Billing Schedules for a product (whether one-time or recurring) are a distribution of the net amount of a contract, based on the chosen Billing Frequency. Billing Schedules determine the amount that should be billed to the customer once or over a period of time.
With every order and subsequent Asset that you Activate, Apttus Billing Management automatically creates a Billing Schedule for that Asset. You can use the Billing Schedules function to track all billing information related to an Asset and Order. These Billing Schedules are adjusted for proration and Asset Based Orders.
Billing Schedules take input from a variety of sources - CPQ, Price List Item and Billing Preferences, as shown in the above diagram.
For subscription-based recurring products, the net amount is distributed over a series of Billing Schedules. Each schedule displays the amount that may be invoiced for a specific duration based on billing frequency, along with the date when payments are due based on payment term.
When you perform Invoice Runs to generate invoices, the appropriate Billing Schedules with Ready for Invoice Date less than or equal to the Invoice Process Through Date are picked and mapped to the invoice line items.
You can see your customer's Billing Schedule for each of the Assets on their Accounts page as shown in the following screenshot.
Let us understand what each of the fields on Billing Schedule means,
|Is Superseded||A system flag that denotes if a Billing Schedule has been superseded due to an amendment or cancellation.|
Ready for Invoice Date
|The date on which this Billing Schedule is ready for invoicing.|
Period Start Date
|The date when the customer starts getting billed for this purchase.|
Period End Date
|The date till when the customer is billed for this purchase.|
|Status||The stage at which the Billing Schedule is in the entire process.|
There are two types of Billing Schedules:
|The bill amount corresponding to a Billing Schedule.|
Order Line Item
|The Order Line item for which this billing schedule is created.|
The payment term you want to apply to the invoice. This is the number of days until invoice payment is due. The standard payment terms are:
|The Account Location this order is billed to.|
Ship to Account
|The Account from which the purchase was made.|
The Billing Rule you defined on the product PLI (Bill in Advance, Bill in Arrears or Bill on Ready for Billing Date).
The Period Start Date and Period End Date on the Billing Schedule for a one-time product reflect the same Start Date and End Dates that you define on the Quote/Proposal page. The same behavior applies to products with a recurring or usage frequency. This is beneficial in tracking mid-term product cancellations.
Billing Schedule Status
A regular Billing Cycle will see below-mentioned statuses on the Billing Schedules for a product. The Billing Schedule will move to each of the statuses sequentially:
- Pending Billing
Whenever a new Billing Schedule is created, its status is marked as ‘Pending Billing’. Unless the schedule is not filtered for invoicing, this status will not change.
- Pending Invoice
After an Invoice Run, if a Billing Schedule qualifies for invoicing, the status will change to ‘Pending Invoice’.
If an Invoice is approved, the status will change to ‘Invoiced’.
For Amendments and Cancellations, the Status can change to:
If a Billing Schedule is overwritten by new Billing Schedules.
If you terminate a product with the status ‘Pending Billing’ or ‘Pending Invoice’, the Billing Schedules after the termination date will be marked as ‘Cancelled’. No further action will be taken for the Billing Schedules with Cancelled status.
- Invoice Cancelled
If you terminate a product with the status ‘Invoiced’, the Billing Schedules after the termination date will be marked as ‘Invoice Cancelled’.
Billing Schedule Category
Billing Schedule Category is as follows:
A billing schedule generated for a regular product has Category as Fee.
A billing schedule generated for a product with negative price has Category as Cart Credit.