Sometimes a large invoice cannot be paid all at once due to the amount and the owner not having enough funds to cover.
An agreement can be made with the supplier to have the invoice paid in installments. Once the agreement has been reached you can set up the invoice to be paid in installments through Palace.
The Invoice is just set up once in the Supplier Diary
- You set up the number of installments
- You set up the amounts to be paid
- You schedule when it should be paid
Instructions - Setting up an Invoice to be paid in instalments
Example: New Fence $1200. The Owner has agreed to pay $500 for two months and then a final payment of $200.
- Go to the Supplier, Click on edit and select Diary from the list
- Click on Invoice (Left hand side menu)
- In the Description box - Type what the invoice is for and add the full amount of the invoice, incl GST
- Select the property from the property drop down list.
- Set the priority - or leave as Medium
- Enter in the date that you want the first invoice to appear on (Due Date)
- If you have already scanned in the Supplier Invoice, you can click on Choose File under Attach Invoice
- Date: will default to today’s date as they date the diary entry was created
- Enter in the Invoice Number
- Invoice Amount: In here you put the amount of the first payment, incl GST so you would enter $500
- Check the maintenance fee and change if required
- Repetitive Period – set the frequency of the payments e.g monthly
- Set Limited Payments to Yes
- Enter in the total number of payments i.e 3 (as per this example)
- Enter in the amount of the final payment i.e $200 (Palace will work out that the middle payment is $500)
- If any of this is charged to the tenant, you can also set up the charge here
- Click Save & Close
NOTE: This has now been set up in the Diary. It will show in your Dashboard under the Invoices tab when the date you set it up for arrives