Setting Payment Frequency- Paid in Full
When creating a paid in full contract, the payment frequency, frequency and # recurring payments are all grayed out because there are no recurring payments on a paid in full contract.
If creating a contract in which the buyer will be paying in multiple installments, the installment dates can be created by adding multiple down payments with installment due dates.
The discount amount should be completed with $X if you offer a $X dollar discount for paying in full. This discount will automatically be applied during the contract creation process if this membership option and payment schedule of paid in full is selected.
Discount % should be completed with X% if you offer X% discount for paying in full. This discount will automatically be applied during the contract creation process if this membership option and payment schedule of PIF is selected.
A dollar amount should be entered for Fee if you require one.
For a paid in full contract the minimum down payment amount due is equal to the base price less the amount of any discounts and will be automatically calculated and populated during the contract completion process, so this can be left at zero.
Setting Payment Frequency- Monthly Term
When creating a contract with monthly payments, the payment schedule type should be period payments and period frequency should be 1 and set to monthly. This means that in the course of a month, the account will be charged 1 time.
For a one year membership, the number of payments would be set to 12, as there are 12 payments that will be made on the contract.
Discount Amount should be completed with $X if you offer a $X dollar discount for paying in full. This discount will automatically be applied during the contract creation process if this membership option and payment schedule of Paid In Full is selected.
Discount % should be completed with X% if you offer X% discount for paying in full. This discount will automatically be applied during the contract creation process if this membership option and payment schedule of Paid In Full is selected.
A dollar amount should be entered for Fee if you require one.
A dollar amount for Down Payment should be entered if a minimum down payment is required.
Payment Frequency- Month to Month
Payment Schedule should be set as Paid In Full because technically a month to month contract is paid in full at the end of every month. Payments will continue on an ongoing basis, however, because it is auto renewed until cancelled.
The payment frequency, frequency and # of recurring payments are all grayed out because there are no recurring payments on a paid in full contract.
A dollar amount should be entered for Fee if you require one.
For a paid in full contract the minimum down payment amount due is equal to the base price less the amount of any discounts and will be automatically calculated and populated during the contract completion process, so this can be left at zero.
During the contract signing process, on the contract/financial page, there will be a field "extension payment". This is the dollar value that will be used for the automatic renewal payments of the month to month contract.