Billing based on Fiscal and non-Fiscal years.

Billing Guide: Recurring services

This guide provides you with examples of how the system calculates billable periods for the cycles created in a contract. Billing cycles offered in the PSA are Contract Length, Weekly, Monthly, Quarterly and Yearly. Examples for all the cycles with and without Calendar billing are listed in this guide.

Contract parameters considered for this example are:

  • Start date: 10th Aug 2020
  • End date: 31st Aug 2021
  • Service item has a unit price of 20$
  • Service item Effective date:10th Aug 2020
Tip! Refer this getting started article to learn more about recurring services. 

Billing Cycles:

Billing in PSA can be automated using Finance > Billing automation or manually using Billing review. To review the periods we will make use of the manual method. A summarized view of all the cycles is listed at the end of this guide.
This section lists periods that will be shown in Finance > Billing review for the above contract. Listed billable items can be posted and invoiced in Finance > Billing.

Weekly and Fiscal years (Calendar year: Yes)

  • Billing spans weekly from Monday to Sunday.
  • Below time period shows the first few weeks of this weekly billing cycle.
  • 10th of August falls on Monday so the period considers 10th as the start of the first cycle.

Start

10-Aug-2020

17-Aug-2020

24-Aug-2020

31-Aug-2020

07-Sep-2020

14-Sep-2020

End

16-Aug-2020

23-Aug-2020

30-Aug-2020

06-Sep-2020

13-Sep-2020

20-Sep-2020

  • Below time period shows the last few weeks of this weekly billing cycle.

Start

26-July -2021

02-Aug-2021

09-Aug-2021

16-Aug-2021

23-Aug-2021

30-Aug-2021

End

01-Aug-2021

08-Aug-2021

15-Aug-2021

22-Aug-2021

29-Aug-2021

31-Aug-2021

Weekly and Fiscal years (Calendar year: No)

  • Billings spans from the start date to a week from the start date.
  • Below time period shows the first few weeks of this weekly billing cycle.

Start

10-Aug-2020

17-Aug-2020

24-Aug-2020

31-Aug-2020

07-Sep-2020

14-Sep-2020

End

16-Aug-2020

23-Aug-2020

30-Aug-2020

08-Aug-2020

13-Sep-2020

20-Sep-2020

  • Below time period shows the last few weeks of this weekly billing cycle.

Start

21-Jul-2021

28-July-2021

04-Aug-2021

11-Aug-2021

18-Aug-2021

25-Aug-2021

End

27-Jul-2021

03-Aug-2021

10-Aug-2021

17-Aug-2021

24-Aug-2021

31-Aug-2021

Monthly and Fiscal years (Calendar year: Yes)

  • Billings spans from the 1st of the month to the end of a calendar month.
  • Below time period shows the first few months for the monthly billing cycle.

Start

10-Aug-2020

1-Sep-2020

1-Oct-2020

1-Nov-2020

End

31-Aug-2020

30-Sep-2020

31-Oct-2020

30-Nov-2020

  • Below time period shows the last few months for the monthly billing cycle.

Start

01-May-2021

01-Jun-2021

01-July-2021

01-Aug-2021

End

31-May-2021

30-Jun-2021

31-July-2021

31-Aug-2021

  • Because our effective date is 10th August, the line item for the first month will be prorated.
  • Proration is calculated from the first of the month to the effective date.

mceclip0.png

Monthly and Fiscal years (Calendar year: No)

  • Billings spans from the start date to a month from the start date.
  • Below time period shows the first few months for the monthly billing cycle.

Start

10-Aug-2020

10-Sep-2020

10-Oct-2020

10-Nov-2020

End

09-Sep-2020

9-Oct-2020

09-Nov-2020

09-Dec-2020

  • Below time period shows the last few months for the monthly billing cycle.

Start

10-May-2021

10-Jun-2021

10-Jul-2021

10-Aug-2021

End

09-Jun-2021

09-Jul-2021

09-Aug-2021

31-Aug-2021

  • Because our effective date is 10th August, the line item for the last month will be prorated.

mceclip1.png

Quarterly and Fiscal years (Calendar year: Yes)

  • Billings spans from the beginning to the end of the quarter of a calendar year.
  • Below time period shows the span for the quarterly billing cycle.

Start

10-Aug-2020

01-Oct-2020

01-Jan-2021

01-Apr-2021

01-Jul-2020

End

30-Sep-2020

31-Dec-2020

31-Mar-2021

30-June-2021

31Aug-2021

  • Prorations are calculated for the first and last quarter as they don’t begin and end with Fiscal quarters.

mceclip3.png

Quarterly and Fiscal years (Calendar year: No)

  • Billings spans from the start date to a quarter from the start date.
  • Below time period shows the span for the quarterly billing cycle.

mceclip4.png

  • Proration is calculated for the last quarter as the period doesn't complete the quarter cycle.

Yearly and Fiscal years (Calendar year: Yes)

  • Billings spans from the start date to the end of the calendar year.
  • Below time period shows the span for the quarterly billing cycle.

Start

10-Aug-2020

01-Jan-2021

End

31-Dec-2020

31-Aug-2021

  • The line items are prorated as the time periods do not cover a complete year.

mceclip1.png

Yearly and Fiscal years (Calendar year: No)

  • Billings spans from the start date to a year from the start date.
  • Below time period shows the span for the quarterly billing cycle.

Start

10-Aug-2020

09-Aug-2021

End

10-Aug-2021

31-Aug-2021

  • The line items are prorated as for the last period as it does not complete a year.

mceclip6.png

Contract Length:

This setup is used when you want to set up a one-time payment for a contract. You can generate one invoice for the whole period. Fiscal or non- Fiscal will not matter as the period considered will be what is defined in the contract.

mceclip7.png

Billing Cycle summary

Summarized view for the billing periods are shown below

Start Date

End date

Billing Cycle

Calendar years

Service effective date

A week from the effective date

Weekly

No

Service effective date

A month from the effective date

Monthly

No

Service effective date

A quarter from the effective date

Quarterly

No

Service effective date

A week from the effective date

Weekly

No

Service effective date

A year from the effective date

Yearly

No

Service effective date

End of the effective week Sunday

Weekly (Monday to Sunday)

Yes

Service effective date

End of a particular month

Monthly

Yes

Service effective date

End of the particular quarter

Quarterly

Yes

Service effective date

End of the billing year

Yearly

Yes

 

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