Account payments, purchasing on account, and the Account payment method

There are a number of ways to use account payments in your site, but many businesses simply want to allow their clients to buy  products on house credit. Depending on your business’s policies, clients can purchase account credit ahead of time and use it on a future order, or accrue a negative account balance and pay it off at a later date. You’re free to use just one of these options, or both together—the choice is entirely up to you.

In the article that follows, we’ll first look at how to set up these account payment options, then dig into how these features can best serve both you and your clients.

Before you start

  • Creating payment methods requires the owner login, or access to the “Set up payment methods” staff permission.
  • To create an account payment, staff must have the “Pricing options,  account credit ” staff permission enabled.

Terms 

  • Account payment: An item you create in your site that a client can purchase using cash, a credit card, check, etc. The purchase results in account credit.
  • Account credit: Credit that can be used to pay down a negative balance or to create a positive balance for use on future purchases.
  • Purchases on account: – A client can purchase a service or product using their house account, similar to running a tab. In Retail, purchases on account are made using the Account payment method.
  • Account balance: – A client’s house account balance, which can be negative, positive, or $0.

Terms 

  • Account payment: An item you create in your site that a client can purchase using cash, a credit card, check, etc. The purchase results in account credit.
  • Account credit: Credit that can be used to pay down a negative balance or to create a positive balance for use on future purchases.
  • Purchases on account: – A client can purchase a service or product using their house account, similar to running a tab. In Retail, purchases on account are made using the Account payment method.
  • Account balance: – A client’s house account balance, which can be negative, positive, or $0.
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