Creating Payment Plans

Instalment Method

In order to create a payment plan the dentist will need to first chart out the entire COT that they will be doing on the patient to give the total price of treatment. Once the estimate is created

1. Click on the payment plans tab

2. Click on and add the description, provider. The date field will automatically populate and the review date will show as a year in the future – the review date can be used for the practice to track if the treatment is going on longer than expected and may require more treatment at a greater cost.

3. At the bottom of the create payment plan screen the first instalment date will be automatically set to the date you have created the payment plan and can be changed as necessary.

4. The first instalment amount is usually the deposit and will be higher than the subsequent instalments. Enter the instalment amount and the instalment frequency (Instalments Every) and the number of instalments will be automatically generated.

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5. Then press OK. You will now be prompted to select if you would like to invoice the first instalment now (only say yes if you want to charge this to the patient immediately).

The Preset Method

If the you decide to use a preset payment method this is usually where they have an external finance company that will pay you outright for the treatment when it starts. This option will automatically charge the patient the total amount of the estimate (there will be two invoices one for the interest amount charged by the finance company and one for the actual money you have received).

If this is the method you are using you will need to enter 1 in the number of instalments then click into the Method box and select the finance company you are using.

If you have not configured this please view the following article https://soeidental.atlassian.net/wiki/spaces/PHS/pages/2014642220 .

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Now that the payment plan is set up select OK and you will be prompted to invoice todays instalment now. If you have set the days under the preset method setup as 0 this will be the interest amount - You can write this off under the patient transaction record as this is not money the practice will receive.

Once you have received the payment from the finance company you can invoice the remainder of the payment which will create a record on the transactions tab. You can now add a payment under the finance payment type to record this has been received.