Business Snapshot Payment Term set up instructions

On the Finance tab of the wizard, the payer has to be chosen first. Related to business bookings, often the Paying customer should be chosen.

In the second section, it has to be chosen if the payment term is meant to be used for Business Snapshots or not:

• Do not use for business snapshots = to be chosen for all regular bookings, not being business snapshots

• Use for first business snapshot = to be chosen to define the payment term of the first business snapshot, which is the snapshot created when the reservation has been m

• Use for subsequent business snapshots = to be chosen to define the payment terms of the subsequent snapshots, which are the snapshots created because of a change in the reservation.

• Periodical invoicing = to be chosen to create payment terms on a periodical base. E.g. each month.

The configuration of the Periodical invoicing is a bit different.

In the drop down of “What is the due date?” some extra choices have been added related to the snapshot.

Before it can be decided what option should be chosen, it’s good to understand what options could be chosen in the the Rule configuration.

What Kind of rule is this?: This refers to what type of payment will need to be made.
There are 4 possible choices:

• Absolute: This is a fixed payment amount that is the same, independent of any other factors. The absolute rule is setup with a fixed value (i.e. 200 €).

• Relative: This is an amount that depends on other factors such as previous payments made. The relative rule is setup based on a percentage value (i.e. 25%).

• Remainder: This refers to everything that still needs to be paid.

• Snapshot_by_frequency: This option enables a function to define the frequency of the installments between Arrival date ans Departure date.

• Snapshot_by_calendar: this option will give invoices with installments for the end of each month between arrival date and departure date of the reservation.

The option snapshot_by_frequency will give the options as shown in the screenshot.

A periodical invoice based on frequency, will always create invoices for parts of the stay in the frequency which is defined.

The option snapshot_by_calendar will show the following:

For each month or part of a month a snapshot will be created. The rent will be calculated based on the valid price rules for the specific periods. When there is only one price rule for the whole period, the amount will be divided into equal parts. The same will be done with the amount for add-ons.

Back to the configuration of the term:

• Snapshot creation date will result in a due date equal to the snapshot creation date for all snapshots, except for the last one. The last one is defined by “What is the last due date?”.

• Snapshot start date will result in a due date equal to the start date of each snapshot, except for the last one. The last one is defined by “What is the last due date?”.

• Snapshot end date will result in a due date equal to the en date of each snapshot, except for the last one. The last one is defined by “What is the last due date?”.

“What is the last due date?” defines the last due date of the last snapshot. This date can be based on the arrival or departure of the reservation.

Choosing for Due date = snapshot start date and Last due date = arrival date, will result in all snapshots having a due date equal to it’s start date, except for the last one. This will have a due date equal to the arrival date of the reservation.