Salesforce Billing

Discover the power of Salesforce Billing Treatments and learn how they can streamline your financial record-keeping. Delve into this crucial aspect of Salesforce with our explanations.

Finance books and finance periods are essential for keeping track of a company's financial transactions and performance. This blog post will guide you through the process of creating a finance book and finance periods.

Learn with us how Salesforce Billing keeps track of all your transactional records with the help of Finance Books and Finance Periods.

Refunds are actual funds, money that go back to the customer. There are two modes of refund: External, as in manual, e.g. a refund check, Electronic, issued through a payment gateway.

The Payment Center allows us to use the ACH or credit card payment method to create the payment and payment allocation records in just a few clicks. 

The Payment Scheduler is a built-in functionality and it works similarly to the Invoice Scheduler, except that it doesn't create invoices, obviously, but creates payments.

When using electronic payments through the Payment Gateway functionality, we have the ability to automate these steps.

We can also unallocate payments if, for example, a payment may have been erroneously applied to an Invoice Line.

While the Payment record is still in Draft status, it's not eligible for Allocations. When its status changes to Posted, the Allocations button becomes available in the top right corner on the Payment record.

When a customer sends in a payment for an invoice, we want to be able to record that in Salesforce and be able to allocate it against the correct invoices. Salesforce Billing tracks and allocates payments using several objects.

If you contract from Opportunity, the Terminated Date on the original Order Product doesn't get populated. This happens only when you contract from Order.

Find out with us what are Invoice Batches and what is their purpose

Invoice Schedulers can be set up to run Daily, Weekly, Monthly or Once.

Most businesses want to generate invoices regularly instead of creating them manually with the help of the Bill Now checkbox. To establish an invoicing routine, invoice schedulers are to be used. 

Sometimes customers may wish to pay upfront for multiple years of their subscription (i.e. years 1, 2 & 3). In this case, you would need to select the relevant subscriptions and invoice them ahead of schedule.

The quickest way of generating an invoice for a single order when the invoice is required immediately is by using the Bill Now checkbox.

In the previous blog post we discussed about the Credit functionality. Let’s look now into the Cancel and Rebill functionality. The difference between these two is that with Cancel and Rebill we intend to invoice for those same products again, while with Credit we just want to write off the invoice, we are not fixing any errors, we simply aren’t invoicing for the products again.

Credit Notes mimics the data model of the Debit Note we outlined in a previous blog post while, as opposed to the Debit Note, it adjusts the invoice balance in favor of the buyer by decreasing the amount of the invoice.

Debit Notes and Credit Notes represent a way of adjusting errors on a posted invoice. Find out how to create a debit note record and allocate the debit note lines to increase the balance of an invoice line.

Salesforce Billing allows you to generate multiple invoices per order or consolidate invoices across multiple orders to ensure that customers are efficiently billed. There are two default ways but custom splitting is also possible.

Under certain business circumstances, it might be necessary to change the date when invoices and invoice lines are generated for certain order products.

In a broad sense, an invoice is a document that contains a list of products and (or) services alongside the total amount the customer must pay for them, just like a bill at a restaurant. In Salesforce Billing, invoices are records that hold this information.

What are the benefits of using Salesforce Billing besides minimizing errors? Follow the link to find out more.