For a builder, a booking is the start of a long money story. A flat booked today may pay in ten or more instalments over the next year or two. Multiply that by every unit in every scheme and collections become the hardest job in the office. Clear payment plans and a single view of what is due make the difference.
Set the plan once, apply it at booking
Define each payment plan as a set of steps, each a percentage of the total with a timing. When a unit is booked, applying the plan should generate the full schedule for that booking automatically. That removes manual calculation and keeps every customer on the agreed terms.
Track every instalment's status
Each instalment should have one clear status:
- Paid once the money is received and recorded.
- Pending while it is not yet due.
- Overdue once the due date passes without payment.
- Bounced when a cheque or payment fails, so it is followed up quickly.
Send documents from templates
Demand letters, receipts and allotment letters should come from templates you design once, with customer, unit, scheme and amount filled in automatically. Generating them in bulk for many bookings at once saves days at the end of each month, and keeping the generated copy on the booking means nobody hunts for what was sent.
Handle extra charges separately
Stamp duty, registration, maintenance deposits and similar charges are best tracked as separate heads on the booking, so the agreement value and the extra charges never get mixed up.
Plot plus construction bookings
Where a customer buys a plot and a house to be built on it, keep the two payment streams tagged separately on the same booking. Accounts can then see land and construction money on their own and together.
Review collections every week
Look at what falls due in the coming week, what is overdue and what bounced, by scheme and by unit. Large overdue instalments deserve a call the same day.
How BuilderCRM supports this
BuilderCRM applies your instalment plans at booking and generates the schedule. Instalments are marked paid, pending, overdue or bounced, and overdue ones are flagged automatically. Documents come from your own templates and can be generated one at a time or in bulk, with the copy stored on the record. Land plus construction bookings carry two tagged payment streams, and collection lists export to Excel.