Upfront Payment Options and Payment Terms provide the power to collect the money needed upfront while offering flexibility to registrants in collecting the balance at a later date without manually setting up an individualized plan.
When creating a sale item, you set the price and how much is due upfront. There are three options:
Full Price Due Up Front
Partial Amount Due Up Front
Nothing Due Up Front
When setting up the conditions for a sale, set the payment terms to be applied to each sale. You may select up to three different terms as options for a sale. Payment terms define:
the number of installments,
the percentage due per installment, and
the amount of time between installments.
Based on the date a sale occurs and the items included in the sale, the upfront payment option and payment term settings are chosen to work together to stamp out an individualized payment plan for the sale.
Example: Order 1
-Order was placed on February 18th.
Item A: $100 ($40 due upfront)
Item B: $10 ($10/full price due upfront)
Item C: $500 ($0 due upfront)
Total: $610 ($50 due upfront)
Order Payment Plan
-Upfront payment due at checkout: $50
Installment 1 due March 1st: $140
Installment 2 due April 1st: $140
Installment 3 due May 1st: $140
Installment 4 due June 1st: $140
Example: Order 2
-Order placed on March 2nd.
Item C: $500 ($0 due upfront)
Total: $500 ($0 due upfront)
Order Payment Plan
Installment 1 due April 1st: $125
Installment 2 due May 1st: $125
Installment 3 due June 1st: $125
Installment 4 due July 1st: $125
Customers are always given the option to pay the entire balance in full at checkout.