Periodic Billing for Rental Contracts

[Former Member]

Hi Gurus,

Periodic Billing for Rental Contracts

I have a customer requirement where in i need to create a Rental Contract of type say MV.

Billing should be periodic in nature. Say today is the GI date 22/SEP/2008, they give 7 days of lead time up to 29/SEP/2008. From this date onwards the customer is to be billed. They do the invoicing on a quartely basis. From 29/SEP/2008 up to 28/DEC/2008, they need to create one single invoice. This single invoice will be generated sometime in January 2009. How will i configure the system to generate date specific invoices...?

In Periodic billing system will generate billing only on month ends say 30/SEP/2008, 31/OCT/2008 and so on...

This is a high priority issue...Please reply with a solution as soon as possible;

Thanks in advance;

Regards,

Syed Nasir

[Former Member]

Hi Syed,

This is not an easy option to do:

In our case, we have opted out of this scenario, but we have evaluated these two options:

1) You can do the monthly billing as present in the SAP, and then you can make one lumpsum invoice for the three invoices generated in a quarter. But the problem is that the revenue shows to be pending and can hurt the business targets.

2) If you have to create this process for only few customers. You can use any two special fields for the contract one field for date and a field for quaterly tagging. Then you have to just create a daily batch job which invoices the contract on the basis of contract type, date and tag. But if you have large number of contracts to process then this would not be recommendable solution.

Hope this helps,

Abhishek

[Former Member]

Hi Abhishek,

I did not understand the option number 2 given by you.

Can you please elaborate that point.

What exactly is tag?

Regards,

Syed Nasir

[Former Member]

Hi Syed,

What I mean to say, that you will have to create two extra fields for contract. One field is for date and other is a flag field. The first field will identify that this is the date on which the contract has to be billed and second field needs to carry the siginifcance of quartery billing.

So when your batch job runs it shoul check for flag and match the date. If both are found to be true, it will be billed.

Hope this clears it for you

Abhishek