Installment Terms
Installment terms allow customers to purchase billable items through easy-to-understand installment payments, expanding purchasing options for customers through flexible payment plans instead of requiring everything be paid up front.
- Installment Terms Overview
- This feature allows you to sell high-priced NSO products to your customers by letting them pay in installments.
- Create Installment Terms
- The article explains how to create and manage installment terms for high-priced non-subscription offerings (NSO) products, allowing customers to pay in installments. It details the steps to set up aligned and independent installment terms, and how to map these terms to NSOs for billing purposes.
Getting Started with Installment Terms
Prerequisites
- You offer customers at least one NSO in your product catalog.
- You have enabled the Email Template Class Installment Due Reminder (IDR) to notify customers of installments due for independent installment (here).
Note: Installment Due reminders are sent only to accounts with collectible statuses (using this Email Template Class). Communications will only be sent when an installment is marked as Active. No communication will be sent if the installment status is Completed, Cancelled, or Discontinued.
- You have contacted Aria Customer Support to add installment loops and replacement strings to account statement template to communicate installment due for aligned installment.
- Aria Customer Support has enabled the Installment Schedule Due if you plan to use "independent" installment terms (this only applies to Aria clients who implemented Aria before June 2024 and is already enabled for clients who implemented Aria post that date).
Step-by-Step
- Define Installment Terms.
- Map the Installment Terms to a Non-Subscription Offering (NSO).
- Add the NSO with Installment Terms to a plan.
- On an account, create an order and assign an installment term. You can also assign Installment Terms to an NSO purchase when you create an account via the API create_acct_complete_m.