Billing Schedule Alignment
Billing Schedules are aligned on the basis of Billing Cycle Start field on Billing Preferences.
Billing Schedule for an asset takes the Expected Start Date mentioned on the Proposal Line and Order Line as the starting point for generating the schedules. To align rest of the duration, it looks up to the value provided in the Billing Cycle Start. You have the flexibility to choose Billing Day from other objects such as Account, Quote/Proposal, and Order.
The Ready for Invoice Date is calculated based on the Billing Rule as follows,
- For Bill in Arrears: Ready for Invoice Date= Period End Date + 1
- For Bill in Advance: Ready for Invoice Date= Period Start Date
Use Case
Standalone Recurring product
Tier1 system sells ‘SecureDevice’ ($100/unit) which is billed monthly for a contract period of one year. The contract is in effect from 04/20/2016. The customer wants an invoice on 15th of every month.
Steps:
- Add a product ‘SecureDevice’ with List Price as $100 and Price Type as Recurring.
- Under the Tax and Billing tab on PLI, set the Billing Rule as Bill in Advance and Billing Frequency as Monthly.
- Create a new Billing Preference and set Billing Cycle Start to Billing Day of month.
- Set Billing Day of month to 15th of the month.
- Create a Quote/Proposal. Set Start Date as 04/20/2016 and End Date as 04/19/2017.
- Add the product to your cart and Finalize.
- Present the proposal and Accept it after the reviews.
- Order and Asset are created the moment a Proposal is accepted. Activate the order.
Resulting Billing Schedules
|
Period Start Date |
Period End Date |
Ready for Invoice Date |
Amount |
|---|---|---|---|
|
4/20/2016 |
5/14/2016 |
4/20/2016 |
$83.33 |
|
5/15/2016 |
6/14/2016 |
5/15/2016 |
$100 |
|
6/15/2016 |
7/14/2016 |
6/15/2016 |
$100 |
