How to create a payment plan
To create a payment plan, follow these steps:
- Go to the Purchases > Payment Plans.
- Click on New Payment Plan.
- Fill out the Payment Plans details.
- Description: Insert a unique description for the plan.
- Prior Payments Total: If you have already made payments for the plan, insert the total amount here.
- Scheduled Payments: Click on Add and fill out the remaining portion of your payment plan.
- Add Purchases: Select the purchase order activity that your payment plan applies to.
- Create Payment Plan: The finalizes your plan.
Tip: The total of your purchase orders should equal the total of your Prior Payments + Scheduled Payments.
At this point, the payment plan is set up and will show on your list of payment plans.