How to create an invoice with multiple payment plan options using SimplePin

SimplePin allows you to provide your customers with flexible payment plan options. For example:

  • One-time payment
  • Payment in 3 monthly installments
  • Payment in 12 bi-weekly installments

This functionality is particularly useful in the insurance business as SimplePin makes it easy to set up and manage payments this way.

To create an invoice with multiple payment plan options, follow the usual invoice creation process:

  • Select the customer
  • Set the invoice #, date, due date, period
  • Specify line items
  • Specify taxes
  • Specify transaction fees.

By default, invoices are created with one payment plan – a single installment.

If you want to add more options, click on the plus button and configure your payment plans. In our example we'll configure 3 equal monthly payments.

If you'd like to collect financing fees, please specify the percentage per year. If you'd like to give your customer the option to pay sooner, you can enable this option. You can also encourage customers to pay ahead of schedule by enabling the discount for an early payment option.

You've probably noticed that on the right side of the table that you're provided with a breakdown of the 3 installments. You can adjust the dates and amounts manually if you decide that the calculation should be different.

Note that the default settings for financing percentage, early payment, and discount for early payments can be configured in your company settings. Because of this you won't need to manually change them each time that you issue an invoice.