Adjust payment schedules using versatile arrangement tools.
To create a payment arrangement, login to the Partner Portal and navigate to an invoice with recurring payments.
On the top right, click on the actions drop down and select Create payment arrangement.
This will open the payment arrangement window. Depending on the status of the invoice, you may have the ability to create either a promise to pay or payment holiday.
Create a flexible arrangement schedule for collecting an overdue balance.
Sarah pays $50.00 per week for her house insurance. She recently fell $100.00 behind due to unexpected expenses. Knowing she'll have extra funds later, she contacts her provider who advises a Promise to Pay may suit her needs. They agree on splitting the overdue balance into weekly payments of $20.00, allowing Sarah to get back on track.
In the meantime, her regular payments continue concurrently as normal.
To setup a promise to pay:
- Simply input a payment amount, select a date, and click add to create a new scheduled payment.
Repeat this process as needed until all overdue funds are allocated to promise to pay repayments. Once complete, add a note and click next. The note will not be visible to the client. - After reviewing and confirming the updated schedule, proceed by checking the checkbox and clicking next.
- Done! The client will be notified via email about the arrangement including the payment schedule. The arrangement is also now visible on the invoice page.
Cancellation
A promise to pay arrangement can be cancelled due to:
- Manual triggering
Under the payment variation section on the invoice page, expand the arrangement you'd like to cancel. Click the
button, enter a reason, and confirm.
- Missed payment
If a policyholder breaks their promise, i.e. a promised payment is not paid on the agreed billing date, or if they miss a regular repayment, then the arrangement will be automatically cancelled.
In either case, any remaining Promise to Pay balance will move back to overdue and be automatically reattempted in full. The re-billing attempt schedule will depend on how the Partner account has been configured.
Sarah has paid her $20.00 out of $100.00 so far of her Promise to Pay, however her second Promise payment has declined. Since the Promise to Pay was broken, the arrangement is automatically cancelled and the remaining $80.00 is moved back to her overdue balance.
The full $80.00 is now due immediately. Her insurer has configured to re-attempt the next day, and the $80.00 is successfully deducted now as Sarah has the funds available in her account now.
Defer scheduled payments to a future date.
Charlie anticipates a temporary cashflow dip during a job transition. Concerned about upcoming insurance payments, he contacts his provider for assistance. They suggest a Payment Holiday, and agree on shifting two payments to a later date. This helps to make sure Charlie avoids arrears during his financial transition.
To setup a payment holiday:
- Check the upcoming payments. For each one, you can choose to select a new date.
Once complete, add a note and click next. The note will not be visible to the client. - After reviewing and confirming the updated schedule, proceed by checking the checkbox and clicking next.
- Done! The client will be notified via email about the arrangement including the payment schedule.
Once created, you can view the payment holiday on the invoice page under variations:
Any rescheduled payments will also appear in the scheduled payments list, with a 
badge.
Tips:
- A payment holiday can also be used to reschedule overdue payments
- The final payment can not be rescheduled.
- Payment holidays can not be cancelled, however they can be overridden. To do this, create another payment holiday arrangement.