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Custom Payment Plan for All Kinds of Clients

(Note: the below is what the payment plan looks like, the calculations are correct and have not been manipulated however the unit information shown is an example.)

Dynamic, Simple & Advanced

The payment plan was designed and created over the course of a few years with different kinds of requests from clients that needed extensive calculations.

These were developed over time in such a way that either the Sales Team employee wouldn't need to do a lot of work and/or (for custom payment plans) the Administration and Operations department would not need to invest hours in creating a custom payment plan for the customer.

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Here is an overview of the payment plan that was provided to the customers. 

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Ease in use, speed in creation

The Sales team member would only need to fill in the following small table. 

  • Client Name

  • Unit ID

  • Discount (if applicable)

  • Currency (auto-currency conversion extracted from Google Finance

Detailed Payment Plan

This page would illustrate the client the payment plan and the values that will be due on their specific dates. 

The Payment plan is calculated in such a way that it is always correct to the last integer and the decimals are calculated within the first instalment. This would  make the Payment Plan always have correct values rather than the sum not matching to the unit price.

The Payment Plan illustrated is a 7 year payment plan where the instalments were done quarterly.

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Versatility

The client had different payment plan lenghts available, here, the payment illustrates a 2 year payment plan with all the unit information available below.

To verify the payment plan, it was always tagged with the sales team member name, the date and a custom code for the type of settings used.

Availability right in the Payment Plan

The availability is always updated with that of the Operations and Administration department to avoid selling a unit multiple times. 

It automatically updates as soon as the sheet was opened.

Customisability

Each payment plan is customisable with different settings for the customer to use. of course, there were guidelines that needed to be met for it to be approved. 

All the changes also reflected above to ensure that the information modified is correct.

Changes that can be done instantaniously:

  • Deposit Percentage

  • Contracting

  • Additional % <Delivery (used for front or rear loading)

  • Extra Check <Del (used when the client reqests extra instalments before or after the delivery, unconnected with after delivery)

  • Extra Check >Del (used when the client reqests extra instalments before or after the delivery, unconnected with before delivery)

  • DST (discount)

  • Delivery

  • Maintenance

  • Interest Rate (Yearly)

Demonstration (Video)

Here is a video demonstration of the payment plan.

Note. the payment plaasn show here is a different version than shown above.

Examples of the formulas used

=IF(AND(J$10<0,Interest2>0),"",Currency2&TEXT(ROUND(((UnitPrice*(1-Discount2)*(100%-DelPer2-Cntrcting2-ExtraBD2-ExtraAD2-BeforeDel2-Deposit2))/$C$9)*ExchR*((1+Interest2)^$O19),J$10)+
ROUND(((UnitPrice*(1-Discount2)*ExchR*BeforeDel2)/$Q$12),J$10)*((1+Interest2)^$O19),"#,###"))

=IF(AND(J$10<0,Interest2>0),"",Currency2&TEXT(ROUND(UnitPrice*(1-Discount2)*ExchR,0)-
ROUND((UnitPrice*(1-Discount2)*DelPer2)*ExchR,0)-
ROUND((UnitPrice*(1-Discount2)*BeforeDel2)*ExchR,0)-
ROUND((UnitPrice*(1-Discount2)*Cntrcting2)*ExchR,0)-
ROUND((UnitPrice*(1-Discount2)*ExtraBD2)*ExchR,0)-
ROUND((UnitPrice*(1-Discount2)*ExtraAD2)*ExchR,0)-
ROUND(((UnitPrice*(1-Discount2)*(100%-DelPer2-Cntrcting2-BeforeDel2-ExtraBD2-ExtraAD2-Deposit2))/$C$9)*ExchR,J$10)*($C$9-1)-
ROUND((UnitPrice*(1-Discount2)*ExchR)*Deposit2,0)+
ROUND((UnitPrice*(1-Discount2)*ExchR*BeforeDel2),0)-(
ROUND(((UnitPrice*(1-Discount2)*ExchR*BeforeDel2)/$Q$12),J$10)*($Q$12-1)),"#,###"))

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