Create Payment Streams
A payment stream is what we call the payment or billing plan you intend to offer your customers, clients or students. Each stream is completely configurable to your business needs.
Go to the Payment Stream tab and click on "Create a Payment Stream". You'll be greeted with a screen that asks for further detail about your payment stream:
- Automatic Payment Streams: Payments will be processed automatically on the date(s) and frequency specified.
- Invoicing Payment Streams: Invoices will be automatically emailed to customers on the date(s) and frequency specified. Each invoice includes a Pay Now button and login credentials to a secure, hosted My Account page where your customer can select which invoice(s) to pay. Payments are not automatically processed with this option.
- Stream Term: You can choose between a fixed amount of time (e.g., 4 payments or unlimited payments).
- Frequency: choose from Daily, Weekly, Twice per Month, Monthly, Quarterly, and Yearly.
- Initial Fee: An additional charge (e.g., a setup fee) that will occur only with the first payment.
- CC Surcharge: The Credit Card Surcharge allows you to offset the cost of credit cards by applying a surcharge to your customers who pay by credit card.
- Items: Create new items or add those you’ve already created/imported.
- Customer Section: Add your customers, clients or students to the stream. Each customer can be assigned an optional discount, a start date, and up to two tax codes.
The process of creating a Payment Stream includes associating item(s) and customer(s) with the stream. When creating a Payment Stream, you can have unlimited items and customers. Items and Customers can be created on their own, or when you are going through the process of creating a new payment stream.
If you need to apply Sales Tax to some or all transactions, you will need to have imported a list of Sales Tax Codes from AccountEdge®, QuickBooks® Online or your Xero account. You can also create the tax codes and rates in Rerun, before creating the Stream.
Creating a Payment Stream:
- Click on the Payments tab
- Click "Create Payment Stream" at the bottom of the page
- Enter the name of the stream
- Indicate a Stream Type of either Automatic or Invoicing, and the number of payments, or select unlimited (runs until you pause or cancel)
- Select an item or create a new item and indicate its price
- Indicate the billing frequency (Daily, Weekly, Monthly, etc.)
- If the Payment Stream is set to monthly and the billing schedule is set on a specific date, you have an option to select "Variable Stream" &/or "Auto Prorate First Payment" if desired. However, please note: Once this is set, it cannot be changed or altered; the stream will have to be deleted and recreated if changes are necessary)
- Indicate whether or not the first payment should be prorated. This would be the case if a customer was being added between the payment frequencies.
- Select a customer or simply create a new customer
- On a per customer level, you can:
- Indicate whether or not a discount should be applied
- Indicate the stream start date, if applicable
- Select one or two applicable sales taxes for this transaction
- Select the number of payments for this customer. It would be the same as the number of Stream Payments if the customer is being added when the Stream is created. It could be less if a customer is being added to a Stream with a predetermined number of payments, and the Stream had already been started.
- On a per customer level, you can:
- Click Create Payment Stream after you've entered all the stream information