Setting Up Payment Configuration

When invoicing a client, you have the option set up payment plans. For example, you may set up a yearly bill for school fees but allow the parents to pay the bill off over a period of time either by month, week, term (whatever you specify). By setting payment configurations, Educonnex will then split the bill into equal payments (according to the set up) and set individual invoices across the set time period. For instance, if you set school fees to be paid for by school term – Educonnex will split the total amount due the full year into four payments and create four invoices that will be future dated. This can then be exported to your accounting software and sent out to your clients as the time arises.

To create a payment configuration:

1. Go to Menu > Finance > Micro-Billing > Payment Configurations.

You will see the default payment configuration

2. Click Edit

Select the payment configurations you wish to activate (Upfront will be selected by default)

3. Complete the data entry fields.

Below is a description of each field:

Field	Descrption
Payment Terms (Days)	This is the number of days they will have to pay the bill once they have received the bill.
Description	This allows you to give detailed information as to what this configuration means.
Instalment Period	This is where you set the dates between which the invoices will be created. These will need to be updated every year.

Once completed click Save.
The created payment configuration will now appear in the list. You can now add categories to your payment configurations. 

To add categories to your payment configurations

1. Click on the Categories button.

2. Click Edit. 
3. Tick categories you wish to attach.  
4. Click Save. 

You can create additional payment configuration types, as needed

1. Go to Actions > New Configuration
2. Complete the required fields

Field	Description
Payment Terms (Days)	This is the number of days they will have to pay the bill once they have received the bill.
Name	Give the configuration a name. E.g. Term, Weekly, Monthly, Once off payment
Description	This allows you to give detailed information as to what this configuration means.
Custom Dates	This is where you set the dates on which the invoices will be created. These will need to be updated every year.

3. Click Save