RTO Pro Help File

Partial Payment Options

Partial Payment Options

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Partial Payment Options

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Methods for handling partial payments:

We are often asked how can I keep a customers due date the same day of week or month. The easiest answer is to not accept partial or extra money that is not a full payment(s), their due date would always fall on the same day of week or month if you do this. Other options are discussed below.

 

1. Use default handling, when partial payments are paid let the system advance the date accordingly, if they pay 3 days of rent their next due date should advance 3 days. When partial payments are applied the rent is broken down into a daily rate and their due date is advanced the number of full days their partial payment pays for. For instance if it is a weekly contract @ $7.00 a week, if they pay anything between $4.00 and $4.99 it will advance their due date 4 days. If they pay $5.00 it will advance their due date 5 days.

 

2. When partial payments are received or extra money is paid apply the partial amount to customer deposit, keep the funds in the customers deposit until they have enough to pay the full payment(s). So for instance if a customers payment is $100 a month and you get a $60 check, put the $60 into deposit, do not put anything toward the rental, then when they send the additional $40 apply the $40 check + the $60 in their deposit to their full payment. This method requires employee training so they know what to do with partial payments. This method requires customer training so they know only full payments will be applied to their account.

 

The option below should only be used if you read and fully understand what it explains below and make sure your employees and customers understand it. This is NOT recommended, use at your own risk.

3. The last option is one that should be read and understood thoroughly before it is enabled, it is discussed below. This is a custom feature we added for a group of shed rental companies, it was designed to their specs. Some stores love this feature, others have tried it and says it causes nothing but confusion and turn it off after a month or two, and turning this feature off requires some manual work to get your records all straight again(see below for more info). This method requires a lot of employee training and customer training and we do not recommend using this feature. See more details about this feature by clicking here.

 

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