Give your client more freedom to set up their own payment plan or to pay the invoice in full with one payment. This will give your client the flexibility to make a payment plan that fits their own financial plan.
By giving them the option upfront right on the invoice, you can avoid any back and forth and get your first payment right away.You’ll configure the options your client can choose from, then they’ll choose what works best from them from those options.
Let your client pick their own payment plan
When you set up your invoice, you can choose to let your client have control over their own payment plan.
1. Start creating an invoice (or find the invoice template you want to edit).
2. Under Payment plan, select Client selects plan.
3. Choose whether the first payment is due on the invoice date (when the client receives the invoice) or on a custom date.
a. If the client decides to split the invoice up into payments, those payments will be due each month on the day of the month used for the first payment due date.
For example, if a client chooses to make 3 payments, the invoice date is used, and the client receives the invoice on March 15th, their first payment will be due on March 15th, their second payment will be due April 15th, and their third payment will be due May 15th.
4. Select the number of Maximum payments the client can split the invoice into.
5. Toggle whether you want to let the client pay the invoice in full with one payment.
a. If you do toggle this on, you can also set up a discount for paying the invoice in full with one payment.
📣 Note
You can adjust the rest of your client’s upcoming payments via the payment plan on the invoice page at any time, However, if you make any changes to the file after your client has made a payment, they’ll automatically get a notification that the file was updated.
As long as your client hasn’t made a payment on the invoice, you can change the above settings, or even change the payment plan to a preset plan that you set up yourself—you should still notify your client that you’re making a change, however.
What a client sees when deciding on their payment plan
If you're letting your client pick their own payment plan, they will have a few choices to make before making their first payment.
You can also see this experience for yourself if you select Preview when editing the invoice template.
1. Your client will receive the invoice and open it.
2. They’ll then choose their payment plan.
3. If they select Split payment, they can pick the minimum and maximum amount of payments they’ll make. These payments are all due monthly based on either the invoice date or a custom date (whichever you chose before sending the invoice).
a. If they select Pay in full, the full amount of the invoice will be due.
4. Once they select their payment plan, they can fill in their payment details. The amount due will be the total invoice amount due divided by the number of payments they selected.
a. Future payments are due monthly.
FAQs
What happens if I offered a discount on paying the full amount up front, and an additional discount?
What happens if I offered a discount on paying the full amount up front, and an additional discount?
If you add a discount to the invoice and have a pay-in-full discount, the manual discount will be calculated first, and the pay-in-full discount will be calculated using the new invoice amount.
For example, If you have an invoice for $5,000, manually add a discount for 10%, and have a pay-in-full discount of 10%.
The manually added discount will deduct $500 (10% of $5,000)
The pay-in-full discount will deduct $450 (10% of $4,500)
Your client will pay $4,050
What happens to my contract when my client chooses their own payment plan?
What happens to my contract when my client chooses their own payment plan?
You can use a payment recap smart field to feature the payment plan. This will automatically update to whatever your client chooses for their payment plan.
Can clients pick on their payment plans for lead forms too? Or can they only choose their payment plans for smart files?
Can clients pick on their payment plans for lead forms too? Or can they only choose their payment plans for smart files?
Right now, you can only let your client decide on their payment plans for smart files that include an invoice. Lead forms that include an invoice can't currently allow your clients to pick their own payment plans.
Still have questions? Feel free to send us a message by clicking the Question Mark icon on any HoneyBook page. Our team is always happy to help!