoice due date will be the date of the last scheduled payment.
  4. Configure the payment structure based on the amounts you want collected at each interval.

Use the "Add Payment" button to add multiple payment intervals, giving your client more time to complete the purchase.

  1. View the remaining amount. The remaining balance is calculated and displayed automatically under the total amount.

Once you're happy with the setup, click Save. The payment schedule details will appear on the document's last product list.

Enable Auto Payments

You can also activate the auto payment option to ensure automatic deductions for all subsequent payments, simplifying the process for the user.

Following these steps, you can manage payment schedules, configure flexible payment terms, and automate the payment process with ease.

✍️Important Notes

  • For fixed-date payments, subsequent payment dates will adjust according to the primary user's signing date.
  • If a payment is missed, the subsequent dates will automatically shift to accommodate the primary user's signing date.