Forum Discussion
How can I accommodate payment plans where the amounts differ per term?
Hi Arjan,
One tactic I have used for payment plans with differing amounts is to create one Private Offer with various plans, including Pre-pay plans and Pay-Annual plans. However, this will only work if the Payment for each year is higher than the following years. For example, with the below payment schedule:
- Year 1: $70,000
- Year 2: $60,000
- Year 3: $30,000
I have been able to set it up using a 1-year pre-pay plan for $10,000 and then a 2-year Pay Annual Plan for $30,000 as well as a 3-year Pay Annual Plan for $30,000 in order to achieve the payment plan with differing amounts. The Customer would still need to subscribe to all three Plans, but it would result in one Private Offer and the Customer can subscribe to all at the same time instead of three different Private Offers and subscribing every year.
Many thanks. I have indeed done this with some customers. And like you mentioned it only works if the Payment for each year is higher than the following years. In other cases, I have had to put a reminder in the calendars to transact a new offer in the following year. I have my hopes on flexible payment schedules which were announced at Ignite.