How to Set Up Flexible Payment Plans in Invoices

We are excited to announce the capability to add Payment plans to invoices!

What's New?

• Users can now split their invoices into payment plan installments.
• A split can be made both on a percentage basis as well as on an amount basis.
• Each split includes a Due Date and Payment Status. Notifications will be sent on the split's due date to remind users to pay their installment (if not already paid).
• Payments can be made only in the predefined split, and users can choose to pay one or more installments at a time. An invoice will be marked as paid once all installments are complete.

How to Use?

1. Click on "Add Payment Schedule" in an invoice.
2. Set up the payment terms with a percentage or fixed amount and send it.
3. Users will view the invoice with the ability to see the payment plan details.
4. Users can then pay the invoice and have the option to select a payment schedule value or add other schedules by checking a box.

Why This Feature?

We’re addressing a significant use case: for medium- to large-ticket invoices, users often request the ability to pay in installments. While we already offer partial payments, which allow the invoice payer to control the amount and timing of payments, this new feature gives control to the invoice payee to define the installment structure for the invoice payments.