Stax Bill’s powerful Invoice in Advance (IIA) functionality lets you configure your Stax Bill account to set up subscriptions that issue invoices X days in advance of when they would normally recharge. Use this feature to:
- Have your customers pay for their services in advance of subscription renewals.
- Issue a posted invoice (with an invoice number) in advance of starting to recognize revenue.
How it works
You can configure plan frequencies to have an automatic Invoice in Advance setting from your account catalog. This way, all subscriptions created will have the IIA setting applied to their billing period by default.
You can also manually set Invoice in Advance in the settings for any existing customer billing period.
Whenever IIA settings exist, the Stax Bill system will issue an invoice the specified number of days in advance. This will result in a Ready Invoice, which can also be set to auto-post upon creation.
When the IIA invoice is posted, this will be recorded as a Sale in the Stax Bill system. However, the revenue recognition schedule for all charges on the invoice will maintain their proper Earning Start and End Date.
Performing billable actions after a subscription has invoiced in advance but before it has reached its regular subscription renewal date. This will result in larger pro-ration amounts. Service dates on invoices will reflect a larger period of time.
Caveats:
Migrations are not allowed on subscriptions with an IIA value <> 0 during their billing period.
Scheduling Subscriptions is not allowed for plans that have an IIA value.