Automatic collection

To increase collections and revenue, MonetizeNow allows you to automatically collect payments from your customers when Invoices are due.

How does it work?

When the following conditions are met, MonetizeNow will attempt to collect funds from the default Payment Method on the Bill Group:

  • Bill Group has automatic collection turned on
  • Invoice has been created
  • Invoice due date is today
  • Invoice amount outstanding > 0

Accept partial payments

Sometimes, your customer may want to split their Invoice payments. A couple common situations:

  1. Multiple business units at your customer uses your software. Instead of asking their accounting team to make 1 payment and split among GL accounts, they'd prefer to make 2 payments against a single invoice.
  2. Your customer may want to pay their invoice(s) in installments. They may have negotiated with your team to make smaller payments over a longer period of time rather than churning.

We know that accepting partial payments may not be right for your business though, so we leave it to you to turn on in Payment settings.