Overview:
We are thrilled to introduce the ability to add Payment plans to invoices.
What’s New?
- Connectly users can now divide their invoices into payment plan installments.
- A division can be made either on a Percentage basis or an amount basis.
- Every division comes with a Due Date and Payment Status of that part. Notifications will be sent on the due date of each part, reminding the user to pay their installment (if it hasn’t already been paid).
- Payments can only be made in a predefined division, and users can opt to pay one or more installments at once. An Invoice will be marked as paid once all installments have been settled.
How to use?
- Click on ‘add payment schedule’ in an invoice.
- Establish the payment terms with either a percentage or a fixed amount, then send it.
- Users will then see the invoice, complete with the ability to view the plan on the invoice.
- Users then have the option to pay the invoice and either select that payment schedule value, or include added schedules – they can do this by clicking on a checkbox.
Why this feature?
This feature addresses a significant need: For medium to large ticket invoices, we’ve often received requests from users wanting to pay their invoices in installments. While we already have the Partial payment option that allows the payer of the invoice to control when they want to pay which amount, this feature puts control in the hands of the Payee of the invoice over how much the Invoice should be paid in each installment.