Introducing Payment Schedules for Estimates
We’re excited to announce a new feature that brings flexibility and ease to your payment processes. You can now create installment plans on your Estimates, allowing you to collect deposits and manage payments more efficiently. Here’s a breakdown of what you can do with this new feature:
Key Features
- Installment Plans: Split the total estimate into multiple payments, helping you collect deposits directly on the invoice created post-acceptance.
- Customizable Schedules: Choose between percentage-based or fixed-amount installment schedules.
- First Payment Configuration: Set the first payment to occur either upon estimate acceptance or on a custom date.
- Subsequent Payment Scheduling: Configure future payments at regular intervals or on custom dates to suit your needs.
- Payment Previews: Before finalizing, preview how each installment will appear on the Estimate PDF.
- Automated Invoicing: Once an estimate is accepted, automatically send an invoice with direct-pay enabled, simplifying the payment process.
How to Use the Payment Schedule Feature
- Create or Open an Estimate
- Add a Payment Schedule
- Under the “Amount Due” section, click on “Add Payment Schedule.”
- Select Your Schedule Type
- Choose between a percentage (e.g., 33% x 3 installments) or a fixed amount (e.g., $500 x 4 installments).
- Configure First Payment
- Decide if the payment is due upon estimate acceptance or on a custom date.
- Set Subsequent Payments
- Set payments to recur at regular intervals, like monthly, or on specific chosen dates.
- Attach and Send
- Add the schedule by clicking “Add Schedule” to attach it to your Estimate.
- Activate Direct Payments
- In the “Additional Options” section, check “Send Invoice” and toggle “Enable Direct Payments” to ensure an invoice is triggered automatically upon acceptance.
- Finalize the Estimate
- Save and send your Estimate. Customers will see a detailed breakdown of each installment and can accept and pay online.
Why This Feature Matters
This enhancement allows your business to offer flexible payment plans, such as a 30% deposit followed by two equal monthly installments. It’s ideal for various service providers like plumbers, cleaners, landscapers, and more. By incorporating payment schedules in Estimates, you can improve cash flow through automated installment invoicing.
Explore more ways to optimize your workflow by checking our previous release on Activity Section Upgrade Enhances Contact Management.
Stay tuned for more updates and improvements designed to enhance your business operations.
