A payment schedule is not the same as a custom invoice schedule on a quote. A custom invoice schedule decides when invoices are created for a one-off charge. A payment schedule takes one invoice that has already been issued and decides how its balance is paid.
When an invoice can be put on a schedule
Set up Payment Schedule is in an invoice’s actions menu when all of these are true:- The invoice is issued or overdue.
- The invoice has an outstanding balance.
- The invoice is native to Alguna. Invoices managed in an external invoicing system cannot be put on a schedule.
- The invoice is not already on a schedule.
Set up a payment schedule
- Go to Invoices and open the invoice.
- In the invoice’s actions menu, choose Set up Payment Schedule.
- Fill in the form:
- Click Create schedule.
How the instalments are calculated
- The schedule covers the invoice’s outstanding balance when you create it.
- The balance is split into equal instalments. Any rounding remainder goes on the first instalment. For example, 1,000.00 over 3 instalments is 333.34, 333.33 and 333.33.
- The first instalment is due on the day you create the schedule. Each later instalment is due one interval after the previous one. With Monthly, that is the same day of each following month.
- All instalments together always add up to the covered balance.
Track a schedule
When an invoice is on a schedule, its sidebar shows a Payment Schedule section. It shows the schedule’s status, how many instalments have been collected, and a progress bar. Click View schedule to open the details. They list each instalment with its number, due date, amount and status.
A schedule is Active while instalments remain. It becomes Completed when every instalment is collected. A cancelled schedule shows as Cancelled.
Collect instalments
How you collect an instalment depends on the collection method chosen at set-up. Instalments are collected while the schedule is active.Auto-charge
Each pending instalment has a Charge now button in the schedule details. It charges the instalment amount to the schedule’s payment method through your payment processor. When the charge succeeds, the instalment is marked Collected and the payment is applied to the invoice. If the customer’s saved payment method is replaced by a new one, live schedules move to the replacement.Offline
Each pending instalment has a Record received button. Use it when the customer paid outside Alguna, for example by bank transfer or cheque. In the Record instalment payment dialog:- Set the Paid Date. It cannot be in the future.
- Select the payment method the customer used.
- Click Record.
Effect on the invoice
Each collected instalment is a payment against the invoice, so the invoice’s amount paid and amount remaining update as instalments are collected. The invoice is paid when the last instalment is collected. Payments from instalments show with the invoice’s other payments.Cancel a schedule
Open the schedule details and click Cancel schedule. When a schedule is cancelled:- Instalments already collected stay applied to the invoice.
- Remaining instalments are not collected.
- The invoice is released from the schedule and keeps its remaining balance. Collect it as you would any other invoice, for example with Collect Payment or Mark as Paid.
Related
- A customer with a payment schedule cannot be merged into another customer. See Duplicate customers.
Invoicing customers
Delivery, AutoPay, payment methods and recording payments.
Payments
Payment statuses and how payments are applied to invoices.
Dunning
Recover failed payments automatically.
Collections
Reminders and follow-up on overdue invoices.