How to Create EMI and Installment Plans in CrmLeaf
All editions. Core feature - no add-on required.
Availability: All editions. Core feature - no add-on required.
Overview
An EMI plan lets a client pay a large amount in equal monthly instalments instead of in one payment. You record the principal, any down payment, the interest rate and the EMI amount, and CrmLeaf holds the resulting schedule of instalments so collection can be tracked against it.
How It Works
The plan is defined on the billing record, and the instalment schedule is what you then collect against.
Agree terms → Enter plan values → Generate schedule → Collect instalments → Complete
- An EMI plan holds the principal, the down payment, the interest rate, the EMI amount and the schedule of instalments.
- Each instalment is tracked in the schedule so you can see what has been collected and what is outstanding.
- Payments recorded against the billing move the invoice through
unpaid,partialand finallypaid. - Clients can pay online on the signed public payment page or offline through a configured offline method.
Who Can Use This Feature?
User
- Create an EMI plan with the agreed principal, down payment, interest rate and EMI amount.
- Review the instalment schedule.
- Record instalment payments as they are received.
Access depends on the modules and role assigned by your Administrator. Invoice visibility follows the ownership-based permission scope set for your role.
Prerequisites
- A client record must exist.
- The commercial terms - principal, down payment, interest rate and EMI amount - must be agreed with the client before entry.
- Currencies must be configured.
- To collect instalments online, a payment gateway must be configured for your company.
For Users
Step 1: Open the Invoices screen
What to do: Open the billing record the instalment plan applies to, or create the invoice first if it does not exist.
What to verify: The client and the total amount are correct before you set up the plan.
Step 2: Enter the plan values
What to do: Enter the principal, the down payment the client is paying up front, the interest rate that applies, and the EMI amount for each instalment. Complete every mandatory field, then select Save.
What to verify: The values match the terms agreed with the client.
Step 3: Review the instalment schedule
What to do: Check the generated schedule of instalments. Confirm the number of instalments and their amounts add up to the agreed plan, including the down payment.
What to verify: The schedule reflects the agreed instalment count and amounts.
Step 4: Collect the down payment
What to do: Take the down payment from the client, online on the signed public payment page or through an offline method, and record it against the billing.
What to verify: The invoice status is partial and the down payment is visible against the plan.
Step 5: Collect each instalment
What to do: Record each EMI payment as it is received. Continue until the schedule is complete.
What to verify: The outstanding amount reduces with each instalment, and the status becomes paid when the final instalment is recorded.
Field and Option Reference
| Field / Option | Description | Required |
|---|---|---|
| Principal | The amount being financed under the plan. | Yes |
| Down payment | The amount the client pays up front, before the instalments begin. | Yes |
| Interest rate | The rate applied to the financed amount. | Yes |
| EMI amount | The value of each equal instalment. | Yes |
| Instalment schedule | The list of instalments the plan generates, used to track collection. | Yes |
Expected Result
The EMI plan is saved with its principal, down payment, interest rate and EMI amount, and the instalment schedule is available to collect against. As instalments are recorded the billing moves from partial to paid.
Service Organisation Context
Instalment plans are less common in professional services than in financed installation work, but they do appear where a single agreed fee — a large implementation, an annual advisory retainer paid up front, a litigation engagement — is split into equal payments for the client's cash flow. The plan divides one agreed amount, so it is not the tool for a continuing retainer: a service organisation bills that with a recurring invoice, and bills work beyond a fixed fee from approved billable time. The same plan is used more heavily in Solar and Construction accounts, where a financed installation is paid down over a schedule.
Important Notes
- Menu names and their position can differ between product editions and can be customised for your account, so your sidebar may not match these paths exactly. Use Search or your Quick Access items if you cannot find a screen.
- The interest rate and instalment amounts are values you enter. Confirm them against the agreement before saving, because they drive the schedule.
- An EMI plan is not the same as a recurring invoice. An EMI plan splits one agreed amount into instalments; a recurring invoice raises a new invoice each period.
- Recording every instalment is what keeps the outstanding balance accurate.
Common Scenarios
Example: financing an installation. A client cannot pay the full installation cost up front. You agree a down payment and 12 monthly instalments, enter the plan values, and collect against the schedule.
Example: an interest-free instalment plan. You agree to split the amount with no interest. You enter a zero interest rate, and the schedule simply divides the balance into equal instalments.
Troubleshooting
| Issue | Possible Cause | Resolution |
|---|---|---|
| The schedule totals do not match the agreement | The principal, down payment, interest rate or EMI amount was entered incorrectly | Use Edit to correct the plan values and review the regenerated schedule. |
| The billing still shows a balance after the last instalment | One or more instalment payments were never recorded | Record the missing payments against the billing. |
| The client cannot pay an instalment online | No payment gateway is configured for the company | Ask your Administrator to configure a gateway in the payment gateways settings area. |
Frequently Asked Questions
What values define an EMI plan?
The principal, the down payment, the interest rate, the EMI amount and the resulting schedule of instalments.
Can the client pay instalments online?
Yes, if a payment gateway is configured for your company. Offline methods can also be used.
Is an EMI plan the same as recurring billing?
No. An EMI plan divides one agreed amount into instalments. Recurring invoices raise a new invoice for each period.
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