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

Steps to Add a Payment Plan #

Navigate to the Documents & 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 is crucial to ensure that all items contributing to the final cost are accurately captured.

Configure the Payment Plan #

From the left drawer, scroll down and select Add Payment Schedule (which opens automatically) or click Add Payment Schedule within the product list. The modal window appears, allowing you to:

• Choose whether the payment amounts will be based on percentages or fixed amounts.
• Choose either the signing date of the primary user or a custom date that fits your payment structure.
• 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.
• Configure the payment structure based on the amounts you wish to be paid at each interval.
• Use the Add Payment button to add multiple payment intervals, giving your client more time to complete the purchase.
• View the remaining amount. The remaining balance is automatically calculated and displayed under the total amount.

Once you have finalized the setup, click Save. The payment schedule details appear on the document’s last product list.

Enable Auto Payments #

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

By following these steps, you can efficiently manage payment schedules, configure flexible payment terms, and automate the payment process, enhancing both user experience and administrative efficiency.

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.

Frequently Asked Questions #

What is a payment plan in Documents & Contracts? #

It is a structured agreement that lets a client pay for goods, services, or a product over time in scheduled intervals rather than a single lump sum.

Where do I set up a payment plan? #

Go to Documents & Contracts > Templates in Payments, open or create a template, add a Product List, and then use Add Payment Schedule to configure the plan.

Can I split payments by percentage or fixed amount? #

Yes. In the payment schedule modal, you can choose whether each payment amount is based on a percentage of the total or a fixed amount.

How are payment dates determined? #

You can base intervals on the primary user’s signing date or set specific custom dates. The invoice due date is the date of the last scheduled payment.

What happens if a client misses a payment? #

For fixed-date payments, the subsequent payment dates automatically shift to accommodate the primary user’s signing date if a payment is missed.

Can subsequent payments be charged automatically? #

Yes. Enabling the auto payment option ensures automatic deductions for all subsequent payments, simplifying the process for the client.