Payment Collection Tools

Overview

Payment Collection Tools are used to help collect payment faster from your customers and reduce the amount of time inventory is sitting allocated and unpaid to orders. Payment collection tools include:

1. Grace Periods
2. Auto-cancellation
3. Payment Reminder emails
4. Reservation Fees
5. Cancellation Fees

*See below for definitions of each

Enabling Permissions

Permissions can be given to admin users by navigating to Settings -> System Users and navigating to Permissions for a given user. 

1. Can manage payment collection tools
2. Can view payment collection tools

Grace Periods

A Grace Period is an amount of time an order can remain unpaid or in the case of COD and Terms remain unfulfilled before being either canceled or entering a fee period.

The Grace Period is configurable by hours. During this period of time the buyer and sales rep will be prompted that the order will be automatically canceled unless it is paid or moved into fulfillment by the end of the grace period. If either cancellation fees or reservation fees are enabled for the buyer, the buyer can extend the time for the order. During that period a fee will be incurred every 24 hours past the grace period.

When auto-cancellation is set to ON, orders will be automatically canceled if the order policy has not been agreed to by the grace period cancellation date.

When auto-cancellation is set to OFF, order will need to be canceled by the sales rep.

Payment Reminder Emails

Up to three payment reminder emails can be configured. These emails can be configured at {n} hours before the grace period terminates. The emails will remind the buyer when the grace period ends and will prompt them to extend time on the order if they would still like to continue.

Reservation and Cancellation Fees

Reservation Fees

Reservation fees can be configured as a percentage of item value. By default this value is set as .1%. This means that for every 24 hours an item remains on an order past the grace period, a reservation fee of .1% will be charged. 

For example, if an order for 50 devices at a price of $450 per device remains unpaid or unfulfilled 3 days after the grace period, a fee of $67.50 will be added to the order (50 x $450 x .1% x 3).

Cancellation Fees

Cancellation fees can be configured as a percentage of item value. By default this value is set as .2%. This means that for every 24 hours an item remains on an order past the grace period, a reservation fee of .2% will be charged. 

Note that only one fee will be applied per item. 

Example 1: When an entire order is canceled after the grace period has expired, the Cancellation Fee will apply and no Reservation Fee will be charged.

Example 2: When a partial cancellation occurs after the grace period has expired, the cancellation fee will be applied for the canceled items and the reservation fee will be charged for the items that remain on the order.

Note: Reservation and Cancellation Fees can always be overridden while in Waiting For Fulfillment status.

Customer Overrides

For some customers you might now want the storefront Reservation or Cancellation Fee percentage to apply to them. You can always override this value from the Customer Detail page.

Accepting Order Policy

Before charging any fees, the Order Policy must be agreed to. If the buyer is not available to agree in app to the policy, the sales rep can do it on their behalf.