Set up a Recurring Billing from an Opportunity

Overview

A Recurring Billing is a Billing template that allows you 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.

Set up a Recurring Billing from an Opportunity

1. Navigate to Accounting Home and click the Create Entries tab. Then, under the Revenues menu, click Opportunities.
2. Select a list view (other than the Recently Viewed list view).
3. From the list view, select the Opportunity for which you wish to create a Recurring Billing.
   
4. In the top right corner next to the buttons, click the down arrow to display additional button options. Then, select Create Recurring Billing.
   
   
   
   
5. Review all the required fields (indicated by a red asterisk) for accuracy.
• Notice that the Create Recurring Billing screen is divided into three (3) sections:
  • Recurring Billing
  • Billing
  • Recurring Billing Lines
• In the Recurring Billing section:
  • Recurring Billing Name: Any name can be used.
  • Billing Frequency can be set to one of the following:
    • Weekly
    • Bi-weekly
    • Monthly (default)
    • Quarterly
    • Semi-Annual
    • Annual
      Note: Accounting Seed does not support the usage of custom frequencies.
      
  • Next Billing Date: Used to specify the creation date of the next Billing.
    Note:  The Next Billing Date and the Date on the Recurring Billing Line(s) will display based upon the “Default Billing Date from an Opportunity” section in the Enablements screen. In this section, if the “Set Billing Date to Current Date” Swipe button is turned "On," the Next Billing Date and Date on the Recurring Billing Line(s) will display today’s date when a Recurring Billing is created from an Opportunity. If the setting is left “Off,” which is the default, the dates will be the same as the Close Date on the Opportunity.
    
  • 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 upon the Close Date on the Opportunity and posted to that period.
• In the Recurring Billing Lines section, review and verify the following fields that were pre-populated from the Opportunity:
  • Date
  • Quantity
  • Price
  • Revenue GL Account
  • Product
    
    Note: If Header Level Posting (HLP) is enabled and using AS Native Tax calculation, the Tax Group field is available. For information about Tax Groups refer to the Set up AS Native Tax article.
6. 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.

Notes: 

• 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.

____________________

Summer ’22 Release

Release Notes and Schedule

• The Next Billing Date and Date on the Recurring Billing Lines display based upon the “Default Billing Date from an Opportunity” section in the Enablements screen.