Momentus Elite has two ways to handle deposits and payments towards events: Invoice Schedules and Payment Schedules.
Invoice schedules have a lot of functionality and can be used throughout the event life cycle:
- You are able to create one or more templates which outline your standard installment plans.
- Installments can be specified as a flat amount, a percentage of charges, or the remaining balance on the event. The schedule will do the math for you!
- Deposit invoice can be created with just a couple clicks.
- These installments can be listed on contracts just like payment schedules.
- You are able to have a report or dashboard listing all invoices which need to be issued.
For more information about adding and using invoice schedules, please see these articles:
Payment schedules are simply a list of requested payment amounts and due dates. Payment schedules allow you to list payments and due dates on contracts, invoices and other documents.
For information about payment schedules, please see Add and Edit a Payment Schedule.
Which feature should you use?
- If you are going to send the client an invoice for deposits, we recommend using invoice schedules. While deposit invoices can be created ad hoc, invoice schedules will simplify the process.
- If you need to obtain a deposit from more than one client on an event, invoice schedules will allow you to "assign" charges to each client.
- If you only want to list deposit amounts and due date(s) on a contract, payment schedules will suffice.
- We recommend choosing one workflow, rather than switching between the two.
Please feel free to contact us to talk through these options and strategize what is best for your venue's workflow!