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      How-to: Setup and use Dynamic Installments

      Do you launch your Trips far in advance and want to offer an installment plan that recalculates based on the number left at the time of booking? Use Dynamic Installments.

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      Why would I use Dynamic Installments?

      DYNAMIC INSTALLMENTS lets you automatically calculate the installment amount relative to when your Traveler books. 

       

      For example, for a $5,500 TRIP with a $500 deposit:

      • If the Traveler books 11 months in advance, they will be prompted to pay:
        • 10 installments of $500 each.
      • If the Traveler books 6 months in advance, they will be prompted to pay
        • 5 installments of $1000 each.

      How to enable Dynamic Installments

      1.  Select DYNAMIC PLANimage-png-Oct-21-2024-04-54-57-0909-PM
      2. Create the number of installments you want to offer to those who book as soon as you launch. Set up the due date and the label.


      5. When you set up the rest of the installment, they will show up a message. YouLi will calculate the amount of each installment for you based on when the traveler booked, the number of installments you set up, and how much the traveler owned.

      6. YouLi will calculate the amount of each installment for you based on the when the traveler booked, the number of instalments you set up, and how much the traveler owned.

      How to migrate a trip from FIXED/PERCENTAGE to DYNAMIC

      • If there are already payments made for the trip, you cannot migrate to the DYNAMIC model.
      • If there are no payments, start by deleting all existing installments.
      • Once all installments are deleted, you can begin adding the new installments using the DYNAMIC model.
      • Follow the guidelines for setting up dynamic installments, ensuring that each installment is correctly configured according to the new model.

      • Double-check the new instalment setup to ensure everything is correct and that the transition to the dynamic model is complete.

      How is the amount of each installment calculated?

      1. Deposit - is based on the amount you enter when creating it.
        • If you want it to be fixed, use this tip: set the percentage to 1% and round to the fixed amount you prefer (like 500)
      2. Dynamic Installments - how do they work?
        • We recommend naming the installment based on the month (or quarter)
        • You cannot enter the amount because the amount is dynamic

        • The amount of this installment will be based on the Traveler's remaining amount due after paying the deposit, divided evenly across the remaining Installments as of the Booking Date
        • Any Installments with a due date after the Booking Date will NOT be shown to the Traveler
      3. Balance Due - be sure to set a Due Date
        • There is always a Remaining "Balance Due" installment, EDIT to set the due date to ensure it is shown to Travelers.
        • The Balance Due will be whatever amount is left due after all other installments are paid. It will usually be the same as other dynamic installments, but could be different to account for rounding or other discrepencies.

      Traveler Experience

      • The installment plan shown to the traveler on Checkout is locked in once they pay their deposit, after that, catchup payments must be paid.
        • Change whether catchup payments include "due soon" payments under Account -> Payments
      • Reminders are only sent for installments due AFTER their Booking Date

      Manual Payments

      WARNING: Do not associate a manual payment with an installment that is due BEFORE the booking date or it will not appear on the invoice

       

      Watch our demo video to learn more:

       

      Troubleshooting

      Q: Why is a Traveler balance in the Payment Schedule showing as negative when their amount owing is positive?

      A: While this does NOT happen often, this could be because of an overpayment on the Deposit. This imbalances the amount spread across the remaining installments - leading to a negative balance. When could this happen?

      • A Manual Payment was made for much more than the Deposit (fix via Manage Payments)
      • Transferred from another trip where the deposit was higher 
      • Payment made for a invitation group member that was removed, thus doubling the Deposit allocation


      SOLUTION: Re-allocate the extra payment on the deposit to another installment (submit a ticket if you cannot do this from Manage Payments).

       

       

      Need more help? 

      Reach out to the YouLi support team via a chat box at the bottom of your screen or submit a ticket request. If you need more advanced support, schedule a 1:1 Consulting session with one of our experts, as we will walk you through the features and best practices.