Payment Plan Setup

Below you will find an explanation for each company setting along with the default values that are applied. These settings and rules will affect how payment plans are handled in your database. 

Company Settings

• Payment Plan - Max. Payment Plan Dollar Amount 
  • Description: This company setting will be used to determine the payment plan's total maximum dollar amount allowed.
  • Default Value: 0 = Disabled.
  • Business Use Case and Recommendation:  
    • If your practice does not wish to implement a maximum dollar amount for payment plans, this setting should remain 0 = Disabled.
    • If your practice wishes to set up a maximum limit allowed for payment plans, set up a value between 0 and 99000.
      • For example, to only accept payment plans for balances less than $5000.00, select 5000 as the maximum value.
• Payment Plan - Min. Payment Plan Dollar Amount  
  • Description: This company setting will be used to determine the payment plan's minimum dollar amount allowed.
  • Default Value: 0 = Disabled.
  • Business Use Case and Recommendation:  
    • If your practice does not wish to implement a minimum dollar amount for payment plans, this setting should remain 0 = Disabled.
    • If your practice wishes to set a minimum limit for payment plans, set up a value between 0 and 99,000.
      • For example, to only accept payment plans for balances greater than $500.00, select 500 as the minimum value.
• Payment Plan - Max. Installments Months. 
  • Description: This company setting will be used to determine the payment plan's maximum number of months that the installment payments can be configured for. This setting will look at the payment plan installment Start and End Date to determine if it's allowed or not.
  • Default Value: 0 = Not Set.
  • Business Use Case and Recommendation:  
    • If your practice wants to establish a maximum duration for payment plans, you can set a value between 0 and 99 months. 
      • For example, if you want to limit payment plans to a maximum duration of 36 months, you would select 36 as the corresponding value.
• Payment Plan - Min. Installments Months.  
  • Description: This company setting will be used to determine the payment plan's minimum number of months that installment payments can be configured for. This setting will look at the payment plan installment Start and End Date to determine if it's allowed or not.
  • Default Value: 0 = Not Set.
  • Business Use Case and Recommendation:  
    • If your practice wants to establish a minimum duration for payment plans, you can set a value between 0 and 99 months.
      • For example, if you want to limit payment plans to a minimum duration of 6 months, you would select 6 as the corresponding value.
• Payment Plan - Allow Recurring Payments 
  • Description: When turned on, this company setting will be used to permit recurring payments to be allowed for payment plans.
  • .Default Value: Checked = Yes/Enabled.
• Payment Plan - Minimum last payment.
  • Description: This company setting will be used to determine the minimum payment allowed as the last installment payment. If the amount for the last installment payment is less than this value, the amount will automatically be added to the first payment instead. You can establish your minimum last payment amount for payment plans by setting a value between 0 and 99 ($0 - $99).
  • .Default Value: 5 = $5.00.