For Asset-based transactions, when you renew an asset, the billing schedules for the renewal contract term are created based on the existing billing plan. 

Use Case: Billing Schedules for Asset Renewals

Description: This use case describes how billing schedules are auto-created for the renewal term using the existing plan of the asset. 

Suppose you are a billing administrator of a company selling software services and you need to renew your customer's subscription service for another year.

The customer was initially billed in 3 installments and the billing plan was configured as follows: 

Billing Plan Name
Plan Type
Billing Method
Number of Installments
Billing Plan BP1Full TermAmount3

Pre-requisite: Make sure the quote is associated with an appropriate billing plan and the asset is activated. 

Before renewal, you see the following billing schedules:

Billing Schedule
Period Start Date
Period End Date
Ready for Invoice Date
Fee Amount
BS21/1/201931/12/201910/6/2019$375,000Pending Billing
BS31/1/201931/12/201922/9/2019$375,000Pending Billing

Renew the Asset as follows:

  1. Create a new quote for the same account.
  2. Click Config Products.
  3. On the installed products page, select the asset Item and click Renew.
  4. Enter the renewal date as 31/12/2020.
  5. Finalize the Quote.
  6. Activate the order.


New billing scheules are created as under:

Billing Schedule

Period Start Date

Period End Date

Ready for Invoice Date

Fee Amount


BS11/1/202031/12/202015/1/2020$375,000Pending Billing
BS21/1/202031/12/202010/6/2020$375,000Pending Billing
BS31/1/202031/12/202022/9/2020$375,000Pending Billing

Manual Billing Flow for Asset Renewals

You can also add a new billing plan or edit an existing billing plan, before accepting the Quote/Proposal.  The resultant billing schedules are created based on the new billing plan. 

For Billing Term as Full Term, if you click New Billing Plan from the Quote/Proposal detail page, the Billing Plan fields are auto-populated based on your existing billing plan.