Creating Billing Schedules with NetSuite Advanced Billing

🚨 Do you Need to Create Billing Schedules in NetSuite Using Advanced Billing? 🚨

This guide will walk you through the process of creating billing schedules in NetSuite, a great way to automate invoicing for recurring memberships or long-term service contracts.

Step-by-Step Guide 📋

1. Why Use Billing Schedules? 📅
   • Billing schedules define how and when to bill your customers.
   • They’re perfect for recurring invoicing (monthly, quarterly, or custom terms).
2. Navigate to Billing Schedules 🗂️
   • Go to: Lists > Accounting > Billing Schedules > New.
3. Set Up the Billing Schedule ✍️
   • Name: Give your billing schedule a clear name (e.g., “10% Quarterly”).
   • Initial Amount: Enter the initial billing amount (e.g., $500 or a percentage of the total sale).
   • Payment Terms: Select the terms for the initial payment.
   • Recurrence Frequency: Choose how often the invoices should recur (daily, weekly, monthly, custom).
   • Recurrence Count: Set the number of invoices to generate after the initial billing.
4. Advanced Options ⚙️
   • Relative to Previous: Check this to link subsequent bills to the completion of prior invoices.
   • Amount per Recurrence: Define how much to bill in each cycle as a dollar amount or percentage.
   • In Arrears: Select this to bill at the end of each period (uncheck for billing at the start).
5. Save Your Billing Schedule 💾
   • Once everything is set, click Save to finalize.
   • Private vs. Public Schedules:
     • Private: Only visible in transactions where they are created.
     • Public: Must be created from an estimate or sales order and can be reused.
6. Key Reminders 🛡️
   • Review schedules with mixed dollar and percentage fields carefully to avoid overbilling.
   • Ensure billing schedules align with your contract terms to prevent discrepancies.
7. That’s It! 🎉
   • Your billing schedule is now ready to automate invoicing.

Congratulations! 🎊 You’ve successfully created billing schedules in NetSuite using Advanced Billing! 🌟🎉

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