There are some advanced options which you can activate when you set up your plans - we’ll describe how to change them, and what they are used for.
To begin, make sure you are in the autobilling module by selecting the “Autobill” option under the "Settings" menu located to the right of the Regpack logo.
To edit the advanced option of a plan, mouse over the name of the plan and click “edit plan”
To the right of the title and the admin only option are the advanced options, which are broken into three separate categories - we’ll go through each
- Lock user into plan after first payment - this locks the plan so that the applicant cannot remove it once the first payment has been made. The plan can still be removed or replaced by the admin of the system.
- Lock user into plan after selected - This locks the plan as soon as they select it. Again the plan can still be removed or replaced by the admin of the system.
Advanced Calculation Options
- Fixed payments alter how percentage payments are calculated - This is a really useful option when you have a deposit of a fixed amount, followed by a series of percentage payments.
Take the following example: Your product is $1,000, and you offer a payment plan with a $200 deposit, followed by four installments of 25% each. With this option turned “on”, the remaining installments would each be .25*$800=$200. The key is that this calculates percentages off of the total *after fixed payments have been accounted for*
With the option turned “off”, the next three installments would each be .25*$1,000=$250, with the final balance collecting the remaining $50. The key is that this calculates percentages off of the *total*
- Evenly distribute percentage units with past dates to future units - This option is really useful whenever you have a multi-installment payment plan (like the first of the month for six months, or something like that). Essentially it chops up installments which they missed and distributes them out evenly over the remaining installments. Turning the "Include balance when distributing percentage units for past dates" will include the balance (the final unit of any plan) as one of these installments. This is generally recommended for monthly installments. Turning "Include balance when distributing percentage units for past dates" off will distribute the missed payments over every unit *except* for the balance.
Let’s take an example - Let’s say you have a plan with a deposit of $100 and then five installments, paying off a balance of $1,100. Each installment of 20% of the remaining balance (after the deposit) is charged on the first of the month, starting May 1st. If the applicant chooses the plan on April 13th, the plan might look like this:
But let’s say that instead, the applicant tries to make their first payment on May the 13th, missing the first installment date.
If you have the option turned “on”, the remaining payments would look like the plan below. The key is that the missed installment is neatly chopped up and divide over the remaining installments.
If you have it turned “off” the remaining payments would look like the plan below. The key is that the missed installment would simply be grouped in with the initial deposit, resulting in a larger initial payment.
Product categories plan considers
This option is used when you just want a payment plan to apply to a specific set of products. This option is great when you offer a very expensive product or service which should be paid off in installments alongside other products or services which are less expensive and should be paid off immediately.
When you turn on the “Plan applies only to specific products / product categories” option, you will be taken to a separate window where you can specify which product categories this payment plan should calculate based on. You are able to have a plan apply to one or multiple product categories, and you need just need to click select next to the categories you want. The key to success with this option is to make sure that you account for all of the product categories that help determine the price (discounts, we’re looking at you!)