Do you sell your products on a subscription basis?
With the Subscription Management app, you can easily manage your subscriptions, monthly payments and billing.
Do you sell a monthly subscription billed in quarters in arrears? A weekly subscription billed every month in arrears? This app makes it possible.
Activating the app lets you compose your subscription products and activate and invoice your customers' subscriptions.
The app's principle is to separate your subscription periods and their billing. This gives you unprecedented flexibility.
1. Composition of your subscription products
Go to your product catalog and create a new product. Indicate that it is a subscription, and you will then have the following settings:
- Period length: this is the length of your subscription periods. One week, one month, two months, three months, six months and one year
- Period start: indicate whether your periods should start on the 1st of the month/quarter, or on anniversary dates.
- Last breakable period: select "yes" if you agree that the last subscription period should be interrupted in progress, or if it should continue until the end of the week/month/etc.
- Billable periods: indicate the date on which each period becomes billable. Beginning of period? At end of period? As soon as the period is billable, it can be inserted in an invoice.
- Period rate: choose whether your periods are due as soon as they start, or whether they can be billed on a pro rata basis. In the latter case, the pro rata calculation is done for you.
- Product price: Finally, enter the product price. This is the rate that corresponds to a standard subscription period.
2. Create your customer subscriptions
Have you sold a subscription? Here's how to register it: create a new contract, as a subscription is a special type of contract. Indicate that it's a subscription and enter the special conditions:
- Product: select the relevant subscription product
- Start date, end date and customer: enter this information about your sale
- Billing frequency: indicate whether this subscription is to be billed monthly, quarterly, semi-annually or annually. This is completely independent of your subscription periods.
- Invoice date: indicate whether your invoices are issued at the beginning or end of the month/quarter/etc.. If you wish, you can also enter an offset. This allows you to invoice on the 5th of each month, or on the 31st of the last month of each quarter.
- Invoice aggregation: indicate "yes" if you want invoiced periods to be added to any of your customers' invoices, if any exist for the same date. Otherwise, each subscription will be billed separately.
3. Generation of subscription periods
Are your settings complete? Still on your contract, click on Generate periods. The application then generates your subscription periods, which you can view in a list, with a graph of your sold and invoiced subscriptions.
4. Invoice generation
Are your periods valid? Click on Generate invoices. Your subscriptions will be added to new or existing invoices. Never, of course, in invoices already validated or sent to the customer. Each insertion will include the subscription name, start and end date, and the amount will be calculated according to your settings.
In this way, your subscriptions are automatically taken into account and can be viewed in your annual balance sheet and cash flow forecast.
You can choose when you want to create invoices:
- "At once": when invoices are generated, all invoices to be issued are created at once.
- "In several instalments, on each issue date": Invoices to be issued will be created on the day corresponding to the billing date of your invoice. Use the "Billing date" fields to set the creation dates for invoices to be issued generated from your subscription contract.
