This is a great way to set up payment plans for customers to pay off bills over time that they otherwise can't afford, or if you've raised a total invoice in your accounting system before applying the payment plan.
TABLE OF CONTENTS
STEP 1: Creating the Payment Plan in Pinch
- Log into your Pinch account.
- Click on Plans and Subscriptions from the left menu.
- Click the Add Payment Plan button.
- Under the Plan Type options, choose Breakdown an Existing Invoice.
- Choose if the Payment Plan should start immediately upon activation or on a specific day of the month in the Start Date area.
- If your Payment Plan is going to have a Fixed Payment that differs from the Recurring Payments, click + Add Fixed Payment under the Payments section.
- Enter the Amount (in $ or %) for the Fixed Payment, choose whether the Fixed Payment should start on the Start Date set in step 5 or after a delay in the Schedule Payment area, and then enter a Description.
- To add Recurring Payments to your Payment Plan, click + Add Recurring Payment under the Payments section.
- Enter the Amount (in $ or %) for the Recurring Payment, choose whether the Recurring Payment should start on the Start Date set in step 5 or after a delay in the Start Date area (this counts from the plan activation date), choose how often the Payment is to repeat in the Recurring Every area, and then enter a Description.
- Choose the Plan Name this Payment Plan will have for your reference inside Pinch and the Display Name your Customers will see it as. You can add a URL in the Terms Link to any Terms & Conditions you might want to include for your Customers to agree to when signing up to this Payment Plan (this is optional and can be left empty).
- Click the Create Plan button.
- You will now see the details of the Payment Plan shown.
STEP 2: Subscribing an existing Invoice to the Payment Plan
- Click on Payments from the left menu.
- Click on the Payment you would like to Subscribe to the Breakdown Payment Plan.
- Click on the Choose a Payment Plan button in the Payment Plan area of the Payment.
- In the Create Payment Plan dialogue box, click in the Search for a Plan box and select the Breakdown Payment Plan you would like to Subscribe the Payment to, then click the Create Payment Plan button.
IMPORTANT: Customers who are not already on an Active Pre-Approval will be sent an email inviting them to Subscribe to the Payment Plan, the Subscription will commence from the date they enter their details).
- You will now see the Payment has a Plan Pending and the Subscription status show as Pending in the Payment Plan area of the Payment in Pinch. Clicking on the Subscription will allow you to see more details of the Subscription.
- The Subscription details page shows the full schedule of Payments as well as the other details of the Subscription.
- Your Customer will receive an email with an invitation link to Subscribe to your Payment Plan.
- The Payment Plan details will be clearly shown to the Customer along with Payment options to sign up to the Subscription.
- Selecting a Payment method will allow the Customer to enter their information and then Confirm Subscription.
- Your Customer will receive an email confirming the Subscription Pre-Approval.
- You will also receive an email confirming the Customer completed the Subscription Pre-Approval.
- You will now see the Subscription show as Active in the Subscriptions area of the Payment Plan in Pinch. Clicking on the Subscription will allow you to see more details of the Subscription.
- The Subscription details page shows the updated status of the Payments in the schedule