WooCommerce Deposits is an extension designed for the WooCommerce platform that allows store owners to accept partial payments in the form of deposits or payment plans for specific products or services.

With this extension, customers can choose to pay a deposit or select a payment plan, rather than pay the full price upfront.

This extension provides flexible and customizable payment schedules, with intervals based on days, weeks, or months.

You can choose to accept payment plans as deposits, layaway plans, or any payment structure you prefer. The checkout process for customers is designed to be intuitive and straightforward, with easy-to-follow visuals that explain the payment plan.

One of the key features of WooCommerce Deposits is the ability to create custom payment plans with variable percentages and intervals.

This feature allows for complete control over how payments are accepted and scheduled, making it a great tool for businesses with unique payment structures.

In terms of taxes, the extension handles them differently for deposits and payment plans. Taxes are only calculated for the deposit amount, while the tax for the remaining amount is charged when the next payment is made.

The initial fee/deposit for payment plans is taxed, and future payments are created in the system so that they use the same tax rate as the initial payment.

WooCommerce Deposits is compatible with standard simple and variable products and bookable products from WooCommerce Bookings. However, it is incompatible with preorders, subscriptions, wishlists, composite products, points and rewards, product bundles, grouped products, extra fees for WooCommerce, or payment gateway-based fees.

Customers can receive email notifications regarding their payment plans, which use the standard WooCommerce email template.

These templates can be customized or overridden by the store owner. However, the extension does not currently support automatic recurring payments, so credit card data is not stored.

Note: While the extension is designed to collect partial payments, it does not support security deposits. For more information visit the extension documentation.

In summary, WooCommerce Deposits is a powerful and flexible tool that allows store owners to accept partial payments for specific products or services.

The extension provides customizable payment schedules and easy-to-follow visuals for customers, making it a great tool for businesses with unique payment structures.