Payment Plans should be self explanatory for ease and quick reference, as they determine how the invoice is created.
Each Payment Plan created must have a Code and a Description, where the below parameters can then be selected:
- Frequency – Days/Months and the Value
- Starting – Arrival/Current or Departure for the invoice to be created
- Handling Mode – In advance or arrears of the booking
- User Defined – for the user to decide each time
- Invoice Title - If you wish to have specific text only the invoice (will ignore tagged text in Group settings)
- Whole Stay – from the arrival to the departure date, 1 invoice with 1 line within the invoice to be created
- Every – Day/Month – this will create an invoice with a line being created depending on the choice, by number of days or months specified
- Every Month – will create an invoice each month
- Defined Days - Ability to set specific number of days for each Invoice - any days not specified at the end will be one invoice on generation
- Defined Dates - Ability to set specific date periods for Invoices, usually used for Term times
Examples of common setups -
Monthly (Monthly Invoice in Arrears)
Which would be configured to a ‘Months’ frequency, starting on the arrival and have a handling ‘in arrears set’ from the 1st of the Month.
This will apply to an account where their credit agreement states the invoice must be sent on the 1st of the month after arrival. When creating the invoice set the First Invoice Date to the 1st of the month after arrival and the frequency setting of every month will then mean the correct invoice set is applied to the reservation.
Payment in full – no credit: This will apply to most ‘P’ accounts (i.e. a person paying for the booking) and to some ‘C’ accounts (i.e. a company with no credit agreement). Payment is required at the time of booking in full by credit/debit card or BACS transfer, if there is sufficient time.
Payment in Full 14 Days after Check in: This may apply to ‘P’ or ‘C’ Accounts where they pay a deposit and then pay in full 14 days in arrears of Check IN. Payment Date can be set manually when generating the invoice.
Monthly invoice in Advance - choose 1st of month of arrival: This could apply to a ‘C’ account where their credit agreement states the invoice must be sent on the 1st of the arrival month. When creating the invoice set the First Invoice Date to the 1st of the month of arrival, for the correct invoice schedule to be created.
Payment on departure – This could apply to specific ‘P’ or ‘C’ accounts where you have agreed to take payment on departure.