Billing Cycle Field

Description

Billing Cycle

This is the name and description of the Billing Cycle record.   It will also be the option available to users when selecting a Billing Cycle value within Recurring Billing Setup.

Calendar dating will be in effect for any Billing Cycle that contains the word “Calendar” within it, such as “Calendar Quarterly” or “Calendar Semi-Annually”.

Billing Cycle Days

This is the number of days included in the cycle.  Examples include values of 30, 90, 180, or 360 to bill on monthly, quarterly, semi-annually, or annually respectively.

Billing Cycle Days must be in increments of 30 days.

Prorating

This setting allows for the billing period to be divided down to either the half month or to the day. 

 An administrator can choose from two pro-rating methods:  Half Month and Daily.

Is Arrears

Set this flag to allow the logic to compute a billed amount that includes charges from a prior period. 

This flag is used to instruct the application to either bill for storage prior to the billing run (arrears) or after the billing run (flag not set).