Creating and Using Payment Plans

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:

First Invoice

• 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) 

Frequency

• 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 1^st of the Month.

This will apply to an account where their credit agreement states the invoice must be sent on the 1^st of the month after arrival.  When creating the invoice set the First Invoice Date to the 1^st 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 1^st of the arrival month.  When creating the invoice set the First Invoice Date to the 1^st 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.