The billing settings will decide how your order will be billed, they are available on the product order charge >> Financial details card
Fields to be configured
Billing Period: The frequency or the timing the charge will be billed. The following options are available:
- Monthly: every month
- Quarterly: 3 months per billing
- Biannual: 6 months per billing
- Annual: 12 months per billing
- End of Term: The full contract in one invoice
Period Alignment: How the charge will be aligned to the order, if a charge has different start and end dates than the order, this will dictate this charge's billing period alignment. The following settings can be set:
- Align to order: the charge will be billed once for the days until a new order billing period
- Align to charge: the charge will be billed according to its own period alignment and will disregard the order's period alignment
- Align to start of month: whatever the billing period is, the charge will be billed once for the days until a new month.
- Align to start of calendar quarter: when having quarterly billing period, this works like the alignment to start of month but alignment is made to each calendar quarter.
- Align to date: here you can set any date for alignment, the billing will align and break to this date independent on the order start/end date or the charge start/end date. Please note that this date only assigns the billing alignment, it does not change when the order or charge has renewal date.
Billing Timing: There are two options:
- In Advance
- In Arrears
This setting dictates when you can send an invoice for a charge, affects what your target date for invoices you need to set when creating the invoice.
For example, you have an order and a charge with start date 2019-01-01 and monthly billing period, and you want to send an invoice for January:
In advance: you can send the invoice as soon as the charge starts; you can set your target date from 2019-01-01
In arrears: you can send the invoice after the period of the charge has ended; you can set your target date from 2019-02-01