What is custom payment schedule?
Custom payment schedule is the feature where you can create multiple payment installments (aka payment plan) for a specific invoice. Typically this is being used to spread revenue streams over the period of time and usually it's being aligned with the expenses you as a business incur associated with the event or a project the invoice belongs to.
How to create multiple installments?
Multiple installments option is only available for itemized invoices. Quick invoices (following the logic of the name) is a way to quickly send a one-off payment request to your clients without a need to spread it over time. Click here to learn more how to create invoices on Maroo click here.
ℹ️ Please note that custom payment schedule feature is available on our Business and Pro plans. Click here to find more information about our plans.
How does it work?
Maroo offers a convenient and simple way to schedule multiple payments due in one go and forget about tracking, invoicing and reminding your clients - we are doing this for you.
To schedule multiple payments, just add information when the payment is due, switch between absolute value ($) or percentage from total contract (%) and add the associated value in the data input field on the right. Then click + Add payment to create it within the same invoice.
You can customize your payment installment names, e.g Deposit, Retainer, Balance and others. Just click on the installment name and edit it to your needs.
ℹ️ Maroo has a built-in logic that ensures that your last payment always balances the total contract amount regardless of how many installments were created initially.
You can control the automatic payment reminders by turning on/off the respective checkbox shown below. Click here to find more information how payment reminders work on Maroo.
Have questions? Chat us or reach out via [email protected]