What can you do with Payment Plans?
✨ Effortlessly set up recurring instalment payments on a weekly, fortnightly or monthly basis. Let our system handle the maths for you, calculating instalments based on your choices.
💰Tailor payment structures that suit both you and your customers. Choose fixed instalment amounts, set the number of instalments, or roll out subscription plans.
💼 Apply instalment payments at the invoice or customer level, giving you control to optimise your accounts receivables like never before.
📊 Track payment trends, monitor progress, and make informed decisions that drive your business forward via Payment Schedule Reporting.
⏰ Enjoy automated payment allocation* for invoice payments as soon as the balance is collected, saving you time and effort. (*applicable for selected ERPs)
🔄 Swiftly bring a plan back to balance after a payment failure with “Collect Now” functionality.
What are the different Payment Plan Templates?
ezyCollect offers 3 Payment Plan structures by default as follow:
Subscription
set up recurring amount at a customer level with no end date
payments are allocated at a customer level
you will need to manually cancel the subscription plan to stop this
Fixed instalment amounts
Input the total amount to be charged and the instalment amount and let the system calculate the number of instalments for you
can be set up against a customer or invoice level; if within invoice - balance will automatically updated when it payments get auto/manually allocated.
Fixed number of instalments
set the number of instalments against a total amount and the system will calculate for you
can be set up against a customer or invoice level; if within invoice - balance will automatically updated when it payments get auto/manually allocated.
Frequency available and set: Weekly, Fortnightly and Monthly
Payment Plan | Applicable to | Frequency | Instalments | Deposit | Final Payment | Status |
Subscription | Customer ✅ | Set on Application | Not Applicable | Not Applicable | Set on Application | Enabled/Disabled |
Fixed instalment amounts | Customer ✅ | Set on Application | Calculated | Set on Application | Calculated | Enabled/Disabled |
Fixed number of instalments | Customer ✅ | Set on Application | Set on Application | Set on Application | Set on Application | Enabled/Disabled |
How to enable and access the Payment Plan Templates:
⚠️ You will need to contact us at customersuccess@ezycollect.com.au so your ezyCollect customer success manager can enable this for you.
Login to your ezyCollect file.
Manager users will be able to set up the configuration under Payment Settings.
You can choose the when you want to collect the instalments, configure to collect only on business days and choose the holidays calendar accordingly. Once done, click Save.
4. Once this is enabled and you've configured this then under ezyCollect Payments go to Payment Plans to view the default structures or templates available for you.
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