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Managing Billing Cycle

Within Manage Billing Cycle, cairs.net defaults a few items for you. We default the Fiscal year start date to October 1st. We also determine the start day and end day for each month, you can edit these fields if necessary.

There are some important considerations to keep in mind when determining your billing cycle. First, the Run Month and Run Day, these fields determine the earliest date you can generate a bill. It is advisable that you allow a few days at the beginning of the Run Month to allow manipulation of accounts, if necessary.

Second, a system setting determines whether cairs.net generates the bill automatically, if set to true, cairs.net automatically generates the bill on the Run Day.

1.     Click the Accounting menu.

2.     Within the Navigation pane, click Accounts and then Official Accounts.

3.     There are two ways to manage the billing cycle:

·         Within the tool bar directly the Navigation pane, click the Manage Billing Cycle Plan button.

·         Within the Actions pane, click the Manage Billing Cycle Plan link.

4.   With either option, the Billing Cycle Plan window opens.

5.   The first step is to determine when your fiscal year starts, within the actions ribbon group click one of the following buttons:

·         Set to October 1st Fiscal Year – click this button to set the fiscal year as October 1st, once clicked the Billing Cycle Plan Dates pane changes to start your billing cycle with October.

·         Set to January 1st Fiscal Year – click this button to set the fiscal year to January 1st, once clicked the Billing Cycle Plan Dates pane changes to start your billing cycle with January.

·         Set Fiscal Year with First Start Month and Day – click this button to set the fiscal year to the first unofficial billing date as determined by the First Official Billing Date system setting

6.   Next, you determine the days to wait before running the bill and the bill due date Within the top pane complete the following fields:

·         Days to Wait Before Running Bill – type-in the number of days to wait from the end day to the day you want to run the bill, most times this is set to one or two. This gives your users the time fix any account issues.

·         Days to Wait Until Bill is Due – type-in the number of days to wait from the end day to the billing due date. Most times, this is set to 15 or 16.

7.   Now that you have determined your fiscal year start date and billing dates, it is time to complete the setup of your billing cycle. Within the Billing Cycle Plan Dates pane, complete the following fields (although some fields are auto-populated you can modified them to fit your needs):

·         Sequence – this field auto-populates with a number between 1 and 12 to reflect the corresponding location in the billing cycle.

·         Start Month – this is the first month of your billing cycle, this is determined by your Fiscal year start date. To change the month, click the field to access a dropdown arrow, once you click the arrow a list of month appears, click on the month. The selected month populates within the field.

·         Start Day – this is the first day of the month that you start your billing, most times this is the first of the month. To change the day, click on the field and type in the new day to start the billing.

·         End Month – for each start month, you must select an end month, most times this is the same month as the start month. However, you can bill for multiple months at a time by altering the end month. To change the month, click the field to access a dropdown arrow, once you click the arrow a list of month appears, click on the month. The selected month populates within the field.

·         End Day – this is the last day of the month that you will end the billing. To change the day, click on the field and type in the new day to end the billing.

! Do not forget about Leap Year, it occurs every four years! The end day for February is the 29th in a leap year. Here is a list of the next couple of leap years:  2012, 2016, 2020, 2024, 2028, 2032, and so on.

·         Run Month – this is the month in which you run the bill for the previous billing period. If you bill on a monthly basis, this is next month. To change the month, click the field to access a dropdown arrow, once you click the arrow a list of month appears, click on the month. The selected month populates within the field.

·         Run Day – this is the day of the run month that the bill generates. This field populates with the selection you determined in the upper pane. To change the day, click on the field and type in the run day.

·         Due Month – this is the month in which the bill you generate is due, this is most likely the same as the run month. To change the month, click the field to access a dropdown arrow, once you click the arrow a list of month appears, click on the month. The selected month populates within the field.

·         Due Day – this is the day the bill is due. This field populates with the selection you determined in the upper pane. To change the day, click on the field and type in the due date of the bill.

8.   Within the Actions ribbon group, click the Save (to save and stay) button to continue working with billing cycles, or click the Save & Close (to save and exit) button to return to the Official Accounts list.

 

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