Managing payments within contracts is now more efficient with the latest Payment Schedules feature in Documents & Contracts. Users can configure deposit requirements, schedule installment payments, and even enable automatic deductions for seamless transactions.
This update simplifies financial workflows for businesses, ensuring payments are structured while giving flexibility to signers.
Key Features of the Payment Schedules Update
With this feature, users can:
- Create custom payment schedules within Documents & Contracts.
- Set due dates dynamically based on the signing date or a fixed date.
- Enable automatic payments for upcoming transactions.
- Allow signers to view their installment details within the contract.
- Redirect users to an invoice page after signing, if direct payments are enabled.
How to Set Up a Payment Schedule in Documents & Contracts
- Access Documents & Contracts and add a product list.
- Click Add Payment Schedule from the left-side panel or select it within the product list.
Setting Up the Payment Schedule
- First Payment Due Date: Choose either upon signing or specify a fixed date.
- Installment Setup: Payments can be scheduled at regular intervals after signing or set for specific dates.
- Amount Distribution: Assign payments as fixed amounts or percentages of the total cost.
- Balance Calculation: The system will automatically display the remaining percentage or outstanding amount.
How Payment Dates Adjust
- If installments are based on specific dates, they may shift depending on when the primary user signs.
- If a payment is delayed, subsequent payment dates adjust accordingly.
Viewing the Payment Plan
- Once the schedule is saved, the payment breakdown appears in the final product list on the contract.
Enabling Auto Payments
- Switch on Auto Payments to have subsequent installments deducted automatically on scheduled dates. Auto Payments to automatically deduct subsequent payments on scheduled dates.
Why This Feature Matters
This update simplifies payment collection and contract execution by introducing structured payment options.
- Deposit Collection – Require an initial deposit at the time of signature.
- Automated Payments – Reduce manual follow-ups for outstanding payments.
- Flexible Scheduling – Support dynamic and fixed payment structures.
- Improved Transparency – Signers can clearly view their financial commitments.
By integrating Payment Schedules into Documents & Contracts, businesses can ensure timely transactions, enhance payment flexibility, and streamline financial operations without manual intervention. better experience for all parties involved.
