Billing for Evergreen Assets
Unlike standard subscriptions, evergreen subscriptions are ongoing unless they are explicitly canceled.
Auto Renewal and Evergreen Billing
You can also set up a product to be renewed automatically. This is usually for perpetual or evergreen contracts. For example, you are a Sales Representative for a telecommunications company. One of your customers has just signed up for a voice, messaging, and data contract that comes with a new handset. You have decided to provide continued services on the same terms and conditions unless the customer cancels the agreement. You can set this purchase up as a perpetual contract.
While the Billing Frequency for this purchase could be Monthly, Quarterly, Yearly, or based on usage (for this example, let us consider Yearly), you will typically terminate the billing for such a purchase only when your customer explicitly calls to cancel the subscription. In such a case, you can define the Billing Schedules to renew automatically and define the Auto Renewal Type as Evergreen.
For Evergreen assets, the number of billing schedules created are defined based on the Auto Renewal Term.
To define the renewal type
To define the renewal type for a purchase with a perpetual contract:
To generate evergreen billing schedules for an asset, click Refresh Evergreen Billing from the asset detail page. Refresh Evergreen Billing creates remaining billing schedules based on the Auto Renewal Term. Refresh Evergreen Billing creates billing schedules only for Activated Assets.
For example, if the Auto Renewal Term is set as 6 and you have 2 invoiced billing schedules and 4 billing schedules with status as Pending Billing, Refresh Evergreen Billing creates 2 new billing schedules.
