Setting up the use of Administration Charge and offering Early Payment Discount - may be used as part of Late Payment management.
Step-by-step guide
Late Payments Support
Obit allows the setting up payments bands which let you define a fee or a discount depending on when a client pays. This aims to incentivise prompt and early payment. The number of weeks is always relative to when you sent the invoice.
Example cases:
- Discount the administration fee if the client pays within 4 weeks of invoice date.
- Discount a percentage of funeral director services if the client pays within 8 weeks of invoice date.
- Levy interest at a percentage of entire invoice amount if client has not paid after 12 weeks of invoice date.
Admin Charge
If you want to add an admin charge by default to all invoices you will need to create the charge item first. Go to the Items Tab and create a new item of type Admin and set the amount. Now under your company go to late payments and you can select this item and also switch on the option to “Add a charge by default”. All new funerals you create after this will have this charge added by default.
Offer a discount for early payment
If you want to offer a discount for prompt payment you can then create a new payment band by clicking on “+ Add Item”. Then click the pencil to edit. If you want to discount your admin charge if they pay within 6 weeks then it would look something like this:
To be able to see this text when you print your invoice you should use the Data Table called [[totalTableWithLatePayment]] instead of the regular totalTable. We have created a default document template for you called Summary Invoice with Late Payments. You can use this as is or make a copy of it and modify it as you see fit.