Account Owners and Admins can create Monthly Payment Schedules within their Account Settings. You can learn more about Admin user permissions and how to request them here.
Creating a Monthly Payment Policy
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.
After setting up your label and Initial Payment, toggle "On" the option to "Require additional payments before final payment is due." Then select "Equal Installments".
Next, set the "Frequency" of each payment to "Monthly", select the due date for each payment and when you want those payments to start.
Next, choose a Final Payment. You can select a final payment due "Prior to Event", on the "Day Of", or Net Terms for the final payment. 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 Monthly 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 the Terms of a Monthly 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 Monthly 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.
Note: This default will only apply to projects created moving forward. It will not adjust the default on existing projects.
Want to change the Payment Policy on just a particular project? Click here.
How can I create a Monthly Payment Schedule 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 Monthly Payment Schedule from my Account Settings?" After clicking "Create Payment Policy", you will see the new payment policy listed on the project.
