Allow your customers to extend the due date on their invoices

Give your customers added flexibility to extend the due date on their qualifying invoices. This provides customers with multiple flexible payment options:

• Net 30 and Net 60 invoices can be extended by 30 days
• Net 30 invoices can be paid via installment plans, with 30 or 60 day durations

Avoid any friction with your customer relationships, and help them avoid late fees or impact on their business credit due to late payment by enabling the option to allow due date extensions. 

Key things to be mindful of when allowing invoice extensions

• Enabling this feature will allow all of your eligible customers to receive an offer to extend their due date by 30 or 60 days on invoices with an advance rate less than 100%
• Allowing extensions when you invoice your customers and receive an advance rate lower than 100% can impact your cash flow. The payout you receive will be delayed by 30 or 60 days if your customer elects for an extension
• This feature will allow eligible customers to extend the due date by 30 or 60 days regardless of what terms options have been configured in your merchant account. For example, a customer could extend a net 60 invoice by 30 days (to net 90) even if you do not typically offer net 90 as a term length
• All customers receiving invoices with a 100% advance rate can extend the due dates on their Net 30 or Net 60 invoices, if in good standing. Enabling this feature simply allows customers to extend due dates for your partial advance (less than 100%) invoices. 

Which of my customers can extend the due date on their invoices?

For your customers to be eligible, they must be in good standing (no open past due invoices). The feature applies to Net 30 or Net 60 invoices and must be enabled by you (the merchant) in order for it to be available. This feature is only available for invoices where a cash advance has been received.

How will my customers know if they can extend the due date on their invoices?

For qualified invoices, an "Extend due date" option will appear in the following places:

• The initial invoice notification email, and the reminder one day before the invoice is due
• The weekly and monthly statements will show which emails qualify for net terms extensions
• The Invoices page of your dashboard will show an 'Extend due date' button next to qualifying invoices

What flexible payment options can my customers choose from? 

• Extending payment terms by 30 days 
• Paying via monthly installments with a 30 or 60 day duration 
• Paying via bi-weekly installments with a 30 or 60 day duration 

How do I opt-in to offer payment extensions to my customers?

Simply log in to your dashboard, and navigate to the "Settings" page, then open "Customer settings". You will see a toggle to enable terms extensions. Optionally, feel free to reach out to your Customer Success Manager for assistance. 

What happens to outstanding payouts for invoices where I received a partial advance?

In the situation where you have an outstanding payout (e.g.; 50% advance rate invoice) that you expect to receive once your customer pays the invoice, this payout will be issued once the customer pays the invoice on the updated due date. If your customer opts to pay an invoice via installments, you will receive payouts on any outstanding payout amounts gradually (when installment payments are made).