Many business practices require a prepayment from the customers. Prepayments can be used for future product invoices and for usage-based services. Wallets in Conga Billing facilitate that. Wallets are created in the same manner the products are created.
Wallet supports two types of prepayments.
- Prepayments made against a product
- Prepayments made for usage-based services
Creating a wallet
Wallets are created in the same way as Assets. For example, let us create a Wallet with Balance Amount as $1000. First, configure a product with a Product Type of Wallet and with List Price as 1000. Add the wallet to your cart and accept the quote/proposal. Create and activate an order to create an asset. Invoice the wallet to make it available for consumption.
Associating a Wallet with an Asset
Wallets are linked with products by creating a Related Asset Line Item record. Perform the following steps to link a wallet to a product.
- Go to the Asset Line Item Detail page of your wallet.
- Click New Related Asset Line Item in the Related Asset Line Item (From) Related List.
- Create the record as follows:
From: Wallet
Relation Type (From):is consumed from
To:Product
Relation Type (To):Is consumed By
- Click Save.
You can link multiple wallets to a product by creating multiple Related Asset Line Item records. Multiple wallets are consumed in the order in which they were linked to the product.