Create payment plans on projects

Easily map payment plans

Enter instalment payments on projects in advance and invoice them at the desired time. You complete this process in Vertec with payment schedules. Break down the total amount of a project into lump sum instalments, invoice them and then create a final invoice. The amounts to be invoiced may vary. For example, depending on the economic situation of the invoice recipient, the amount of an invoice may be lower. a final invoice summarizes the individual invoices of the respective project.

How payment plans work

Entering planned payments using a payment plan

On the desired project, the sub-items “New” and then “Scheduled payment” can be selected from the menu. If information such as the designation, date and the amount of the instalment for the planned payment have been entered, the planned payment is automatically collected in the folder “Scheduled payments”.

Settling scheduled payments of the payment plan

Each scheduled payment can be invoiced individually. To do this, open the respective payment from the project that you want to charge and select the item createinvoice for scheduled payment” in the menu.

Create the final invoice of the payment plan

All planned payments per project are invoiced via a final invoice. This is created via the respective project. The final invoice shows all services recorded on the project.

Our accompanying Blog Articles  provides more details on payment plans in Vertec.