Payment plans allow to spread payments across multiple installments. They help balance the company’s cash flow while providing a flexible solution for clients. With Fact, setting up payment plans is simple and efficient.
Activating Payment Plans
Access Settings menu and select General.
Click on the Payment tab.
Add Payment Plan to the list of accepted payment terms.
Click the Save button to confirm.
Associate and Create a payment plan for an invoice
During the creation or modification of an invoice:
In the Due Date field, select Payment Plan.
Once the invoice is produced, click on Payments in the right-hand sidebar.
Choose a method to create the payment plan.
Option 1: Automatically generate a payment Plan
Enter the Start Date (first installment date) and the Number of Payments.
Click the Calculate button to generate the payment plan installments.
Adjust the installments as needed by modifying the dates, amounts, or by adding/removing lines.
Click Save to confirm.
Option 2: Manually create installments
Add one installment at a time by specifying its date and amount.
Repeat the process for each desired installment until the total matches the invoice amount.
Once configured, the payment plan will appear in the Payments section of the invoice.
Record a Payment linked to a payment plan
When a client makes a payment, it can be recorded directly in the payment plan associated with the invoice:
Open the relevant invoice.
Click on the Payments button at the top right. The payment plan installments will be displayed.
Select the appropriate installment by clicking on the blue card icon to the right.
Complete the payment form (payment method, date, etc.).
Click Save to validate.
The installment will then appear as paid.
For more details on managing payments, see our article: Recording a payment on an Invoice.