New Features

Following are the new features introduced in this release:

Generate Credit Memos

This release introduces a new feature of issuing a Credit Memo. Credit Memos can be issued to offset current invoices or apply to future invoices. They can also be issued as a standalone credit to the customer. Just as with Invoices, you can apply custom templates, generate a PDF version of the Credit Memo and email it to your contacts. You can create Credit Memos in two ways:

  • From an Invoice (Direct Credit Memo)
  • Through Invoice Runs (Automatic Credit Memo)

Tax display on Invoice Line Item

With this release, a new field Tax Amount is added at each Invoice Line Item. The Tax Amount from all Invoice Line Items is aggregated to match the value of Total Tax Amount on the Invoice. The new field contains the amount computed by a Tax Engine for the Fee Amount of the corresponding Billing Schedule. Based on the precision configuration, the sum of the Tax Amount of the various Tax Breakups may not match the Tax Amount on the Invoice Line Item.

Pick Invoice Date from the Billing Schedules

Invoice Run has a new field Invoice Date Type as part of the Scheduling Options, that will allow you to use Ready for Billing Date on the Billing Schedules and set it as the Invoice Date on the respective invoices.

Cancel Approved Invoices

Until this release, you could not cancel approved invoices which are unpaid by the customers. This was a limitation because if there is a conflict regarding the invoice amount and customer refuses to pay, you need to cancel the approved invoice and create a new one. With this release, you can cancel an approved invoice and generate a new invoice with the revised amount. Invoice Cancellation is now possible for Invoices in Draft stage and Approved invoices for which payment is pending. 

New Billing Frequency - 'Single Period'

A new Billing Frequency 'Single Period' is introduced with this release. This frequency can be applied to those assets which are required to be billed one-time for the entire amount in spite of a 'recurring' price type. This frequency cannot be applied to products with Auto Renewal Type set to Evergreen.

Asset Cancellation on the Same Day

You have the option of terminating an Asset the very same day of termination. This is a default system behavior introduced from this release. To change this behavior to cancellation after a day, configure Billing Custom Settings.

Prevent Excess Credit on ABO Operations

In situations where any asset based operations result in exceeding the existing credit amount, that operation will be blocked and you will see the following error message:

Asset Based Order for AssetLineItemId='x' cannot be executed as Available Credit Balance (from Credit Memo Amount) is less than the credit Generated (revised amount) for Action = Amended

To recover from this event, you can Cancel the associated Credit Memo and proceed with the asset operation. Please note that you can cancel the Credit Memo only if it is in the Draft stage.

Revise Legacy Billing Schedules using a script

A Post Install Script will be automatically executed after installing the package. This script will add links to the Billing Schedules that have been invoiced and superseded. Because this release introduces Credit Memo, Billing Schedules which are invoiced and superseded will be analyzed to identify any credits for a given billing period. If there are any, the field Available Credit Amount will contain the amount of credit drawn from a particular Billing Schedule.