Splitting payment methods or allowing installments

PrimalrootsPrimalroots Member Posts: 1

Is it possible to design the invoice so that the client can use multiple payment methods or pay in installments?

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Comments

  • AlexiaAlexia Administrator Posts: 3,315 admin

    Hi @Primalroots.

    You can accept partial payments to your invoice without problems, and allow your clients to pay in installments that way. If you want to break it down further, you could also make recurring invoices instead, and make them active for a given period.

    Can you give me a little more information? If you can tell me exactly what your workflow looks like, I'll be able to give you a more definitive answer.

  • PJandCompanyLLCPJandCompanyLLC Member Posts: 4

    This isn't really a solution since you're unable to easily show the customer the total and how much is due per installment (and when the installments are due). It's not a clean solution at all.

    I have a similar issue where I invoice customers for rentals where they are expected to pay 50% upon receipt of the invoice and then 50% 30 days before their stay. I can mimic this with recurring invoices just fine and emulate the installment with a credit, but it's extremely confusing for the customers because they can't easily see the total amount due and when the next installment is expected.

    With the method I've described above, the feedback from my customers is that it's too confusing. Because of this, I can't use this otherwise wonderful product. It seems a lot of other users have the same issue. When is Wave going to add this as a real feature?

  • AlexiaAlexia Administrator Posts: 3,315 admin

    Hi, @PJandCompanyLLC.

    Using recurring invoices to handle transactions like in your example is actually one of the methods we suggest on the Help Center as well. You could also send a single invoice with mentions of your terms in the Notes section. Once that 50% is paid, you can resend them the same invoice, which will display the amount that already has been paid. But you are right, those two solutions are very much workarounds.

    Could you tell me a little more about your business? It would give us a better idea of how we could best help you out.

  • PJandCompanyLLCPJandCompanyLLC Member Posts: 4

    Hi @Alexia. Thanks for the workaround tips.

    For my business, it's basically the example in my post above. I rent out condos to vacationers. To reserve the room for a given night, the renter must pay 50% of the total bill to hold then the final 50% 60 days before they are scheduled to stay.

    When I invoice, I like to send an invoice that shows:
    1. All total fees so this is very clear to the renter
    2. Clearly indicated payment breakup (50% now, 50% later)
    3. The due dates of the installment payments

    For myself, I would like to have the invoices auto-generated and sent 60 days before the scheduled date so that I don't have to remember to send the invoice at the right time.

  • AlexiaAlexia Administrator Posts: 3,315 admin

    Thanks for following up, @PJandCompanyLLC, we appreciate the feedback!

    I think that given your situation, using recurring invoices is your best option. You can set your recurring invoice to send the first invoice for 50% of the payment on a given date, and set the second instance to send out 60 days later. You'll also have to set the end date right after the second invoice so that no third invoice is sent out.

    The total fees won't appear by default, but you could add that information in the description of the item, as well as add your terms in the notes section of the invoice. The item on your invoice would look something like this...

  • PJandCompanyLLCPJandCompanyLLC Member Posts: 4

    Thanks @Alexia for the reply, however, this is too cumbersome for me to use for my business as-is. Having to manually calculate the totals and list it out in a note is a no-go because:
    1) It's a lot of overhead for me
    and
    2) It's too confusing for my customers.

    Thanks for the input, but I'll have to wait until something more robust has been implemented before I'm able to move back to wave :disappointed:

  • AlexiaAlexia Administrator Posts: 3,315 admin

    I'm sorry to hear that, @PJandCompanyLLC.

    I can't make any promises, but I'll make sure this is seen by the right people on our end. User feedback has an important impact on how we choose what to build next, so thank you for taking the time to provide yours.

  • SupportSolutionsETCSupportSolutionsETC Member Posts: 2

    I am in a similar boat here. I have clients who cannot make the payment in full and so I am offering installments. I have no way to invoice a starting balance that will keep track of their payment history in a clear way. I have set up recurring invoices but there is no way to show the balance being paid down without manually keeping track of it. Having the feature where you can edit the starting balance of a customer or more options for payment terms such as a customization option on the main or 1st invoice where we can set the payment amount to be paid and the frequency of the payments instead of just net 30/60/90 etc. This feature being added would be tremendously helpful to us as well as making it really clear to our customers what their remaining balance is.

    I have customers that I will be setting up using wave for their businesses and this feature would be an excellent selling feature for many of them :)

  • AlexiaAlexia Administrator Posts: 3,315 admin

    Thanks for sharing, @SupportSolutionsETC!

    Can you tell us a bit more about the kind of business you run? I'd love to get a better idea of the work you do and the needs of your clients.

