Requirements You will need your own MODRON Spaces account. If you don’t already have your own account, we invite you to try the platform totally free.
- Step 1. Setup your Incoming Payment Account
- Step 2. Select the Setup Account option
- Step 3. Enter the Account Owner details
- Step 4. Enter the Legal Entity details
- Step 5. Enter the Payment details
- Step 6. Incoming Payment Account setup completed
- Step 7. Create an invoice for payment of services
- Step 8. Complete the necessary details of your invoice
- Step 9. Preview your invoice and submit it when you are satisfied
- Step 10. Your invoice is posted to the Space
- Step 11. The recipient(s) can quickly and easily pay the invoice
- Step 12. You are notified when the payment has been made and the funds are deposited into your nominated bank account
Step 1. Setup your Incoming Payment Account
First you need to setup your Incoming Payment Details so that you can receive funds to your nominated bank account. Following steps 1-6 covers this setup process. If you have already setup your Incoming Payment Account, you can skip to Step 7 which looks at creating an invoice.
Step 2. Select the Setup Account option
Step 3. Enter the Account Owner details
Step 4. Enter the Legal Entity details
Step 5. Enter the Payment details
Step 6. You should have now completed your Incoming Payment Account setup
Step 7. Create an invoice for payment of services
To create an invoice, you first need to have a case created. If you need help with how to create your case, check out this blog post here.
From within your case you then navigate to the appropriate Space for sharing your invoice. For this guide we will share an invoice in a Space we have created called Applicant Space which has been set as a Space for the Applicant and the Operations Team to collaborate. By creating and posting an invoice to this space it will be private and confidential to the Applicant, although you could post your invoice in any Space within your case that makes sense relative to the intended recipient.
Step 8. Complete the necessary details of your invoice
First select who will be the recipient of your invoice, please note that only those users with access to the space will be available to select here.
Then you also need to add a description for your line item, a quantity and a price. You can add additional line items by clicking the Add line item option. At any time, you can click the Preview Invoice option to see what your invoice will look like to the recipient.
Step 9. Preview your invoice and submit it when you are satisfied
Step 10. Your invoice is posted to the Space
Step 11. The recipient(s) can quickly and easily pay the invoice
Step 12. You are notified when the payment has been made and the funds are deposited into your nominated bank account
If you have followed the steps, you will have setup your Incoming Payment Account and will have created and shared an invoice that the recipient(s) could then pay for through the platform. Any number of invoices can be sent at any time throughout a case giving you flexibility and control to implement milestone payments etc.
“Accept all major debit and credit cards from customers in every country. Supports processing payments in 135+ currencies, allowing you to charge customers in their native currency while receiving funds in yours. Have a think about the potential use cases in your own dispute resolution processes.”
If you don’t already have your own MODRON Spaces account, sign up for a free trial and see how easy it is to setup your own Spaces, your way.