Managing billing dates effectively in Storesync ensures accurate invoicing and a seamless experience for both you and your customers.
This guide explains how to set up billing, handle pro-rated charges, and adjust billing anniversary dates.
Overview of Billing Setup
To align billing cycles with your desired schedule, you can use the "Payments start on" field and amend agreements as needed.
This allows you to:
Set a specific billing anniversary date
Generate pro-rated invoices for partial periods
Ensure consistent monthly billing thereafter
Using the "Payments start on" Field
The "Payments start on" field is a key tool for managing billing dates. Here’s how it works:
Future Billing Start Dates: If you set a future "Payments start on" date, billing will begin from that date.
As soon as the agreement is active, the unit will be rented in that customers name. For example, if you set the Agreement start date as 1 September, and the paid to date as 1 October.
The unit will be rented and agreement will be active, but only start the
The period before the start date will not be charged.
Pro-rated Charges: To create a pro-rated invoice for a partial period, set the move-in date to the desired start date and adjust the "Payments start on" field accordingly.
For example, setting a move-in date of 5 August and "Payments start on" to 13 August will generate a pro-rated invoice from 13 August to 4 September, with regular billing starting on the 5th of each month thereafter.
Adjusting Billing Anniversary Dates
If you need to change the billing anniversary date for an existing agreement, follow these steps:
Terminate and Recreate the Agreement:
Terminate the current agreement
Recreate it with the desired move-in date that aligns with the new billing anniversary
Use the "Payments start on" field to account for any paid-through period
Amend the Existing Agreement:
Change the move-in date via an amendment
Handle any pro-rata credits during the final review to ensure accurate billing
Handling Pro-rated Charges
Pro-rated charges are automatically calculated based on the move-in date and the "Payments start on" field.
This ensures that customers are only billed for the period they occupy the unit before the regular billing cycle begins.
By following these guidelines, you can effectively manage billing dates and ensure accurate invoicing for your customers.
Need help?
Contact Storesync support at [email protected] or call 1300 786 914.
Live chat is also available from your Storesync dashboard.