This step is important because if there were any changes that happened between the last billing date and the last time you invoiced your client. You want to make sure you will include all those changes to the new invoice which you can see using the Change Log Invoice.
Billing Contract Changes
Annual billing contracts are always great if you can get your customer to agree with them. It is great for your cash flow; it reduces the impact of the billing standpoint and your collection. Several companies enjoy the facilitation Annual Contracts bring to the table. But in today’s ever-changing environment you might be asked by your customers to change their billing cycle.
Then, what should you do?
There are two specific scenarios that you want to think about when it comes to changing a Billing Cycle from annual to monthly or quarterly:
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The relationship changes at the renewal of the contract. The customer had an Annual contract and now wants a Monthly contract.
The relationship changes in the middle of the contract. The changes are made mid-cycle. They want to add more licenses or products and they don’t want an Annual billing right now to conserve their cash flow. If you add the new changes to the current billing contract the invoice that is generated will show the balance for the year.
You will want to create a new subscription and associate it with a new billing contract because this is an existing relationship that will be billed using the original frequency as it was set up in the billing contract.
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