Payment Plans
Break large payments into installments, track payment progress, and link plans to invoices or obligations.
Payment Plans let you break large one-off payments into smaller, manageable installments spread over time. This is useful for large supplier invoices, equipment purchases, or any significant expense that you prefer to pay in stages rather than all at once.
Creating a payment plan
- 1
Navigate to Payment Plans
Go to Finance → Planning → Payment Plans from the sidebar.
- 2
Click New Payment Plan
Click the New Payment Plan button to start a new payment plan.
- 3
Set title and total amount
Enter a descriptive title (e.g. “Oven Purchase — Supplier ABC”) and the total amount to be paid.
- 4
Choose number of installments
Set the number of installments. Eleo will divide the total amount equally across the installments, or you can manually adjust individual amounts.
- 5
Set start date
Choose the date of the first installment. Subsequent installments are scheduled at regular intervals (e.g. monthly) from this date.
- 6
Link to an invoice or obligation (optional)
Optionally link the payment plan to a supplier invoice or a recurring obligation. This connects the plan to the original source of the payment and keeps your records linked.
- 7
Create the plan
Click Create Payment Plan to create the plan. It starts in Draft status and can be activated when you are ready to begin payments.
Plan lifecycle
Payment plans move through the following statuses:
- Draft — The plan is being prepared. Installments and amounts can be adjusted freely.
- Active — The plan is live and installments are being tracked against their due dates.
- Completed — All installments have been paid and the plan is finished.
- Cancelled — The plan was cancelled before completion.
- Defaulted — One or more installments are significantly overdue and the plan has been flagged.
Installment tracking
Each installment in the plan has:
- Due date — When the installment payment is expected.
- Amount — The amount due for this installment.
- Status — Whether it is upcoming, due, overdue, or paid.
Mark each installment as paid when you make the payment. The plan detail page shows a running summary of progress.
Payment progress
The plan summary shows you:
- Amount paid — The total of all installments marked as paid so far.
- Balance remaining — The total amount still owed.
- Percentage complete — A visual progress indicator showing how far along the plan is.
Linking to invoices and obligations
Payment plans can be linked to supplier invoices or recurring obligations. Linking connects the plan to the original financial record, making it easy to trace payments back to their source. When linked, the invoice or obligation detail page also shows the associated payment plan and its progress.
Payment plan detail showing installment schedule and progress
Use payment plans for large supplier invoices to manage cash flow effectively. Instead of a single large outflow, spreading payments across months keeps your cash reserves healthier and your cash flow forecast more predictable.