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Payment plans are especially important in orthodontic offices. Payment plans are created by clicking the Payment Plan button in the Account module.
You can set up unlimited payment plans, each with its own guarantor. The guarantor does not have to be in the same family as the patient, making divorce situations much easier. The payment plan shows in both the patient account and the guarantor account. The 'Go To' buttons let you quickly switch between the two accounts.
When you enter a payment plan, it will reduce the account balance of the patient you choose by the amount of the payment plan. For instance, if you do $2000 worth of procedures on a patient and then create a payment plan with a total amount of $2000, then the patient balance will be reduced back down to zero. The responsibility then falls to the guarantor to make the payments. The entire $2000 would not show as immediately due. Instead, the amount that will be shown in the guarantor account will be the Current Due amount from the Payment Plan window. The current amount due depends on a number of factors, including the downpayment, the monthly payment, and the date of the first payment.
To update the amount due for all payment plans every month, see the Payment Plan Update section.