Customers can schedule a credit card payment to automatically charge their credit card based on the plan they request. They can schedule a credit card payment to charge the credit card weekly, monthly, quarterly, semi-annually, or annually. The customer can also request to have the credit card charged on a particular date in the future. Customers commonly schedule credit card payments for orders such as memberships, subscriptions, fundraising, etc.
The application creates a deferred receipt for the scheduled payment not yet due. This way, a balance due does not show up on the customer’s record. Every time a scheduled credit card payment processes, the application requests the credit card authorization, creates a receipt upon approval, and reduces the deferred receipt’s balance.
For more information, please see Managing Credit Card Payments on a Payment Schedule.