Many enterprises conduct business by collecting a prepaid upfront amount from their customers for the future purchase of product/service or usage consumption.

To support such business processes, Conga Billing introduces wallet functionality. The wallet functionality allows the billing administrator to:

  • Setup one or multiple wallets
  • Track real-time wallet balance based on product/service sold against the wallet
  • Track real-time wallet balance based on usage consumed against the wallet
  • Manage wallet balance automatically based on asset amendments

Real-Time Wallet updates provide the billing admin with the functionality to maintain and view the wallet balance on a real-time basis. It avoids conflicts of insufficient funds when there are multiple orders that are not invoiced against a wallet. It also shows real-time balance updates for usage products.

Consuming  a Wallet

The wallet balance is updated as soon as the Billing Schedules are created or updated for an asset line item. The asset line item should first be linked to a wallet.For details on how to link a wallet with an asset, see "Associating a Wallet with an Asset" in Wallets.

Wallet introduces two new fields, Total Balance and Available Balance on the Asset Line Item of the wallet. 

  • Total Balance: Total balance reflects the total amount added to the wallet.
  • Available Balance: Available balance reflects the amount available for consumption in the wallet. Net Price on the Asset Line Item shows the initial price or amount of the wallet.

When the wallet balance is updated, the following events occur:

  • The Fee amount of each billing schedules is deducted from the available balance of the Wallet.
  • Wallet drawdowns are created to keep an audit track of each billing schedule that uses the wallet balance
  • Two Related A/R transactions are created.

For example, consider a wallet with Total Balance and Available Balance as $50,000. 

After billing schedules are generated for a product worth $1,200, the Total Balance of the wallet is $50,000 and Available Balance is $48,800.

Impact of Wallet on Invoice and Credit Memo

When a product/service is purchased against a wallet, an invoice is generated for it. However, the invoice amount is adjusted from an auto-created credit memo that adjusts the due amount of the invoice based on the wallet drawdown that was created at the time of billing schedule creation.

The Prepaid Amount field on the Invoice Line Item shows the amount of the invoice that is paid from the wallet. 

The Ending Amount field on the Destination Related A/R Transactions for each Invoice shows the amount that is not paid from the wallet and is due for payment.

You cannot cancel an approved invoice if it is linked to a wallet.

Consuming a wallet auto-creates a credit memo with Reason Code as Prepayment and Status as Approved.

The field Wallet Id on Credit Memo Line Item shows the wallet from which the credit memo is created and the field Applied Invoice Line Item Id shows the invoice line item which consumes the wallet amount.

You cannot cancel a credit memo if it is created towards wallet adjustments.