A Recurring Billing is a Billing template that allows a user to create billing records that should be repeated during a defined future interval. Accounting Seed makes it easy to create a Recurring Billing directly from an Opportunity record and avoid duplicate data-entry.
- Navigate to Accounting Home and under Cash In, click Opportunities.
- On the next page, click on a Closed/Won Opportunity to open the Opportunity detail page.
- In the top right corner, click the down arrowhead next to Create Billing to view the options: Create Recurring Billing and Create Project.
- Select Create Recurring Billing to open the Create Recurring Billing screen.
- Review all the required fields (indicated by a red star) for accuracy.
- Notice that the Create Recurring Billing screen is divided into three (3) sections:
- Recurring Billing
- Recurring Billing Lines
- In the Recurring Billing section:
- Recurring Billing Name: Any name can be used.
- Billing Frequency defaults to Monthly but can be reset to:
- Next Billing Date: Used to specify the creation date of the next Billing.
- Status: Determines if the Recurring Billing should still be used (defaults to Active, can be set to Inactive).
- In the Billing section, if an initial Billing from this Recurring Billing template is to be simultaneously created, then click Create Initial Billing.
NOTE: this initial billing will be based on the Opportunity's Closed/Won date and posted to that period.
- In the Recurring Billing Lines section, review and verify the following fields that were pre-populated from the Opportunity:
- Revenue GL Account
- If satisfied, click Create Recurring Billing to finalize the set up of a Recurring Billing from an Opportunity.
After clicking Create Recurring Billing, the screen directs you to the Recurring Billing record just created. This Recurring Billing record includes a detail screen that summarizes the Recurring Billing just created.
- The Account field that will be used to associate with the Billing must be populated on the Opportunity.
- A Recurring Billing template can be set up manually by navigating to the Recurring Billing tab and clicking the New button.
- When creating a recurring billing template from the Opportunity, the Opportunity products will automatically become recurring billing lines.
- Using a new field set, there is now more flexibility to control the display of columns on the Opportunity to Recurring Billing’s Create Recurring Billing intermediate page.
- Records can now be created and posted automatically from Recurring Billings.
- The Revenue GL Account cannot be set to any GL Account on Accounting Settings except the Product Revenue Control GL Account.
- Accounting Seed restricts the number of Recurring Billing Lines within a single Recurring Billing to 500 lines to prevent errors based on Salesforce limits when creating records.