SalesGuide > Sales > Setting Up the Sales Module > Settings Specific to Layaway > Defining Minimum Payments and Down Payments
Defining Minimum Payments and Down Payments
Define layaway payment requirements on the Payments tab. These settings will determine the minimum payments customers can make for their initial down payment as well as the periodic layaway payments.
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You can define the minimum down payment as either a dollar amount or a percentage of the total sale.
If you choose the Dollar option, the down payment is the dollar amount you enter no matter the price of the layaway. If you select the More or Less option, the dollar amount is compared to the percentage of the total sale and whichever amount is more/less is the required payment.
Let’s say your minimum dollar down payment is $25, the percentage is 10%, and you select the More option. If the layaway amount is $300, the down payment is $30 based on the percent. However, if you select the Less option, the down payment is $25 based on the dollar.
If you choose the Dollar option, you can leave the Percent field blank.
Select the Help button in the software for information specific to the options in this window.
Published date: 11/22/2021