Accepting SOR / Funded Instalments
If enabled, a 9-month universal instalment offer [can be changed upon request] is available on your client dashboard. They have the option to select their preferred invoices when arranging instalment payments by clicking "Select/View Invoices".
When a client chooses to pay in instalments, they will need to enter their payment details first and on the next page they will be asked to review the summary of instalments including the terms and conditions of the instalments.
Australia Merchants:
If instalments are paid via a credit card, there is an additional 1.45% merchant fee charged as well as 28c transaction charge. Because this is managed by a third party, we are unable to waive or absorb these fees. Neither of these fees applies where clients choose to pay instalments from their bank account.
When a client enters into an instalment arrangement, the debiting entity for the period will be One Box Holdings Pty Ltd. This will be reflected on their bank statements.
Request to change the instalment amount or debit date.
The instalment payment facility is fully automated. Hence, there is no flexibility to freeze/put on hold or change the first instalment date or subsequent instalment schedule. There is also no flexibility to combine different accounts in one SOR.
If the client wishes to be first debited on a specific day, e.g. 31st, then they should avail of the instalment on the 31st instead.
It is also important to remember that when a client chooses to pay in instalments, the system automatically divides the amount by the number of terms offered to them and the schedule will always start on the day that they choose to pay by instalment.
Once the client confirms the declarations required, the client will be debited for the first instalment and a copy of the agreement together with the schedule of payments will be sent to the client.
SOR Client Communications
Provided that communications are enabled and the client has an email address in Apxium (imported from your accounting package), below are the sample emails that the client will receive.
If the client chooses to pay using their bank account, a pending payment confirmation will be initially sent to the client and will undergo the usual bank clearing process.
They can also see a copy of these notifications when they access the View Menu on their own portal.
Multiple SOR Instalment Schedule
If the SOR requirements are met, the client can also enter multiple SOR instalments if they wish to. i.e. minimum total SOR invoice amount is met.
When a client enters into a SOR Instalment Agreement, please note that they are not removed from the debtors' list.
The default page just shows all debtors with an outstanding amount that has no instalment or special payment arrangement in place.
You can always use the Filters menu to show all clients that are outstanding, with special payment arrangements such as SORs, on-balance sheet instalments, APX Direct debit invoicing etc.
This functionality was built in order for you to filter what you wish to see and this works well with our merchants.
