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Re: Upfront Billing options

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Valued Scholar

Upfront Billing options

We have a licenced product that is good for 3 years, with annual billing. We currently have this set up a:

  • a Recurring product charge,
  • Annual Billing,
  • Billing period ends after 36 Months.

 

We have a customer who wants to pay upfront for the three years – so that the invoice shows one full payment (also ideally we want show the split for the three years across separate line items in the invoice).

But in Netsuite, we want to be able to recognise the payment into each of the appropriate years, e.g. this year, and the next two years.

 

  • If we create a subscription with terms of 12months, with 12month renewal – the quote/invoice only shows the per-year cost not the upfront.
  • If we create a subscription with terms of 36months, no renewal – the quote shows the full payment, but the invoice still only shows per-year billing.

 

Can you suggest how we can do this? What would need to be changed – product config, subscription config, invoice template, Netsuite config, and/or processes ?

2 REPLIES 2
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Guru

Re: Upfront Billing options

If you have the term 36 months and the billing period as Annual, when you generate the invoice, you can use the service period start date of the 3rd year for the Invoice Target Date.  That will pick up all three years on one invoice.  then it'll renew.

 

We have customers who also pay upfront for 3 years, we have a product with a 36 Month billing period.  we do not have a requirement to show each year as a line item, it's just one line item with a serive period that spans the 3 years.

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Valued Scholar

Re: Upfront Billing options

Thanks @ehavens 

 

I'm testing that this morning, and the invoices are good, just need to see how it also syncs to Netsuite, but its looking positive!