Account Owners and Admins can create custom payment policies that include an initial deposit and Net terms from their Account Settings. You can learn more about Admin user permissions and how to request them here.
Creating a Payment Policy with a Deposit and Net terms
Navigate to your "Account", click "Policies and Taxes", click "Payment Policy", and then click "Create New".
You can then choose to auto-generate your Payment Policy label based on your selection or uncheck "Auto-Generate Label" to create a Payment Policy label.
Under "Initial Payment", you can choose a percent-based or flat-rate deposit. A percent-based fee is calculated as a percentage of the total amount or value, while a flat fee is a fixed amount regardless of the value or amount involved.
If you don't need to add additional payments, you can skip to the "Final Payment". Select "After Event" and then choose the due date for the remaining balance. The example below shows Net 30, but you can click the drop-down to select another timeline that works best for you.
From there, you can pass the credit/debit card processing fee to your clients or absorb it yourself.
Be sure to check in with your local authorities to confirm that passing on fees to clients is legal in your jurisdiction.
Click "Create Payment Policy" to save this Payment Policy to your account.
Editing a Deposit with Net terms Payment Policy
You can then "Edit" the policy, click "Show Client Preview" to view how it appears in your clients' contracts, or delete the payment policy by clicking the red "🗑️" icon.
How to Preview Deposit with Net terms Payment Policy
Below is an example of what your clients will see on their contracts when you use the "Show Client Preview" option.
How to set a Deposit with Net terms Payment Policy as the Default Payment Policy
You can also set this as the "default" payment policy by clicking the "✪" icon located to the left of the Payment Policy Label (i.e., title). Scroll to the top of the "Payment Policies" section to review this.
How can I create a Deposit with Net terms from a Project?
Navigate to the "Payment Policy" at the bottom left of the project. Click "Change" and then select "New Payment Policy".
You can then create a new payment policy by following the same steps as those listed in the previous section, "How can I create a deposit with Net terms from my Account Settings?" After clicking "Create Payment Policy", you will see the new payment policy listed on the project.
Pro tip: Look to the right side of the payment policy screen to see the payment schedule as you add installments.