  • SupportSolutionsETCSupportSolutionsETC Member Posts: 2

    I am a Virtual Assistant for small business owners and offer a variety of services for my clients that can add up and since they are small business owners I often offer to split the payments One service is to manage their bookkeeping or set them up for bookkeeping if they do not have anything established already. I look for services that are all mobile friendly by being web based so they can work their business from any computer vs having to have software downloaded. Depending on what they offer they will need to have clients make payments on services as well instead of paying the full invoice at once. In this particular clients case that I am trying to work with the budget is small so I have made an agreement for payments to be split over 12 months. Add multiple clients to that list with various arrangements made its very cumbersome to keep track of who has paid what toward their balance. While yes, I can schedule the re-occurring to stop after a certain date it is not clear enough to myself or my client of the remaining balance without tracking it separately myself.

    I hope this is clear on what you are looking for.

  • PQEPQE Member Posts: 3

    Has this issue been solved? I have a simlar issue. I charge for classes but they are expensive so I charge a $50 fee to reserve the seat. Then depending on the length, they pay 2-3 installments but I want a running tab.

  • AlexiaAlexia Administrator Posts: 3,315 admin

    Thank you for your feedback, @SupportSolutionsETC and @PQE.

    @PQE, I know this isn't an ideal solution, but you can make a single invoice and record multiple partial payments to it. After a payment is recorded, that payment will be reflected on the invoice immediately. If your client clicks the link they received by email, they'll see that partial payment there, as well as the remaining balance.

  • PQEPQE Member Posts: 3

    @Alexia thank you! That's actually exactly what I ended up doing. I live in the Republic of Panama and in the end, they have a machine that I also have to use and for the invoice numbers to stay matching, I can't have seperate invoices for each pmt really.

  • AlexiaAlexia Administrator Posts: 3,315 admin

    Happy to hear this solution works for you, @PQE!

  • YoavYoav Member Posts: 2

    +1 for this. It would be nice to have an option to send a partial invoice for x amount from within the invoice page. For example:

    I'm a residential designer and upon signing the contract, the client pays a deposit. Upon submitting for permits, I'll charge some portion of the balance, and upon obtaining permits, I'll charge the remaining balance. It's nice that Wave already handles partial payments towards invoices - the last step would be to support sending partial invoices. So if you have an invoice for $2,000, let's say, you would have a dropdown to "Send Partial Invoice" for $500. Then at some point you could send an additional partial invoice for $500. All the while, each time the client checks this invoice online, they see their progress to the $2,000 sum.

    Splitting this out in 3 separate invoices and keeping track and writing details of how far along they are towards the total sum is a workaround prone to errors and is tedious.

  • AlexiaAlexia Administrator Posts: 3,315 admin

    Thank you for adding your voice to this discussion and sharing your feedback, @Yoav!

  • squintsquint Member Posts: 1

    I am a freelance designer and writer and offer payment for projects in instalments. Those instalments aren't always the same as the last payment often varies and the deposit is a different amount. I will need to use recurring invoices and a separate invoice for the first and last payment using this current workaround ... I would like to add that it would be much simpler to be able to Send Partial Invoice as mentioned by @Yoav above.

  • Kryptonit3Kryptonit3 Member Posts: 1

    +1

    To the developers:
    Example: total invoice $1040, split in 3 payments 345,345,350
    Due Date: [3 months from now (Oct. 14th, 2018)] Jan. 14th, 2019
    Checkbox: Allow partial payments?
    Once checked;
    Dropdown select numbered 1-10? [3 selected]
    [3 rows generated]
    [row 1]
    Amount: 345
    Due by: Nov. 14th, 2018
    [row 2]
    Amount: 345
    Due by: Dec. 14th, 2018
    [row 3 - final payment]
    Amount: 350
    Due by: Jan. 14th, 2019

    3 row amount total MUST equal invoice total.

    Then allow customer to track their progress and make payments as they see fit.

  • theprintbazaartheprintbazaar Member Posts: 2

    Having this would be awesome for me as well.. I am a DTG Apparel printer, so when an order is placed I get a ½ deposit and the remainder is due on completion. Having an option to create a complete invoice, and then billing 50% for the deposit, then when work is done trigger the remainder invoice to be sent would be awesome!

    I awn using workarounds now, but it feels clunky and unintuitive, which is surprising because everything else about Wave seems to be so well thought out. It would also look much more professional to have the deposit listed as paid so the customer knows exactly where they are in the process.

