Create Recurring Invoices, Payment Reminders, Penalty and Billing Schedules right within Dynamics 365 CRM!

By | June 20, 2020

Subscription Management

Any software that provides automation minimizes the manual effort and optimizes the accuracy of its implementation. In Dynamics 365 CRM there is a wide scope of automation of manual tasks to expedite the business process. In Dynamics 365 for Sales, there is a process that is iterative in itself, i.e. creation of recurring invoices at regular intervals. If these invoices are created manually each time it is required, one can only imagine the time it would cost. So here we would like to ask you, do you also run a process in Dynamics 365 CRM where you need to manage recurring invoices repeatedly? If yes, you are at the right place.

We would like to introduce you to our app Subscription Management that is designed exclusively for Software Publishers and Value Added Resellers using software as a service model. It manages flexible billing schedules, penalty schedules, payment reminders, margin schedules and product licensing. With billing schedule being the heart of the process, it governs if an invoice should be created, when it should be created, how often it should be created and what value should be on the invoice.

Let’s understand the app with the help of a use case.

Suppose Sarah is a sales rep who needs to create recurring invoices for her end customers along with sending them payment reminders as well as levy penalty in case of overdue invoices. For this Sarah first creates Reminder Schedule which is used to send reminders to the customers and associates Reminder Rules as per necessity. This determines when the reminders will be sent to the customers. She needs to remind the customer 30 days before renewal is due so she creates a Reminder Rule for the same. She defines the functional roles to which the reminder would be sent using the selected email template.

Create Recurring Invoices

Now that Sarah has created Reminder Schedule, she wants to define penalty for overdue invoices so that the customers are charged if they do not pay the invoice in time. She applies penalty on Invoices that are overdue by 30 days so a Penalty Schedule for the same is created. She applies a penalty of 2 percent on the invoice amount.

Create Recurring Invoices

After creating a Penalty Schedule for her invoice Sarah needs to set the margin for the resellers who are billed for the invoice. As per contract, the resellers are paid a margin of 10 percent so a Margin Schedule is designed accordingly for them. For this, first a Margin Group is associated with the Product and Customer and then it is added to the Margin Schedule. The Margin Schedule is used to add margin for the resellers while calculating Invoices.

Create Recurring Invoices

Having set the Margin Schedule, Sarah needs to define the Billing Schedule using which the Invoices will be sent to the customers along with payment reminders, penalty to be levied and margin for the resellers. In the Billing Schedule she defines billing frequency, when to generate invoice, how many invoices should be generated, Reminder Schedule and Default Penalty Schedule.

Create Recurring Invoices

Using this Billing Schedule Invoices will be generated either on-demand or by automation of the process. Billing Lines are added to the Billing Schedule against which the Invoices are billed. Also, the Product Platform, Product Version, and Product Series are defined to identify which product’s platform, version and series are being billed for.

Create Recurring Invoices

After the Billing Schedule is defined Sarah can easily generate Invoices from them. For this she needs to run a workflow that generates on-demand invoice for the defined Billing Schedule (the same can be automated). Sarah can also go to the Invoice and verify that Billing Lines are added to the Invoice. Therefore by using Subscription Management Sarah is able to generate Invoices for her customers automatically and save plethora of time to be used in other constructive tasks.

If you also need to send payment reminders, create margin schedules, set flexible billing schedules, define penalty, product licensing and create recurring invoices for your organization, all you need to do is explore our app Subscription Management for a free trial of 15 days from our website.

For a live demo or to discuss your requirements please email crm@inogic.com

Happy Invoicing and getting money on time ;-)!

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