SMARTEDGE supports three different types of Contract Invoicing:

Subscription Contracts
Subscription Contracts are used to produce periodic invoices (usually monthly). They are linked to a job, through the field Invoice Cycle.

When a subscription contract is invoiced, the full amount of the contract is invoiced.

Although a Subscription Contract is linked to an invoice cycle, it can also be invoiced ad-hoc by clicking the button Create Invoice.This is convenient if you need to issue an initial Pro-Rata invoice for the first period of the contract.

Sales Contracts
Sales Contracts are used for progressive invoicing. In other words, the contract is invoiced several times until the full amount of the contract has been invoiced.

Sales Contracts are not linked to an invoice cycle, therefore invoices are made out by clicking the button Create Invoice.

For Sales Contracts the amount to invoice for each invoice is determined by a pro-rata percentage entered when issuing the invoice. This pro-rata percentage can be different for individual item lines. Sales contracts are usually only used for service items and not for stock items, although stock items can be included. If stock items are included, the quantity delivered and invoiced is calculated based on the pro-rata rate.

Multi-Delivery Contracts
Multi-Delivery Contracts are used for progressive deliveries and invoicing. In other words, the contract is invoiced several times until the full amount of the contract has been invoiced.

Multi-Delivery Contracts are not linked to an invoice cycle, therefore deliveries and invoices are made out by clicking the button Create Invoice.

For Multi-Delivery Contracts the quantity to deliver and invoice for each invoice is determined by the quantity entered when issuing the invoice. Multi-Delivery contracts are usually used for stock items, where a contract to deliver products over time has been entered into. If service items are included, the quantity invoiced of the service item determines the amount invoiced.

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Subscription Contracts, in particular, allow you to generate all of your periodic Invoices at once. For example, if you are billing your customers on a monthly basis you can add all their Contracts to a single Invoice Cycle. When you run the Invoice Cycle your Invoices will all be generated at once and (if so configured) be automatically e-mailed to your customers.

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You can also send Contract Confirmation e-mails to your new Customers, allowing them to electronically sign their acceptance of the Contract and the related Terms and Conditions. This can also be used with your Debit Order system.


 

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