Inception Billing (Billing a New Account for a Partial Opening Period Fee)

Inception Billing (Billing a New Account for a Partial Opening Period Fee)

BillFin can calculate a prorated partial fee for a new account's first billing period.  We call this inception billing. To setup an account for inception billing, you simply need to add a Start Billing Date to the account.


How BillFin Handles Inception Billing For Clients Billed Forward Or In Arrears

If billing forward, BillFin handles this opening period's fee by adding it as an adjustment to the first full period's fee.  

Quarterly Scenario:  If an account was opened in June, it would not appear in the Q2 (April) billing cycle. Rather, it would be seen and be billed in full for the Q3 (July) billing cycle with an additional fee as an adjustment for the days managed in June. 
If you would like to bill these new clients/account immediately, follow this link with steps to bill those accounts (forward billing only).
 

If billing in arrears, BillFin handles this opening period's fee by simply prorating for actual days managed.

Monthly Scenario:  If an account opened in June, you would see the account get billed in the July (June 1st - June 30th) billing cycle based on x/365 for the first period only.

Regardless of whether accounts are billed forward or in arrears, you need to add a "Start Billing Date" to the account.  Steps on how to do that are found below.


To Add a Start Billing Date (Inception Billing):

- Click on Clients on the left side menu


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- Hover over the pencil next to the client with an account needing the Start Billing Date setup

- Click on "View Client Details"


A slideout window will open

- Click on the pencil next to the account needing the Start Billing Date in the Accounts section



A new slideout window will open

- Enter the Start Billing Date in the box under the Billing Information section



- Save

- Save for the Current Period