Product Pricing & Billing Settings

Owned by Apostolos Karakaxas
Last updated: Oct 12, 2022 by Panagiotis Papanastasiou
2 min read

Some basic billing settings for subscription-based products lay on the 'Products' module. Those can be found in the 'Pricing' section.

  • Volume Discount: The product will be priced according to the applicable volume discount policy.

  • Available Currencies: The product will be available for purchase in the currencies defined here.

  • Usage Charge Rule: In this field, you need to define whether the system will charge a license for the whole or only the partial billing period, in cases where a customer makes a purchase during the billing cycle. 

    • For example, if the subscription anniversary day is the 5th of each month and the customer purchases a monthly license on the 20th, a partial charge rule means that the customer will pay only for the remaining days of the billing cycle, whereas a whole charge rule means that the customer will pay for the full month.

  • Term (Months): This field allows you to define a specific number of months during which the subscription will be offered at a locked price, even if the product changes price during that period.  Refer to the page https://interworkscloud.atlassian.net/wiki/spaces/ICPD/pages/4661950  for more information.

  • Number of Decimals: Defines the number of decimals for the amounts of the unit group.

  • Upfront Billing: The subscription will be invoiced in advance at the beginning of the billing period (for example, if a subscription billing cycle is from March 1st to March 31st, then the system will generate an invoice on March 1st including the charges for the entire March. 

    • If the box is NOT ticked, the subscription will be paid in arrears. This means that, in the example above, the invoice issued on March 1st will include the charges for February.

  • Billing Date: Defines the anniversary date for the subscriptions of this product. There are three options: 

    1. Apply customer's option: This means that the subscription’s anniversary date will be the customer's billing date. Should the customer not have a specific billing date defined, the subscription will obtain the order date as the billing date.

    2. Exclude from pro rata: The subscription will obtain the order date as the billing date, regardless of whether the customer has defined a billing day or not. 

    3. Set specific billing day: The subscription will have a specific billing day, regardless of whether the customer has defined a billing day or not.

  • Free Period: You can define if the first period from order day until the first billing day of the subscription will be free of charge for the customer or no. Refer to the page https://interworkscloud.atlassian.net/wiki/spaces/ICPD/pages/4661624 for more information.

  • Number of Decimals: Defines the number of decimals for the amounts of the unit group.

  • Sell Price: The retail price of the product, i.e., the price that will pay the end-user of the product. 

  • Purchase Price: The price at which you purchased the product from your vendor.