Pre-configuration of installment dates
releaseD in v4.5 Do you allow your customers to pay by installments and want even more flexibility in the configuration of the dates? This improvement will allow you define easily when and how often the installments are due.
Solution
The configuration of installment dates has been improved to allow operators to set up sales plans that better fit different financial requirements, with additional fixed dates and more flexible recurring installment definition.
Getting started
In the configuration of the payment methods, the installment dates have the following new options:
1st installment - on a specific day: a specific day of the month (1–31) for the first installment. Note that if that day is in the past for the current month, the following month will be used. Example: assuming the day is set to the 15th,
if the order is created before the 15th of the current month, the first installment will the 15th of the current month.
if the order is created after the 15th of the current month, the first installment will be the 15th of the following month.
3rd installment on a fixed date: an absolute date for the 3rd installment.
4th installment on a fixed date: an absolute date for the 4th installment.
Recurrence: the frequency of recurring installments, in days, weeks or months.
Same as 1st installment day: the day of each subsequent installment (not individually defined) will match the first installment date.
On specific day: a specific day of the month when each subsequent installment (not individually defined) is due.
Note that recurrence configuration defines how additional installments are defined beyond the configuration of the first 4. However, the 2nd, 3rd and 4th installment dates are optional, meaning that beyond the first installment, others will follow the recurrence configuration.
Additionally, the parameters for pending account have been regrouped under a dedicated tab.
Examples
To define relative installment dates, only use the “1st installment” and the recurrence. For example, having a first installment due immediate and then all following installments due on the same day every month.
To define absolute installment dates, use the 1st, 2nd, 3rd and 4th installment fix dates. Note that in this case, the configuration will have to be updated regularly with time passing.
