Billing Cycle Attribute

Description

Billing Cycle

The Billing Cycle is what represents the name and description for the record and appears as the user option when selecting a Billing Cycle in 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

The Billing Cycle Days represents the number of days included in the cycle, such as 30, 90, 180, or 360 to bill on monthly, quarterly, semi-annually, or annually, respectively.

Important: 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.

See the Prorating Options section for more information,

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). 

See the Is Arrears Flag section for details.