The Payment Schedule feature within Studio Manager allows you to set up installments for your invoices or even require a deposit/retainer to be collected. This article will go over how to set up a payment schedule and include additional installments.
On this page:
- Setting Up a Payment Schedule
- What will the client see?
Setting Up a Payment Schedule
When creating a new invoice or editing an unpaid invoice, scroll down to the Due date section of the invoice and select a specific day or timeline (i.e. on receipt, within 7 days, within 14 days, etc.) for when the final payment will be due.
From there, toggle the Payment Schedule option On and you will automatically see the scheduling window appear.
When you enable the Payment Schedule option, the invoice will be split into two different payment installments with 50% of the total being owed on each Due Date.
Updating a Payment Installment's Amount Due
If you want to update the payment installment's Amount, select either the amount or percentage to edit it directly.
When an update to any installment is made, the other installments will adjust automatically to ensure that the invoice's total is met.
Modifying a Payment Installment's Due Date
You can update the Due Date for any specific installment by clicking the Calendar Icon to the far right.
Note: The final due date of the invoice will always be the due date for the last payment installment.
To update the Due Date of the last payment installment, select a new date by clicking the Calendar Icon within the Final Payment Due field.
Including and Removing Additional Payment Installments
To include additional payment installments within the invoice, click the + Add another payment option and the Amount/Percentage due will adjust accordingly. You can add up to 6 installments to an individual invoice.
To remove an installment, simply click the ✕ located to the far-right.
What will the client see?
Once you have sent the invoice to your client, they can easily see when their first payment is due and the amount that is owed.
If they scroll down further, your client will see their complete Payment Schedule. The schedule outlines the number of payments included within the invoice and the individual Amount, Due date, and current Status for each installment.
When your client pays for their invoice, they can select whether to pay only the first installment, a select few installments, or the full invoice.
For more information on reviewing and recording your clients' payments, be sure to check out our guide here!