Tech Talk

Creating Payment Plans for Job Invoices

In a competitive business environment, it is not surprising to find businesses and consumers operating on a more restricted budget. Spending becomes limited and costs are closely scrutinized. To adapt to this growing mindset, it is imperative for businesses to provide their customers the flexible option of paying large invoices in installments, thus helping customers manage their budgets better. In the security industry, the cost of installing a new system can get expensive, especially when factoring in new equipment and labor costs. Fortunately, the job installment billing feature in MASterMind Business application provides you the ability to break down your large installation charge to smaller and more manageable amounts by creating a payment plan for the job invoice.

The job installment billing feature provides a streamlined approach in billing customers in installments for the job invoice. An initial amount to bill can be entered, and then either an amount to bill monthly or a number of subsequent installments. Entering the monthly amount calculates the number of installments based on the job total minus the initial amount billed. Entering the number of installments calculates the monthly amount to billed based on the job total minus the initial amount billed. This feature also allows for the ability to associate a pre-authorized recurring with the installment plan.

Details of the installment payment plan can be viewed in the existing Job Billing Details window. The window displays the initial amount, any pre-payment, and the balance that will be charged to the credit card or ACH payment associated with the payment plan. The number of installments, the amount of the installments, and the date that the first installment is billed along with the last four digits of the credit or account number that is charged can also be viewed.

The job installment billing feature helps ease the pressure of spending on customers by allowing them to take part in a more affordable payment plan. Breaking down large invoices to lower amounts can transform the unappealing cost of products and services into something more attractive.

*Contact your MAS Sales Representative for more information about the software and hardware requirements to support this feature if they are not already available to you.