How to Handle Multi-Pay Invoices With SegMetrics
Welcome to SegMetrics, where we're dedicated to simplifying your marketing attribution process. In this guide, we'll walk you through handling multi-pay invoices—a useful feature for businesses with diverse payment structures. Understanding this process ensures accurate tracking of revenue and attribution across various payment installments.
By the end of this documentation, you'll understand how to manage multiple payment invoices inside of SegMetrics.
- Understanding Multi-Pay Invoices
- Creating a Multi-Pay Invoice
- Managing Multi-Pay Invoices
Understanding Multi-Pay Invoices
Multi-pay invoices are crucial for businesses that accept payments in installments. They provide a comprehensive view of revenue streams, allowing for accurate attribution and performance evaluation. Continue reading if your business accepts payments such as multi-pay invoices.
Benefits for Your Attribution Analysis
Multi-pay invoices provide an easy way for your customers to purchase higher ticket items in installments.
Scenarios where multi-pay invoices might be essential:
- High-Ticket Item Sales
- Custom Payment Arrangements
Creating a Multi-Pay Invoice
Many payment processors such as Stripe and PayPal allow businesses to create multi-installment billing while retaining a single invoice number.
However, managing these multi-pay invoices inside of SegMetrics might not be immediately obvious and will require a bit of manual set up work.
Out of the box, standard payment providers such as Stripe and PayPal generally send each payment through their API’s with unique ID numbers, making it seem as though each payment is a separate invoice.
If you’d like to better manage those instances inside of SegMetrics, we suggest manually updating your invoice numbers inside of the respective payment process where possible.
For example, let’s say the main invoice number for a multi-pay installment plan is as follows:
Now, let’s say there are 3 installment payments under that individual invoice. To better track those payments in SegMetrics, it’s essential to retain the main invoice number (9677543) and append it with a unique extension, such as follows:
Note how each payment retains the same main invoice number, but appends a unique identifier to the end. This is where you’ll want to manually update those invoice numbers inside your payment processor.
Reporting on Multi-Pay Invoices
To report on multi-pay invoices:
- Open up a new Orders report inside your account.
Click +Add Filter.
Select the Purchased Product option.
Select the Order ID option.
Enter the Order ID (invoice ID) without the added extension in the last section.
- Click Confirm.
Click the = sign, then select the Contains option.
- Now the report should return any invoice containing the specified invoice ID number.
Reference to Other Support Documentation
For advanced reporting options, explore our guide on Customizing Reports in SegMetrics.
Frequently Asked Questions
Q: Can I set up different installment amounts for each customer?**
A: Yes, SegMetrics automatically pulls in the invoice amount from the connected payment processor.
Q: Can I cancel or delete a multi-pay invoice after it's been created?
A: SegMetrics does not automatically delete invoice data. Please reach out to us for support on how to remove unwanted invoices from your account.
By mastering multi-pay invoices in SegMetrics, you're poised to enhance your revenue tracking and attribution accuracy. Should you have any further questions, our support team is here to assist. Happy tracking!