Invoices - Ability to setup payment plan for customers
When a customer wants to pay off an invoice in regular installments i.e $500 per week. we would like the ability to schedule these payments in, and be notified if the customer misses a scheduled payments
Anna Thomas
shared this idea
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Ashton Howe
commented
PAYMENT PLANS
It's surprising to me that Xero doesn't offer this. We already have invoice reminders, surely it's possible to have customisable payment plans with reminders to clients?
Example; I invoice Don and Cindy for $3500.00. They have to pay a deposit of 30% to secure services, leaving $2450.00 owing. Their event/job is 18 months away, and I want to divide their remaining invoice into 5 equal chunks = $490.00 paid every 3 months, or whatever period is suitable.
The invoices can use the already existing reminder system, but it needs to be expanded and have specific amounts tied to each due date. As someone booking work often 12-20 months ahead of time, features like this are invaluable. It's easier cashflow for me, and the client is happy because their larger invoices are broken into smaller chunks, taking the financial pressure off them.