Split Payments, Scheduled Payments, and Auto-Billing
Scheduling payments in Paycove allows you to split the total invoice amount into separate payments for a customer to pay at a chosen time. This can be useful when accepting down payments or following payment plans for larger purchases.
Scheduling Payments on an Individual Quote/Invoice
On the details of a specific quote or invoice, there is a button in the upper right corner to schedule payments.
This will allow you to split the total amount into multiple payments and assign each payment a due date. You can add as many payments as you’d like, however, the sum of the scheduled payments must equal the invoice value. The overview section on the top of the page will help you make sure your payments are adding up to the correct total. By choosing to add unpaid payments, you can create partial payments that will not auto-charge.
Don’t forget to Save Payments at the bottom of the screen when you’re done.
For recurring payments, your customer must enter their credit card information for the first payment. Once that first payment goes through, their payment information will be stored for future auto-billed payments. To change a credit card, your customer can either enter their new information by making a new payment on Paycove, or you can enter it on your payment gateway. Auto-payments are charged at 3pm CST. At the time of each auto payment, your customer will receive an email notification.
Scheduling Payments for Multiple Quotes/Invoices
In addition to scheduling payments for a specific invoice, you can set scheduled payments on a template. If you set scheduled payments on a template, any deal that is sent to Paycove using that template will automatically split up the payments. Creating a template with scheduled payments is an efficient way to apply the same payment schedule to multiple deals.
Within the template editor, you can see the option to schedule payments on the right side.
Payments can be scheduled as a percentage of the deal’s total. You can choose to have payments auto-bill and to give customers the option to pay their invoices online.