Create billing schedules
Finance gives you the opportunity to separate recurring contract billing into groups, which automatically applies the default values of the group. This feature helps make the process of setting up a new billing schedule easier, and you can adjust default values if desired.
To create a billing schedule group, follow the steps.
Go to Subscription billing > Recurring contract billing > Setup > Billing schedule group.
To create a billing schedule group, select New, which is located in the upper-left corner of the screen.
After you've created a billing schedule group, enter an identifier, which is located under the Billing schedule group field. Enter a description, which is located under the Description field.
In the Billing frequency field, select the billing schedule that you want. Options consist of One-time, Daily, Monthly, Quarterly, Semiannually, or Annually.
After you've selected the Billing schedule that you want, enter the billing interval, which is located under Billing interval.
Select Pricing method. Options consist of Standard, Flat, Tier, and Flat Tier.
Select Item type. Options include Standard, Usage, Milestone, and Consumption.
Set Invoice separately, Renewal automatically, and Escalation to Yes or No, depending on your organization's needs.
The Pricing method field has four different default pricing methods for you to choose from to run your items on the Billing schedule.
Standard - Calculate the unit price that is based on the total quantity that you enter.
Flat - Flat price.
Tier - Calculate the unit price by using your fixed quantity at your different pricing brackets.
Flat Tier - Calculate the unit price by using your fixed quantity and extended price amounts for your different pricing brackets.
The Item type field has four different default types of items for you to choose from for your Billing group.
Standard - Quantity statistic.
Usage - Value for metered or consumption-type items.
Milestone - Value for Milestone billing functionality. Make sure that you select the Milestone template as well in the Milestone template field if you want to use this type of item.
Create a billing schedule
A Billing schedule is a component that allows you to implement scheduled Recurring billing. For example, you might need to set up a recurring monthly bill for a customer to be billed every two weeks for six months.
To create a new billing schedule, follow these steps:
Go to Subscription billing > Recurring contract billing > Billing schedules > All billing schedules.
In the upper-left corner of the screen, select New.
Select the corresponding Customer account that you want linked to the Billing schedule.
Enter the desired Billing start date and Number of periods that you want the customer to be billed. The Billing end date will automatically update when you've entered the Number of periods. After you ensure that the information has been entered correctly, select OK.
Note
Make sure that a number sequence is defined for the billing schedule number sequence on the Recurring contract billing parameters page. You can define this number sequence by going to Subscription billing > Recurring contract billing > Setup > Recurring contract billing parameters.
After you've created the Billing schedule, double-click the Billing schedule number, and then add a description in the Description field.
In the Milestone template field, select your desired milestone template for Milestone billing.
Note
The Invoice account and Currency code are updated with information from the customer. The Billing frequency and Billing interval fields are updated automatically, depending on the desired Billing schedule group.
If you want to have separate invoices, select Yes on Invoice separately.
If you want to automatically renew the billing schedule after the final billing period, select Yes on Renew automatically.
The Payment field allows you to view the payment information for the customer. Though, you can only change the Payment information if the line item is active.
Under the Billing schedule header, you can review and update Address and Contact information. If desired, you can link a user account with the Billing schedule. Also, you have access to view the various totals under the Total tab, audit information under the Hold tab, and view the history of terminations that have been applied or removed under Termination.
Select Save when you've made your desired changes.
If you scroll down to Billing schedules line, you can select Add line and select an Item number and Item type. Select Pricing method and Unit field. Update the Billing frequency, Start date, and End date if needed.
Note
If the item that you selected is a parent item in a revenue split, the child item is automatically updated. You are only able to update the parent item in the revenue split. Also, you'll need to update the Billing frequency prior to sending the first invoice.