What Are Monthly Installment Contracts?
Monthly Installment contracts are a new, flexible option for marinas needing monthly payments with a defined contract end date.
This feature allows marinas to handle Monthly Installment contracts with flexibility, rather than using a Custom Installment contract (Previously known as Fixed Period installment contracts), which are best for contracts with fewer, spaced-out payments (e.g., 2-4 installments).
When Should I use a Monthly Installment Contract?
When a contract has a Monthly billing schedule with a defined end date (ideal for monthly cadence billing.)
Key Benefits of the Monthly Installments Contract Type
Edit the Contract Rate: Adjust rates easily during the contract period.
Enable Proration: Ability to prorate when necessary.
Apply Month-Specific Discounts: Offer discounts for a specific month or range of months, or apply discounts across all months.
Create Future Invoices: Easily set up invoices for upcoming months to streamline payment tracking.
Flexible Invoice Dates: Select any payment due date within the month. Payment dates are no longer restricted to the 1st of the month!
How to edit an active Monthly Installment Contract
Start by simply clicking the Edit button to the far right of the contract's billing item:
And select the edit needed! It's that easy.
Specific questions on how to best use or edit Monthly Installment Contracts? Reach out to our Support Team at [email protected] and we'll be happy to help!