As a host, you can set conditions for the payment of the bookings which are created, added, or edited by allocating instalments to them.To do so, you should create a Payment Term first. Then you may manage it by editing the terms.
Create Payment Term
Step 1: Go to Finances -> Guest Payments -> Payment Terms and click on Create Payment Term.
Step 2: Insert the payment Name under the General tab.
Step 3: Under Conditions, select the Variable and Operator from the box and put in your desired number for Days to set the Conditions for the payment.
Note: You can add more Conditions by clicking on Add Conditions in the middle of the page.
Step 4: Customise your Instalments by selecting its duration based on Weekly, Monthly, or Custom.
In Weekly Instalments, the number of instalments is equal to the Number of Nights divided by 7. The first instalment is due on the Booking Date, the second one is 5 days after the Arrival Date, and the rest are due every 7 days afterwards.
In Monthly Instalments, the number of instalments is equal to the Number of Nights divided by 30. The first instalment is due on the Booking Date, the second one is 25 days after the Arrival Date, and the rest are due every 30 days afterwards
For Custom instalment, set the Payment Due Date and Payment Percentage for Conditional Instalment Settings.
Note 1: You can add more Instalments by clicking on Add Instalments.
Note 2: You should insert other Instalments details (Payment Due Date and Payment Percentage) if none of the conditions specified at the top of this page are met.
Step 5: Under Rate Plans, tick Apply On Rate Plans to choose the affected rate plan(s) for your Payment Terms. Then, select the desired rate plan.
Step 6: Click on Save and Close. Finally, a window like the following screenshot will appear:
View and Edit a Payment Term
You can find this new payment term by going to Finances -> Guest payments -> Payment Terms.
In order to make changes in the created payment, click on the three dots on the right-hand side of each payment to Edit.
Note: You can see the instalment details of a booking under the Payments tab of Bookings.