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Minimum Booking Value In Payment Plans
Minimum Booking Value In Payment Plans

How does the system calculate this value?

Edward Cooper avatar
Written by Edward Cooper
Updated over 2 months ago

When setting up your payment plans Here, you will be shown a Minimum Booking Value that a payment plan can be applied to.

Why is there a minimum booking value?

Every time you include a fixed amount in your plan, a minimum amount will be shown so that the plan makes mathematical sense. Let's look at the plan below.

Deposit = 1,000
Payment 2 = 25%
Payment 3 = 25%
Payment 4 = 25%
Final balance* Rolling

In this case, the system is saying the minimum balance is 4,000.

How was this calculated?

The schedule shows 75% of payments. The system will allow the final balance to be zero (and not a negative amount). So, the remaining amount of 1,000 must be the remaining 25% = total of 4,000.

This means you can only apply this payment schedule to a minimum booking value of 4,000 (100%) for it to make mathematical sense.

How do I reduce the amount of the minimum booking value?

  1. You can take out all fixed amounts.

  2. You can reduce the percentage amounts so that the fixed amount is a higher percentage of the total.

  3. Or you can manually add a payment plan to an individual booking if the ones you have set up are not working for a particular booking.

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