18th April 2024 - You can now set up your payment plans based on the number of payments you want them to make rather than having to set the percentage.
We have now updated the invoice breakdown to make it easier for you to set up templates that are reusable.
Instead of needing to enter the percentage, you can now simply set the number of payments. For complex breakdown percentages this means you don't need to calculate the percentage beforehand as it will break it down evenly itself into the number of payments. This also frequently avoids having final payment amounts that are different to the rest of the schedule.
This can be found in Plans and Subscriptions by selecting "Add Payment Plan" Button, then selecting the Breakdown an Existing Invoice option.
What's the Breakdown an Existing Invoice feature?
You can use this feature to offer your customers an ability to pay off invoices in instalments. You can invite them through Pinch, copy the invite link and email it to them, or enroll them yourself manually. This can also be enabled as a default option on pay now links. In Xero it can be set to appear on certain branding themes and not others. This is also a great way to get overdue or difficult to collect invoices paid.
A great example of where this feature has been used is with schools that send out tuition fee invoices at the start of the school year, semester or term. You can set up breakdown templates to enable them to pay the invoices off weekly or fortnightly to make it easier.
Enabling great for anyone invoicing to receive their payments that know ahead of time that their customers would appreciate a way to pay the invoice off over time as opposed to only being able to pay it off with one payment, or to put it bluntly, to put it off until they can.