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, click the down arrowhead next to Create Billing to view the options: Create Recurring Billing and Create Project.
   
5. 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
     • 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.
         Note: With the Iris release, existing users may need to manually add the Weekly and Bi-weekly values to the Billing Frequency picklist. For more information, refer to the Add a New Picklist Value article. 
         
     • 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 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:
     • 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.