Low Volume Billing
The Low Volume approach to cycle billing assumes that you have
30 or fewer contracts which need billing each month (or every 28
days). Because of the low volume, it is best to bill each contract
on a one by one basis. You would follow the steps outlined below
once every month (or once every 28 days). The staff pulls the
original contract out manually, then creates a billing just for
that contract. The staff member will observe the billing, to ensure
the correct amounts are charged.
The Low Volume approach to cycle billing follows these
steps:
- Step 1
- When the contracts are entered using Contracts, your staff enters the DATE OUT on each
item. When the contract is three to four weeks old, it is ready to
be billed.
Step 2
- To identify contracts that are at least three to four weeks old
that are ready to be billed, print Overdue
Contracts & Cycle Billings or O/S
Contracts By Date Out using a CUT-OFF DATE of three to four
weeks ago.
Step 3
- Your staff should use the O/S Contracts Report to manually pull
out the original contract numbers and check the following:
- That the equipment on the contract is actually still out. If
the equipment was returned but not marked returned in the software,
close the contract now using Rental
Return. It will no longer be eligible for Cycle Billing.
- Determine if the contract was for CASH Customer # Blank, i.e.
someone who is expected to pay immediately for any billing from a
contract. If the customer was setup as Cash but now qualifies for
an Account, setup the new Account in Customer
Information .
Next, alter the contract to reflect this new customer number using
Contracts. In CHANGE mode, Down Arrow to
the Customer # prompt and type in the new Customer number, then
press ACCEPT Key.
- If the contract was for a Cash customer that was assigned a
Customer number, you will need to set ON ACCOUNT = Y in Customer Information
- If the contract is to remain as a cash contract, do NOT proceed
with Step 4 until the customer pays for the billing. The billing
program will produce a monthly invoice which will be expected to be
paid IMMEDIATELY upon making the invoice. You will have to select a
Method of Payment and indicate how much was received.
If desired, you can apply the Contract Deposit against the billing
invoice, but you will need to manually input this deposit amount on
the invoice. The software will NOT automatically apply the deposit
to the monthly billing for you, since it is assumed that the
deposit is supposed to remain open on the contract as a security
until the equipment is returned.
Step 4
- Now that you have identified which contracts need billing, bill
each contract using Cycle Bill A Single
Contract - Standard Version. Each contract must be individually
billed. At the end of each contract billing, the invoice prints
out.
Step 5
- The invoices generated from the billing will be posted with the
next Daily Close run.
Topic Keyword: BO000703