Understanding Billing Schedules
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, Conga Billing 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 Setup, 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 the 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.
A customer's billing schedule for each of the assets on their accounts page is shown:
The billing schedule displays these fields:
|
Field |
Description |
|---|---|
|
Is Superseded |
A system flag that denotes if a billing schedule has been superseded due to an amendment or cancellation.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 until which the customer is billed for this purchase. |
|
Status |
The billing schedule's current stage in the process. |
|
Type |
There are two types of Billing Schedules:
|
|
Fee Amount |
The bill amount corresponding to a Billing Schedule. |
|
Order Line Item |
The line item created for the order for which the billing schedules are created. |
|
Payment Term |
The payment term you will apply to the invoice. This is the number of days the invoice payment is due. The standard payment terms are:
|
|
Account Location |
The location of the account to which the order is billed. |
|
Ship to Account |
The account from which the purchase was made. |
|
Billing Rule |
The billing rule you defined on the product PLI (Bill in Advance, Bill in Arrears, or Bill on Ready for Billing Date). |
|
Legacy record? |
Select this checkbox to convey to Conga Billing that the billing schedule record is a legacy record and has been invoiced elsewhere. After the billing schedule is created, you cannot edit this checkbox or edit the billing schedule record itself. |
|
Superseded Billing Schedule |
The billing schedule that is generated after the original one is superseded following an amendment or cancellation. |
You can invoice these billing schedules through invoice runs. To update assets, see Managing Assets.
