Set Up Summarized Billing
When you add a coverage product to your subscription, you have the option to view the summarized charges of each line item from multiple covered levels or separate line items for each charge.
For summarized bills, bill lines across all covered lines are grouped by the charge definition for specific periods and displayed at the coverage product level. You can enable this by opting for Summarized billing while adding a coverage product.
Let's see an example of detailed and summarized billing. Here's a setup of a coverage product and its covered levels.
Coverage Product
| Product | Quantity | Start Date | End Date | Billing Frequency | Invoicing Rule | Billing Date | Period Start |
Period Type |
|
Coverage Product 1 |
1 | 01-Jul-2021 | 30-Jun-2022 | Quarter | Advance | Period Start | Service Start | Actual |
Charges – the charges would be the same for both the assets because they are defined in the coverage product.
| Charge Name | Periodicity | Unit Price |
| Activation Fee | NA | $5000 |
| Recurring Fee | Quarter | $600 |
Coverage Line
| Covered Level Type | Covered Level Name | Pricing UOM | Covered Level Start Date | Covered Level End Date | Bill to date | Amount |
| Asset | Asset_01 | Quarter | 01-Jul-2021 | 30-Jun-2022 | 30-Nov-2021 | $7,400 |
| Asset | Asset_02 | Quarter | 01-Jul-2021 | 30-Jun-2022 | 28-Feb-2022 | $7,400 |
You can enable Summarized billing while adding a coverage product to view the summarized charges of each line item. Here’s the billing summary at coverage product level:
Summarized Billing
| Period | Charge Name | Sequence | Interface date | Bill from date | Bill to date | Amount |
| 0 | Activation Fee | 0 | 20-Jan-2022 | 01-Jul-2021 | 30-Jun-2022 | $10,000 |
| 1 | Recurring Fee | 1 | 20-Jan-2022 | 01-Jul-2021 | 30-Sep-2021 | $1,200 |
| 2 | Recurring Fee | 2 | 20-Jan-2022 | 01-Oct-2021 | 31-Dec-2021 | $1,200 |
| 3 | Recurring Fee | 3 | 20-Jan-2022 | 01-Jan-2022 | 31-Mar-2022 | $1,200 |
| 4 | Recurring Fee | 4 | 01-Apr-2022 | 01-Apr-2022 | 30-Jun-2022 | $1,200 |
Detailed billing
If you don’t opt for summarized billing, it is represented as follows in the billing summary page of the coverage product:
| Period | Charge Name | Sequence | Interface date | Bill from date | Bill to date | Amount |
| 0 | Activation Fee | 0 | 20-Jan-2022 | 01-Jul-2021 | 30-Jun-2022 | $5,000 |
| 0 | Activation Fee | 0 | 20-Jan-2022 | 01-Jul-2021 | 30-Jun-2022 | $5,000 |
| 1 | Recurring Fee | 1 | 20-Jan-2022 | 01-Jul-2021 | 30-Sep-2021 | $600 |
| 1 | Recurring Fee | 1 | 20-Jan-2022 | 01-Jul-2021 | 30-Sep-2021 | $600 |
| 2 | Recurring Fee | 2 | 20-Jan-2022 | 01-Oct-2021 | 31-Dec-2021 | $600 |
| 2 | Recurring Fee | 2 | 20-Jan-2022 | 01-Oct-2021 | 31-Dec-2021 | $600 |
| 3 | Recurring Fee | 3 | 20-Jan-2022 | 01-Jan-2022 | 31-Mar-2022 | $600 |
| 3 | Recurring Fee | 3 | 20-Jan-2022 | 01-Jan-2022 | 31-Mar-2022 | $600 |
| 4 | Recurring Fee | 4 | 01-Apr-2022 | 01-Apr-2022 | 30-Jun-2022 | $600 |
| 4 | Recurring Fee | 4 | 01-Apr-2022 | 01-Apr-2022 | 30-Jun-2022 | $600 |