When creating (or editing) an invoice, the Settings in the upper right section of the screen provide a number of flexible options for the payment terms and schedule.
Accepting Partial Payments
By default, invoices are expected to be paid in full through one payment. When enabling this setting, the your customer will have the option to submit the invoice in partial payments (two or more). If a partial payment is received, FINSYNC will record the payment and update the "Status" to show Partially Paid. Payments are listed within the Invoice History when viewing the invoice in FINSYNC.
Note: Enabling partial payments allows your customer to pay a lesser amount than the full invoice amount due. This works well for deposits as you can set a payment schedule and separate due dates for any amount.
Payment Schedule
You can arrange a Payment Schedule with your customers by using the Split option. This setting will split the invoice payment in two or more smaller amounts that each have a specific due on date. Your customer will receive the request for payment for the dates specified.
Example: If you would like to collect a deposit before the full invoice is paid, you can choose to accept partial payments and set the payment schedule including the deposit amount and due date and then the remaining amount due on another due date.
You just want to make sure that the remaining amount box is showing $0 so the full amount is accounted for.
Payment Terms
You can choose to Auto Generate the Payment Terms based on due date and amount and this will also outline the details for the Payment Schedule (if used). You can type additional terms into this field as needed.
Additional Notes
The Additional Notes section on an invoice allows for any additional details to included on the invoice to communication to your customer. The Additional Notes are visible to both you and your customer on the lower left side of the invoice.
Private Notes (Internal Only)
The Private Notes are not visible to your customer and can be used to add specific notes for internal reference by you and any other users of your FINSYNC profile. These notes are visible to all users with access to Payments within your FINSYNC profile.
Note: Private/Internal notes and other settings cannot be updated on an Invoice once the invoice has been paid in full.
Past Due Reminder
When enabling this setting, reminders will be sent to the invoice recipient. The frequency of the reminders can be set to: Weekly or Monthly.
Auto Draft
If you have saved your customers account number and routing number to their customer profile, you are able to use the auto-draft invoice feature to draft their bank account. See THIS ARTICLE for more details.
Record Payment
If you receive a check or cash payment for a FINSYNC invoice, you can edit the invoice to record the payment. Toggle the Record Payment option on and enter any necessary details including Date received, the Bank Account the payment was deposited into and the Check Number if applicable.
Related Articles:
What Your Customer Receives When You Request Payment or Send an Invoice
How to Create and Send an Invoice
How to Create Recurring Invoices
Enabling Partial Payments for All Invoices & Payments Received