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. Click Create Recurring Billing. The Create Recurring Billing intermediate screen displays. 
   
   
   Note: Click here to view the above image in full screen. 
   
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:
  • Ledger: The Ledger displays based upon the default Ledger for your username, the default Ledger for the org (organization), or the Ledger that was selected on the Opportunity. If necessary, you can select a different Ledger.
    Note: If you select a Ledger that has a different tax method, the columns on the Recurring Billing Lines data grid will adjust accordingly based upon the tax method for the selected Ledger. 
  • 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
  • Tax Group
    
    Note: Only applicable if using AS Native Tax with Header Level Posting (HLP). Click the hyperlink to view/edit the Tax Group. For information about Tax Groups refer to the Set up Accounting Seed (AS) Native Tax article.
    
    Note: Tax Inclusive Tax Groups are not currently supported when creating a Recurring Billing from an Opportunity. These Tax Groups will be supported in a future release. However, while the tax related values will not display correctly on this Create Recurring Billing intermediate screen, once the Recurring Billing is created, the values will display correctly when using a Tax Inclusive Tax Group.
    
    
  • Revenue GL Account
  • Product
    
6. If satisfied, click Create Recurring Billing to finalize setting up 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.

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