Invoicing system allows merchants to manage recurring payments by creating a subscription record. This system offers flexibility and control over recurring billing schedules, giving merchants the ability to customize payments to suit their customers' needs.
Each subscription includes a payment schedule, which determines:
- The frequency of the invoices (e.g., monthly, weekly).
- The number of invoices to be sent (for fixed-term subscriptions).
- The amount of each invoice.
Subscriptions can have an immediate payment amount as well as the scheduled payments. If the subscription is for a set number of invoices (what is known as a fixed term) then an additional final payment can also be set.
Some example schedules are as follows:
• Regular payments of $95.00 every month
• An initial payment of $200.00, followed by regular payments of $75.00 every 6 weeks.
• 11 monthly payments of $80.00, followed by a final payment of $120.00
One of the main advantages of using an invoice based subscription system over standard recurring payment methods is that it allows the customer the option to use a different card for any given payment should they need to do so – for example the card they normally use may of expired, or may have been replaced. As each instalment is processed as a full e-commerce authorised transaction, as opposed to a continuous-authority transaction, there is also a much reduced chargeback risk.
Creating a new subscription
To create a new subscription, select the "Add new subscription" option from the menu. You will be directed to a page where you can enter the payment schedule and customer details. This allows you to set up the desired frequency, payment amounts, and any additional options for the customer’s subscription.
Subscription invoices in the system are created using Layout 1, which features a basic structure where each line contains a simple item description and cost entry. The item description will be the details you provide at the top of the 'Add new subscription' page, and the invoice amount will follow the pre-defined schedule set for the subscription.
Customer Details:
It is important to provide as much customer information as possible when creating a subscription. This information will:
- Be displayed within the invoice email.
- Be used to pre-populate the payment form, making it quicker and easier for the customer to complete the payment process.
When the subscription is created, if there is any immediate payment due an invoice will be generated at that point, otherwise the first invoice will be generated as per the instalment date given.
Each instalment invoice will be generated a few days before the actual due date. This gives the customer advanced notice of when the payment is due.
Existing subscriptions
To view and manage your existing subscriptions, click on the 'Existing subscriptions' menu option. This will show a summary of all current subscriptions, allowing you to track and manage each one.
Click on the ID of a subscription to see the complete details, including a list of all invoices generated.
You can click on an individual invoice title to view that invoice, at which point you will have the option to re-send that invoice. If the invoice has been paid, then you can click on the transaction ID to view the payment details.
To manage individual invoices, simply click on the invoice title to view the details of that specific invoice. Once inside, you have the following options:
- Re-send the Invoice: If needed, you can re-send the invoice to the customer directly from this page.
- View Payment Details: If the invoice has already been paid, you can click on the transaction ID to view detailed payment information, including transaction status and other relevant details.