Processing recurring payments for long-term contracts

Purpose

1. Automate the collection and management of recurring payments for long-term antique furniture restoration contracts.

2. Streamline client billing, reduce manual payment chasing, and ensure consistent cash flow stability.

3. Integrate invoicing, client reminders, payment reconciliation, and contract extension notices in one system.

4. Reduce payment delays, support multiple payment methods, and maintain comprehensive payment records for compliance.

Trigger Conditions

1. Contract initiation or renewal with recurring billing schedule specified.

2. Invoice generation at each billing interval (e.g., monthly, quarterly).

3. Due date approaching with no payment received triggers automated reminder.

4. Payment receipt triggers confirmation notice and updates contract/payment status.

5. Contract nearing completion triggers extension or closure workflow.

Platform Variants

1. Stripe

• Feature: Subscriptions API; Configure recurring plan with interval, amount, and webhooks for payment events.
  

2. PayPal

• Feature: Subscriptions REST API; Set up recurring payments with billing cycles and notification webhooks.
  

3. QuickBooks Online

• Feature: Recurring Invoices; Automate scheduled invoices and enable auto-pay for clients.
  

4. Xero

• Feature: Repeating Invoices; Set automation for regular billing with due dates and reminders.
  

5. Square

• Feature: Recurring Payments; Use API for automated invoice dispatch, payment, and status callback.
  

6. Zoho Books

• Feature: Recurring Invoice; Configure templates for automated billing and payment receipt workflow.
  

7. FreshBooks

• Feature: Automatic Recurring Billing; Automate client payments with saved cards and reminders.
  

8. Braintree

• Feature: Subscription API; Schedule, process, and manage recurring transactions with notifications.
  

9. Chargebee

• Feature: Automated Billing Rules; Set contract billing period, retries, and notifications.
  

10. GoCardless

• Feature: Mandate API; Direct debit for scheduled recurring payments and failure notification.
  

11. Recurly

• Feature: Subscription Billing; Set up accounts, plans, and webhook for payment lifecycle events.
  

12. Wave

• Feature: Recurring Billing; Configure automated invoices and integrate payment links.
  

13. Authorize.Net

• Feature: Automated Recurring Billing (ARB) API; Set up payment schedule and notification settings.
  

14. Sage Intacct

• Feature: Recurring Billing Module; Schedule contract-based invoices and integrate payment providers.
  

15. SAP Concur

• Feature: Invoice Automation; Connect scheduled vendor billing for contract fulfillment.
  

16. Salesforce

• Feature: Billing Recurrence Object; Configure workflow automation and Chatter alerts for payment events.
  

17. Oracle NetSuite

• Feature: SuiteBilling; Flexible recurring billing API and automated payment tracking.
  

18. Mollie

• Feature: Subscriptions API; Set schedule and integrate webhook for status changes.
  

19. Zoho Subscriptions

• Feature: Subscription API; Create billing cycles, reminders, and payment status triggers.
  

20. Intuit Payment Solutions

• Feature: Recurring Payments Gateway; Set up scheduled transactions, receipt, and reconciliation.
  

Benefits

1. Eliminates manual billing and payment follow-ups, reducing overhead.

2. Ensures steady, predictable revenue collection for restoration contracts.

3. Improves client experience with timely, automated notifications and convenient payment options.

4. Provides audit-ready records and compliance via automatic logs of all payment events.

5. Seamlessly adapts to contract changes, extensions, or cancellations with minimal intervention.