New Features

Following are the new features introduced in this release:

Introducing Revised Billing Schedules

This release offers revised rules for Billing Schedule Management. Notable changes are done in the way Billing Frequency or Billing Day of the Month changes are done for any asset. In addition to this, price discrepancies caused by precision errors and amendments for partial periods are taken care of. The older behavior of Billing Schedule generation is modified to ascertain that expected results are seen for all asset Amendment and Termination actions.

Custom Invoice Numbering

Numbering an Invoice is the best way to identify, track, and classify invoices. Numbering patterns can range from simple to complex, based on your business policies. Typically, you define numbering by using a combination of Alphabetic (A-Z), Numeric (0-9) and Special characters. With this release onward, you can create your own format for numbering the invoices based on Billing Country on the Account's Bill To Address. For now, only country-specific Invoice Numbers can be generated out-of-the-box. You can register a custom numbering callback class to define rules based on the fields other than the Selling or Billing Country.

Revised Tax Callback

Tax Callback is revised to send Invoice Line Items to the Tax Engine for calculating tax amount. Because the tax amount is derived after invoice creation, invoices with finalized tax calculations can be emailed. When a custom Tax Callback calls a Tax Engine, it can now use the (auto-generated) Invoice Number as the Document Id for non-commit mode and either the Invoice Number or the Custom Invoice Number for commit mode.

Updates to Payment Term

To cover extensive Payment Term requirements, new fields — Start Type, Offset Occurrence and Start Value are added to the Payment Term object. The Payment Term calculation was standard and limited to calculating defined number of days from an Invoice Date. This update provides advance options to add days, months and specific days to determine the due date. For example, a complex requirement – 'Invoice billed during the month should be due 30 days from the last day of the month and not due until the 15th of the month' can be achieved by specifying values in the new fields.