When creating a new recurring schedule, you have two options:
From the cashier screen, you can choose take an initial payment today and create the recurring schedule at the same time, by choosing the Initial Payment + Recurring Schedule button.
Or you choose to set up a recurring schedule with the first payment processing out into the future, by choosing the Recurring Schedule button.
Whichever option you choose, you will need to complete the payment information in the check fields.
Then you will need to complete the Schedule information, beginning with Starting Balance. What is the total you plan to collect from this consumer? If the total is $1000.00, then enter $1000.00 in the Starting Balance field.
Next is setting up your Payment Terms, what is the dollar amount that the consumer agreed to pay you? And how often? Payment terms can be set up as Monthly, Weekly, or even by Days. For example if a consumer would like the payment to pull out every 15 days, you could enter 15 in the field after every and choose Days from the drop down menu.
You then choose from the Calendar what day the first payment should process and Click the Preview Schedule button.
A Preview of the Schedule will POP up and you can then confirm with the consumer that they want the payments to process on the dates indicated on the preview. If the consumer agrees (NACHA Regulations and Regulation E require a "Wet" Signature for Proof of Authorization on any PPD or PreArranged Payment, please click this link for information on how you can obtain a Wet Signature while setting up the Recurring Schedule), then you would click Confirm Preview.
You will then be directed to the final page that will summarize the payment information and clearly states that you have received the consumer's authorization to set up this PPD (Pre Arranged Payment Schedule) or Recurring Schedule. Proof of Authorization required by NACHA and Regulation E is a "Wet" Signature. For more information, click this link:
Click the Save Schedule button to save the information. You will be directed to final page stating the transaction has been processed successfully! And will give a summary of the transaction.