Guide to Using Partial Payments for Invoices

Partial payments for invoices is a highly requested feature that allows end customers to make payments in installments, providing flexibility and improving cash flow management. This guide will walk you through the steps to enable and manage partial payments on your invoices.

How-to Steps:

1. Access Payment Settings:
   • Navigate to the invoice settings under the Payments tab in your Progreda dashboard.
   • Click on the gear icon to access ‘payment settings.’

1. Enable Partial Payments:
   • Find the option labeled 'Allow Partial Payments.'
   • Toggle this option to enable it.
   • Set the minimum percentage of the total invoice amount you will accept as a partial payment. This percentage represents the smallest fraction of the invoice the customer can pay.

1. Creating an Invoice with Partial Payments:
   • Create a new invoice as usual.

• Ensure the 'Allow Partial Payments' option is enabled for this specific invoice.
• Define the total amount and other invoice details.
• Make sure you have a payment processor integrated

• Send invoice via email/text or both

1. Customer Payment Process:
   • When the customer receives the invoice, they will see an option to make a partial payment.
   • Customers can enter an amount equal to or greater than the specified minimum percentage.
   • The invoice will reflect the partial payment, showing the remaining balance and marking it as 'Partially Paid.'

1. Managing Partial Payments:
   • Track the partial payments in your invoice management system.
   • Monitor outstanding balances and follow up with customers as needed to collect remaining payments.

Benefits:

• Flexibility: Allows customers to manage their payments more conveniently, increasing the likelihood of timely payments.
• Improved Cash Flow: Businesses can receive portions of payments earlier rather than waiting for the full amount.
• Customer Satisfaction: Offering payment flexibility can improve customer satisfaction and retention.

Pro Tips:

• Set Clear Terms: Communicate the terms of partial payments to your customers, including the minimum payment percentage and deadlines for the remaining balance.
• Automated Reminders: Use automated reminders to notify customers of outstanding balances and upcoming payment due dates.
• Payment Tracking: Regularly check your invoice management system to ensure partial payments are accurately recorded and reflected in your accounts.

FAQ/Use Cases:

1. Can I enable partial payments for recurring invoices?
   • Yes, the partial payments feature is available for both one-time and recurring invoices.
2. What happens if a customer tries to pay less than the minimum percentage?
   • The system will not accept payments below the specified minimum percentage. The customer must enter an amount that meets or exceeds this threshold.
3. How can I inform my customers about the partial payment option?
   • Include information about the partial payment option in your invoice template or a separate communication to your customers. Clearly explain how they can make a partial payment and the benefits of doing so.