How does the payment scheduler work?

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Payment scheduler is an add on feature which is used for long term rentals to schedule the payments that are to be collected from customers on an interval basis. All the scheduled payments will be reminded if the customer failed to make the payments.

In order to have this function in your account, Contact to enable and get to know about this feature. After enabling the feature, follow the steps below to schedule the payments in the account.

1. Select the agreement to which you want to schedule payments.

2. Click on the “Payment” icon.

3. Click on the “Payment Scheduler” button.

4. Click on the “Add New Payment Schedule” button.

5. Enter the details for the required  fields.

  1. The total rental fee will be pulled in automatically
  2. Start date (Enter the starting date of the payment schedule)
  3. Payment ends (There are two options in order to set this field.
    1. “End Date” – Giving an end date to when the schedule should end.
    2. “# of terms” – Based on the number entered the rental fee will be divided and split into payments automatically.)
  4. Schedule every – This field is to determine the interval in between the payments. User should enter the period interval in the first field and should select the range from the drop box.)
  5. Rental fee – This field is to set the amount of the rental fee that needs to be collected for each interval that the payment has been scheduled.

6. Click on “Generate”

7. Once the payment is generated it will display as follow;

Column Description

Billing period – It refers to the date range for the payment scheduled.

Due date – The Due date for the specific schedule.

Rental fee -The amount which needs to be paid

Status – Current status of the scheduled payment.

# of days delayed – The number of days delayed from the due date for that payment.

Date of payment – The date payment had been made.

Amount paid – The amount that had been collected from the customer.

Write off – The amount that has been written off.

Credit note – If you have waived off an amount it will display in the credit note.

Promotion – If a discount has been applied it will display here.

Notes – Reference notes saved by the user.

With these explanations, you may find the icons in this screen as follows.

1. Add notes

This icon will be used to add reference notes to the payment.
To add new notes to this section, click on the icon. That will let you add the notes.

And click on “Confirm”

2. Promotion

This icon will be used to apply promotions to the payment scheduler.
To add a new promotion, click on this icon.

Date (Date the promotion is created.
Invoices (Select the invoice for the particular due. This is not a mandatory field.)
Rental fee (The amount for the particular promotion.)

After entering the details, click on “Save”

3. Pay

This icon will be used to record the payment from the customer.
To record the payment, click on this icon.

Enter the fields,
Date (The date payment received)
Invoices (Select the invoice for the particular due. This is not a mandatory field)
Rental fee (The amount paid)

4. Skip

This icon will be used to skip a particular payment scheduled.
If you want to skip a particular payment, click on this icon.

Click on “Yes” to confirm the action.

5. Grace

This icon will be used to record the grace that is to give a delay in the payment. Once you have graced a payment it will generate another payment record for the graced amount.

If you want to make a grace on a particular due, click on this icon

And click on “Yes” to confirm the action.

6. Edit

This icon will be used to edit the details on a particular payment.
If you want to make changes in a particular, click on this icon.

Due date and the rental fee for the specific payment can be edited. “Confirm” to make the changes.

7. Delete

This icon will be used to delete a particular payment.
If you want to delete a payment from the system, click on this icon.

And click on “Yes” to delete the due.

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