The NetSuite Recurring Billing SuiteApp manages your business’ pricing and rating strategies and automates your company’s billing and invoicing processes. The solution supports businesses that sell recurring and usage-based products and services in a brick and mortar or online operations. Recurring Billing is provided as a SuiteApp developed by NetSuite. Contact your NetSuite account manager to purchase the Recurring Billing SuiteApp and to have the bundles shared with your account so that you can install it. The Recurring Billing SuiteApp enables you to do the following:
■ Define an item as a recurring service or a product that will be delivered to a customer through a subscription.
■ Create billing plans and charge plans as templates to set up subscription plans and subscription plan items.
■ Set up rate plans to define the charging structure of subscription plan items.
■ Set up subscription plans and subscription plan items that will be used to create customer subscriptions.
■ Create subscriptions by entering a subscription sales order and adding subscription items to define the services that are sold to a customer. You can also create a subscription opportunity or estimate during negotiations, which you can later convert to a subscription sales order when the order is accepted by the customer.
■ Import recurring billing data including usage data, which is used as basis for computing charges for usage-based items.
Recurring Billing automates the generation of subscriptions through a workflow that manages the subscription states.
This SuiteApp also includes support for the following features:
■ Recurring, usage (fixed and variable), and termination fee billing
■ Terms and renewals
■ Proration (on sale and on termination)
■ Usage data filtering
■ Billing methods (arrears and advance)
■ Invoice aging
■ Fixed date and anniversary type billing runs
■ Billing console to manage fixed date billing runs
■ Revenue Recognition
■ Sales order in-line discounting
■ Per item taxation
■ Reporting and analytics
■ Invoice templates
■ Pro forma invoicing
■ Usage sibling aggregation
■ Usage historical pricing