How to Set Up Flexible Payment Plans in Invoices

We’re thrilled to introduce the ability to add flexible payment plans to your invoices in Stack!

What’s New?

With this feature, you can now divide your invoices into manageable payment installments. Here’s what you can do:

• Flexible Splitting: Choose to split the invoice based on a percentage or a fixed amount.
• Due Dates & Notifications: Each installment comes with its own due date and payment status. You’ll receive a notification on the due date if the installment hasn’t been paid yet.
• Installment Payments: Payments are made according to the predefined splits. You can choose to pay one or multiple installments at once. Your invoice is marked as paid once all installments are completed.

How to Use Flexible Payment Plans

1. Add a Payment Schedule: Open an invoice and click on “Add Payment Schedule.”
2. Set Payment Terms: Define the payment terms using either a percentage or a fixed amount.
3. Send the Invoice: Once set up, send the invoice to the recipient.
4. View and Pay: The recipient can view the invoice along with the payment plan details. They have the option to select the payment schedule value or add additional schedules by checking the appropriate boxes.

Why Use This Feature?

This feature is designed to address a common need for handling medium to large ticket invoices. Often, users prefer to pay in installments rather than in one lump sum. While partial payments allow payers to decide the amount and timing of payments, this new feature gives the invoice issuer control over the installment sizes and payment schedule.

By using flexible payment plans, you can offer your clients a more structured and manageable way to settle their invoices, enhancing their payment experience and potentially improving your cash flow.