Billing Frequency and Accounting Rule at Charge Level

Billing frequency and accounting rule can be modified at charge level so that the billing schedule is generated accordingly.

Billing frequency and accounting rule at the product level drives the way billing schedules are generated for either a subscription product or a covered level. With the additional ability to specify a different billing frequency and accounting rule at the charge level, you will be able to decide how billing schedules are generated for different charges. For the existing subscriptions, the billing frequency and accounting rule are defaulted with blank values and for such cases, the product level values will continue to drive the way billing schedules are generated.

Subscription Charges

Covered Level Charges

However, note the following caveat for coverage products:

if you have selected a different billing frequency for a covered level charge from what is specified at the coverage product level, you must ensure that the same billing frequency is selected for the same charge across all the covered levels. For example, if a coverage product has three assets and if the billing frequency is 'MONTHLY' at covered product level, once you choose 'QUARTERLY' for a recurring charge of Asset 1, you must ensure that same 'QUARTERLY' billing frequency is chosen for the same recurring charge across Asset 2 and Asset 3 as well.

Also, for usage charges, actual charges will be billed in Arrears always irrespective of the accounting rule selected. If usage estimates are enabled, the charge level invoicing rule will be used only for estimates.

Increased flexibility while generating the billing schedules.

Steps to Enable

You don't need to do anything to enable this feature.