    Hopefully we'll see something like that soon.

    edited October 15, 2018
  • diegodelamodiegodelamo Member Posts: 1

    I don't know why Wave has not implemented this feature at this point. It seems pretty simple to do from the programming standpoint. I have exactly the same issue as many here, I need to send an invoice with the full amount but only requiring a partial payment of 50% from the customer, leaving a balance to be paid at a later date. The recurring invoice solution is not a solution at all because it's very confusing to the customer. I really like Wave, but this is really something I miss from QB.

  • jdaniellewehuntjdaniellewehunt Member Posts: 2

    I'm a photographer and illustrator and every single job I do requires me to bill a retainer and final payment. I absolutely hate having to create 2 products (retainer & final payment) for each job. It's not fun for me to keep up with either. Also, there should be a way to easily duplicate products within the product section so that creating new products with similar attributes isn't so much of a process.

  • MoltovMoltov Member Posts: 1
    I ended up here by searching for the same solution. I sell and broker domain names and services and sometimes have situations where the buyer needs to pay in installments.

    Would love a better solution
  • bratsche1127bratsche1127 Member Posts: 1

    I am a music teacher and bill my students once per year, but need to provide payment plans. To throw in my voice to the above conversation, I also would LOVE to see a payment plan feature created.

    If I were to bill my student for $1000, I need to have them simply click an option that allows them to:
    1) Pay in full ($1000)
    2) Pay quarterly ($250 * every 2.5 months)
    3) Pay monthly ($100 * 10 months)

    I would love to have the ability to put a CC on file (like in the recurring payment), but have them be able to see what the original breakdown is on their invoice, and to enable me to only generate one invoice per student, per year.

    To get a better idea of my business, my student's invoice might look like:

    1) Private instruction--$700
    2) Group class--$200
    3) Recital Fee--$100
    Total: $1000

    Just like in recurring payments, have an auto-generated email that lets the client know when their payment is about to get charged, or if they choose to not put a CC on file, that they have a payment due.

    It would be awesome to see a solution to this!!

  • CharlotteCharlotte Administrator Posts: 644 admin

    We really appreciate the context!

  • Lem18Lem18 Member Posts: 1
    I just found this thread by searching for the same solution - I run classes where my clients pay per term. I offer payment in instalments for larger bills and currently state my terms in the notes section and use the partial payments option as suggested. This option is preferable for us over the recurring invoice system, as this would become too complicated for both myself and my clients to keep track of which payments relate to the current term.

    The main issue that I’m having with this method is that the reminder emails are only connected to the final due date. This has resulted in having to manually check who has instalments due and when and sending out a separate email to remind clients that their first instalment payments are due. Using Wave to send this reminder doesn’t really supply the required information for the client as it only shows them the total amount due and the final due date.

    Adding an option to pay in instalments and the ability to specify separate due dates would be a really wonderful addition for us! We will continue to use Wave for now as we otherwise love the system but as we continue to take on more clients this slight flaw could become very time consuming for us to keep track of and we may have to look elsewhere for our invoicing solutions.
  • offthehoofbbq_1969offthehoofbbq_1969 Member Posts: 2

    Same here Wave. Love the solution but this causes a lot of confusion for the customer. I do BBQ Catering. www.offthehoof-bbq.com (shamless slef promotion there!) We charge:
    -$100 deposit today
    -50% of the remaining balance 30 days prior to the event
    -balance due the day of

    Would be nice for the software to calculate an accurate balance due, due date, amount recieved, etc.

  • treplotreplo Member Posts: 1

    Hi Wave we need this too.

    We run a cold storage facility. Produce is stored for more than 6 months. We bill in three instalments.

    Clients want to see clearly

    • The total due overall (the combined total of the three installments)
    • The amount now due in the current instalment

    Thanks

  • WilemJSWilemJS Member Posts: 2

    Awesome product. Same issues as above.
    We run a tuition institution. We ask a yearly fee, payable over 12 months.
    It would be great if we can invoice once in the beginning of the year and then send a monthly STATEMENT showing
    1. ) only the current month's installment as ** currently due**.
    2. ) the total outstanding.

    edited December 6, 2018
  • xraycars1_xraycars1_ Member Posts: 1
    It would work for me if I could at least enter an item such as “Payment received” then a negative number, thereby reflecting the payment amount. Seems simple enough, but I’m no programmer. Hopefully, it’s already in the app and I have overlooked it.
  • ErikErik Administrator Posts: 187 admin

    Thank you to all who have contributed their feedback and experiences -- while this has not been worked on yet, I can assure you that we have heard the call. Like mentioned, I can't make any promises, but I will keep bringing this up on your behalf to see if our teams can come up with a satisfactory implementation in the future.

    @xraycars1_ you are actually able to enter an invoice item with a negative amount! Simply add an invoice item and edit the "Amount" box. Please let us know if anything is preventing you from doing so.

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