Payment installments make it convenient for clients to pay off invoices in smaller amounts over time and create a recurring revenue stream for you. Setting up installments on an invoice allows you to collect payments at customizable intervals.
Installments can be a set amount (say, $250 each) or a percentage of the total (for example, four equal payments -- 25% of the total), and each has its own due date.
Using the Installment tab within the invoice, you can easily track client payments and due dates.
Clients have through the end of the due date to make an installment payment before it is deemed overdue (11:59:59 pm on the due date in the studio's time zone).
You make changes to existing invoice installments by clicking the Edit Invoice button. Once a client has made an invoice payment, you are no longer able to make changes to your installments.
Set Up Installments
1. Go to Studio > Invoices
2. Create a new invoice or click on an existing invoice and select Edit Invoice button
3. Click on the Payment Schedule tab on the left side of the page
4. Toggle on Payment Schedule
4. Select the number of installments from the drop-down menu
- The system automatically distributes payments and installment dates evenly over the number of installments you’ve selected
- Edit the installment amounts by choosing a fixed amount or a percentage amount
- You can also edit the installment due dates
5. Add an optional pre-payment by checking the Mark as Pre-Payment box
- Choose between the Non-Refundable Payment, Deposit, or Retainer label
- The pre-payment shows as the first installment
6. Click Save Invoice in the top right when you're done