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Today we're learning how to set up financial categories, plans, plan fees and plan add-ons in SwiftFox. By the end, you'll be able to create a plan that's ready for subscriptions, with future price changes and optional discounts or surcharges.

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Today, we'll cover how to create financial categories to organize your plans, setting up plans with anniversary or common renewal types, adding and managing plan fees, including future price changes and applying plans to customer profiles.

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You'll find Plans under Financial in Settings. Here is where you can create and manage financial plans and subscriptions.

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All plans need to belong to a category, so it's a good idea to set these up at the start. If you don't already have any setup, select Add Category. This will open the Manage Category drawer where you can create and edit these. We’ll select Add Category. Give your category a clear name such as “membership”. Leave multi Active subscriptions unchecked unless you want people to hold multiple plans in the same category. Select Save.

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Now we can set up our plans. Click Add Plan to begin configuring your new plan. Give your plan a clear name such as “Full Rate” to help identify it later.

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Next, choose a plan type based on how you want renewals to work. An anniversary plan renews on each customer's individual plan start date, while a common plan renews on a shared schedule for all customers.

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For example, if your membership aligns with the financial year, you would select common and set the Common Period date as the 1st of July.

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The plan category will default to the one you had selected, but you can also create a new category on the fly if needed. If you've already created planned add ons such as surcharges or discounts, you can add these here.

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If not, don't worry, we have a dedicated lesson that covers these in detail and they can be added later.

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Next you'll see line type for example; subscription and tracking codes. If you use these for your invoicing, we won't cover tracking codes in detail here as we have a dedicated lesson on this topic. If you accept nominated amounts from customers enable the Allow Custom Payment option.

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It is important to note that you can edit a plan until subscriptions exist. However, once people are subscribed, the plan settings are locked to preserve billing history. Once you're satisfied with your settings, select save. You'll be prompted to add fees to activate the plan.

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Fees define the price interval, currency, and timing for each plan. Select Add Fee to set up a new fee. Select your plan interval such as monthly or weekly and specifying the number of intervals between each bill. In most cases, the standard interval will meet your needs, but if you have a unique billing cycle, such as every four weeks, you can set the interval to weekly and the number of intervals to four.

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Set the effective date to determine when this fee becomes available. Choose a currency if you need it to be different from your default. Now you can set the actual fee amount. For example $210. This means someone on this fee will be charged $210 every four weeks.

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The final options here are optional and allow you to configure invoicing settings, specify whether the fee is tax inclusive, or adjust payment timing.

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You can also override the plans period for this specific fee. For example, a common plan fee can be set to behave as an anniversary fee. Select save to complete the process. Now you can repeat this process to add multiple fees for different intervals and future changes. For example, add a weekly fee of $50 effective this year at a monthly fee of $200. Effective this year. Add a future weekly fee of $60, effective 1st of January next year.

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All of these fees will appear organised by Status. Active, the most recent fee, whose effective date is in the past or today. Future, fees will start later, which are perfect for scheduled price rises and Expired, older fees that have been superseded by a newer effective date.

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It's important to note that you cannot completely delete a fee, as people may already have an active plan using any of these fees. Instead, you can archive a fee to hide it from subscription options so that no new plans can be activated under that fee. At any time you can unarchive It to make it available again.

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Let's now go to a person profile and see these plan options in action. Open a person's profile and head to the financial tab under subscriptions, select Create Subscription. You will see the plans you have added. Select one and then select proceed. The available intervals mirror the plans active non archived fees. If you can't see an interval, you expect to check whether that fee is archived or its effective date isn't current yet. Select the relevant payment option. Proceed and confirm. The subscription will now show in the table.

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Congratulations! You've successfully set up and applied your own financial plans. You're unstoppable! You can now create categories, build plans with flexible fees, schedule future price changes, and manage subscriptions with confidence. To continue exploring SwiftFox's financial features, check out the rest of the course.