Payment Installments

Payment Installment

The Payment Installment module provides users with the functionality to manage installment-based payments in Sales. It allows you to set the tenure in months, define tenure amounts, configure different down payment options, create tenure plans, compute installments, make part payments, and print installment-based Sale Order and Invoice reports.

Enable Installment on Sales in Settings

To set up the Payment Installment in Odoo, follow these steps:

1. Navigate to the Sales App:
   Go to the Sales module and click on the Configuration menu.
2. Open Settings and Enable Installment on Sales:
   Scroll down to the Installment On Sales section and tick the checkbox.
3. Select Invoice Mode:
   Choose whether to create a Single Invoice (all installments under one invoice) or Multiple Invoices (each installment generates a new invoice).

When you select Multiple Invoices in the installment settings, the system automatically generates separate invoices for each installment based on the Days Before value. For example, if the Days Before field is set to 3, an invoice will be created 3 days prior to the installment's due date, and an email notification will be automatically sent to the customer.

On the quotation page, customers first see the product lines along with the total order amount. In the installments tab, the system then shows the selected installment plan with tenure, plan type, and start date. This helps customers clearly understand the overall order value and how the payment will be split into manageable installments.

When we create an invoice from the Sale Order, the installment details are automatically fetched. We can also make partial payments here. To pay an installment amount, simply click the Pay button.

You can Print Installments Details in PDF report From Sale Order and Invoice.

The system will send a Reminder Email to the customer, notifying them about pending payments or confirmations.