Installment Plans

What are Installment Plans?

Installment Plans let dealers split large or overdue balances into smaller, scheduled payments that are automatically charged over time.

This feature gives customers a flexible way to stay current on payments, while helping dealers manage collections and cash flow more predictably.

Benefits include:

• Predictable and structured payment schedules
• Reduced manual AR follow-up
• Easier management of past-due or high-value invoices
  
  

How to Create an Installment Plan

Installment Plans are created from the Upcoming Payments section of the customer’s Account page.

1. Go to the customer’s Account.
2. In the right-hand sidebar, under Upcoming Payments, click Create.
3. Select Installment Plan.
4. Choose the amount (specific invoices, statements, or a custom amount).
5. Set the number of installments, frequency, and start date.
6. Review the summary and confirm setup.
   
   

Once created, Toolbx automatically sends notifications to both Dealer and customer confirming the plan details and schedule.

Managing Installment Plans

In Dealer Admin

Dealers can manage all Installment Plans in Payments > Plans, under the Installment Plans tab.

From this page, you can:

• View and track plan balances, due dates, and overall status.
• Add internal notes for AR tracking.
• Close or deactivate a plan at any time.

In the Customer Portal

Customers can view their Installment Plans under Payments > Installment Plans, where they can see:

• Remaining balance
• Upcoming payment schedule
• Current plan status

Notifications

Event	Recipient	Details
Plan Created	Dealer + Customer	Confirmation of plan setup, with terms and payment schedule.
Pre-Due Reminder	Customer	Reminder before an installment is charged.
Successful Payment	Dealer + Customer	Confirmation after each successful payment.
Failed Payment	Dealer + Customer	Notice with retry and resolution steps.
Plan Completion	Dealer + Customer	Notification once the plan is fully paid.

All messages copy billing contacts and include links to account details.

Failed Payment Handling

If an installment payment fails, Toolbx automatically retries based on a fixed schedule:

Attempt	Timing
1st Retry	3 days after the initial failure
2nd Retry	2 days after the previous attempt
3rd + Subsequent Retries	1 day apart (up to 4 attempts within 7 days)

After four failed attempts, the plan remains open until it’s manually reauthorized or canceled by the Dealer. Future payments are not attempted.

Dealers and customers can also retry a payment manually at any time — either by reattempting the same method or adding a new one.

Permissions

Access to Installment Plans follows the same AR permissions as Auto-Pay:

• Create Account Receivable Payments
• View Account Receivable Payments

By default, these permissions are available for users with the following Roles:

• Dealer Admin
• Finance
• Accounting
• E-Commerce
• Sales Rep

Note: Only Dealers can create Installment Plans. Customers can view and make payments on active plans but cannot create or modify them.

FAQs

Can a customer change their payment schedule?
No. Once an Installment Plan is created, only the Dealer can adjust or cancel it in Payments > Plans > Installment Plans.

What happens if a customer misses multiple payments?
After four failed retries, the plan remains open but paused until manually reauthorized or canceled by the Dealer.

Are Installment Plans automatically charged?
Yes. Each installment is automatically charged according to the schedule defined in the plan setup.

Will both parties receive updates?
Yes. Dealers and customers receive notifications for all plan events — creation, reminders, successes, failures, and completion.