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You can create a payment plan on any invoice in Spectra. The Payment Plan feature allows you to create pending payment records to be processed at a future date. You can create a single pending payment or a series of pending payments based on a set payment schedule. Once created, pending payments can be processed manually or as a batch.
To manually create a new pending payment, open the Invoice you want to schedule the payment for.
In the New group on the ribbon, click Payment or Refund.
On the New
Payment screen, check the
Future Payment checkbox to
schedule this payment for a future date.
The Payment Date will be blanked out and you can enter a Due Date and Payment Amount for this pending payment.
You can choose to enter a Payment Method to be used when processing this payment. Or you can leave this field blank, allowing Spectra to use the client's saved payment methods when processing this payment (see the section below on Setting up Payment Methods).
Save and Close the payment.
This pending payment will now appear on the Order Detail tab of the invoice as a Pending Payment, and the Total Pending Payments field on the invoice will reflect the total amount of pending payments the customer has on this invoice.
A payment plan is a series of pending payments for a single invoice that are created based on a set payment schedule. To create a payment plan:
Open invoice you wish to create a payment plan for.
In the New group on the ribbon, click Payment Plan. The Payment Plan window will open.
Payment Plan
Under Frequency, set the schedule for the payments, Weekly, Bi-Weekly (every other week), or Monthly.
If you select Monthly, also choose the day of the month.
If you select Weekly or Bi-Weekly, also set the Next Payment Date, which indicates the start date of the payment plan.
Enter the Number of Payments and the payment amount will be updated to indicate the amount of each payment. Note: The final payment will correct for any rounding so the invoice will be paid in full.
Click OK.
You will now see the pending payments on the Order Detail tab of the invoice.
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HERE'S A FLASH FOR YOU!
Pending payments and payment plans will be excluded from your Payment and Accounts Receivable Aging reports, the Today's Snapshot panel, and the Make a Deposit Posting tool. Pending payments will print on the invoice, and you can see a list of pending payments from Reports > Lists and Labels > Pending Payments Report. |
Using the payment plans feature requires that you set up payment methods for your clients. Payment methods can be saved on the client's file for future use.
Open a Client, Session, Invoice, or Payment record and then click the Spectra menu button and choose Payment Methods.
Client Payment Methods
Click Add to add a new method. In the Payment Method drop-down list you will get a list of any credit cards that this customer has used in the past.
Select the Payment Method and complete the payment information. Note: Non-credit card payment methods can be selected but will not automatically be charged during the payment processing routine.
Select if the Payment Method should be the Primary or Secondary method. This will be used when automatically processing payments.
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HERE'S A FLASH FOR YOU!
In versions of Spectra prior to Spectra 2008, the Payment Method combo box on a Payment record displayed a list of all the prior credit cards used by the client. Starting in Spectra 2008, only those Payment Methods that have been set up on this screen will be added to the Payment Method combo box for rapid data entry. You now have more control and old cards will not be displayed. |
Run the Payments Pending Report to see a list of all pending payments for a given time period.
Go to Reports > Lists and Labels > Payments Pending List.
Choose to run the Summary or the Detail Report and the date range.
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HERE'S A FLASH FOR YOU!
In order to run credit card payments automatically for your payment plans you must be using Merchant Warehouse as your credit card processor. For more information visit: https://secure.studioplussoftware.com/help/credit_cards.aspx |
The Process Payment Plans tool will process all pending payments that are due by a certain date and apply each payment to the appropriate invoice. This includes pending payments that are part of a payment plan, as well as any manually created pending payments.
To process pending payments go to Tools > Process Payment Plans.
Process Payment Plans
Under Options, select if you want to change the status on paid-in-full invoices, if you want to advance the invoice payment due date to the next payment date, and if you want to send an email to clients with successful payments. Note: To email the client as part of the payment processing procedure, you must use a Payment Type form letter.
You will receive a preview of the number and amount of payments to be processed.
This processing routine will use each client's payment methods to determine how to process the payment. Note: The payment processing routine will automatically run credit card transactions only if you are using Merchant Warehouse as your credit card processor. If the payment is a credit card, the processing routine will attempt to authorize the payment using the client's primary payment method. If that method is declined, the processing routine will attempt to use the secondary payment method. If that method also fails, or if the client does not have a secondary method, this transaction will appear on the Payment Processing - Failures Report.
The Payment Processing - Successful Report will list payments that have been successfully processed.
Any non-credit card payments will need to be processed manually, but will appear on the Payment Processing - Successful Report.
