|Submitted by:||Rapattoni Magic Software Support|
|Issue:||What is installment billing and how can it help my members?|
We all know that economic times are tough, and agents may find that paying their association dues is more burdensome than in times past. Would you like to provide your members with a creative way to manage cash flow, and therefore maximize the number of members you retain? Rapattoni Magic provides you with an easy way to do just that – Installment Billing.
What is installment billing?
Simply put, installment billing is the same as a payment plan. It lets you divide charges into two or more parts. Your association has complete control over which charges to bill in installments, how many separate payments to allow, and when each should be due.
No doubt, your members will appreciate having the opportunity to pay their bill over time. However, some may decide to pay the full amount all at once. You can even offer a discount as an incentive to members who pay in full by the time the first installment is due.
How do we set up installment billing?
Installment billing is set up utilizing special fields on forms such as the Invoice Type Table and the Charge Code Information Form. There is also separate utility for updating the Member Billed Status field.
Please contact Rapattoni Magic Support for assistance setting up installment billing for the first time.