Related Questions:
How do I create a deposit schedule?
How do I set up recurring payments?
What is a Payment Schedule?
How do I set up a Payment Schedule?
Procedure:
Open the Invoice you are looking to pay
Scroll to the bottom of the Invoice
Select the "Add a Payment Schedule" button
Insert scheduled payment information (payment due dates, dollar/percentage due at each payment date, etc.)
Add more payments (as needed) by pressing the "Add Scheduled Payment" button.
Select Save
Mixed Fixed and Variable Payment Types
You can build a payment schedule that uses both fixed (dollar amount) and variable (percent-based) payments.
An important detail is that the dollar amount for Variable payments is calculated as a percentage of the (Invoice Total - Fixed Payments Total)
A great time to take advantage of this is when you want to specify fixed deposit amounts, and then specify payments based on percentages of the invoice total less deposit amounts.
Payment Validation
We've built validations to ensure your Payment Schedules cannot be saved in a broken state. Percentages must always add up to 100% and will display in red until they do:
A Payment Schedule can only be saved once the Remaining amount is 0.00
If an Invoice amount is updated, the variable amounts will be re-calculated automatically to match the new Invoice Total.
Additional Information:
The client isn't automatically notified of upcoming payments due, however, you can send a client an automated reminder email using Workflows. Keep in mind that it is not linked to the Invoice, so we recommend adding the wording of 'if you have recently paid, please disregard this message'.
The alternative is to set up a reminder task for your team (also possible via Workflows) to check on this X days before the Booking date to follow up with the guest if it hasn't been paid. You're also able to keep track of them internally using the Scheduled Payments Report.
If you're interested in automated Payment Reminders, please upvote on the feature request in our feedback portal and we'll keep you up to date as this feature is developed!