Adding a New Credit Terms

You can create as many Credit Terms as you need (with special due and cut-off period, charge rate, etc.).

To add a new Credit Term:

1. Open the Business Director submenu on the Navigation tree and select the Billing Manager.
2. Open the Billing Manager submenu on the Navigation tree and select Settings. The Billing Manager Settings dashboard appears on the screen.
3. Click on Credit Terms link at the Billing Manager Settings dashboard. The list of credit terms appears on the screen.
4. Click the New Credit Term button. The New Credit Term form appears on the screen.
5. Fill the form:
   1. Title - short but descriptive name of Credit Terms.
   2. Default - If this checkbox marked, this Credit Terms will be offered by default while creating new Accounts.
   3. Order validity period - the maximal period of time an open Order can stay in the open state. After validity date an Order becomes cancelled automatically.
   4. Due period - the period of time during which an Invoice should be paid.
   5. Cut-off period - the period that starts after an Order validity period or Invoice due period runs out. An Order becomes cancelled. And an Invoice is considered as overdue and penalty (overdue charge) is imposed; in this case an additional Overdue Invoice is being issued, however, the charged services are being provided during cut-off period.
   6. Charge rate - penalty value (percents of Invoice sum). Applied on yearly basis. For example, if charge rate is set to 365%, then daily charge equals to 1% of Invoice total sum per day.
   7. Minimal charge - minimal penalty sum, regardless actual penalty sum calculated in accordance with charge rate.
   8. In the Subscription Expiration Terms section of the form, you can select the conditions of terminating the subscription after expiration. Next to the subscription period (1 month, 3 months, etc) select the periods:

      Grace period - the period that starts after a Subscription period expires. The grace period can be considered as additional chance for a debtor to renew his (or her) Subscription. During Grace period, a Provider already has the right to suspend services. After Grace period runs out, a Provider terminates Subscription. The minimal default Grace period - one day.

      Termination Period - the period of time after subscription expiration date in which a subscription is terminated without respect to any other conditions.

      Renewal order period - The period of time remaining to a subscription expiration date when a renewal order øû generated. The minimal default notification period is one day.

6. Click the Save button. To create another Credit Terms, repeat the steps described above.

Note: When creating a new Credit Terms, please remember that an Order validity period should exceed the Renewal Order Period. Otherwise, a renewal Order can be cancelled automatically before subscription expiration date.

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