Step 1: To begin the process of creating an early payment discount for a Payment Category, hover over ‘Payment Options’ in the main menu and select ‘Payment Categories’ in the drop-down menu that appears.
Step 2: Next, select ‘Add new’ to create a new Payment Category, or ‘Edit’ if the Payment Category has already been created.
Step 3: A pop-up box will then appear with the options for setting up your Payment Category.
One of the questions you will be asked is, ‘Offer an early payment discount?’ – select, ‘Yes’.
Step 4: Once you have selected ‘Yes’ additional fields will appear.
Here, you can select whether to discount the price by an amount or a percentage. Whichever you select, you will then insert a number that you wish to discount the price by.
Step 5: You will also select the date that payment is required on or by to be eligible for the discount. Once this date passes, so will the opportunity for a discounted rate. The system will automatically update any outstanding payment requests.
Step 6: Once you are happy with your choices and the rest of the Payment Category settings, click ‘Save and Finish’.
You will now have successfully added the option for an early payment discount to your Payment Category.