In case of recurring bills or subscription invoices you can choose the frequency of creating and sending invoices. Once a subscription has been setup your bills reach your customer automatically as per your chosen frequency. With this you would need your billing period to change automatically as well.
For example, if a subscription has been created on Jan 2020 to be sent out every month for the next 12 months. Then the first bill should have billing period set as January 2020 and the next bill should have the billing period set as February 2020 and so on.
To setup up a dynamic billing period you need to:
- Update your invoice format
- Setup your subscription
Update your invoice format
- Navigate to Collect Payments -> Invoice Formats -> List format or create a new invoice format
- Under the Invoice information area in the Billing Details section click Add custom field
- In the Field property box choose Datatype as Text, Column name as per your preference for ex. Billing cycle and in Functions drop down select Dynamic billing period.
Setup your subscription
- To create a subscription with dynamic billing period navigate to Collect Payments -> Create Subscription
- Under the Invoice Information section set the start date of your billing period in the Billing period start date field
- Next set the duration of repetition of your invoice in either Months or Days in the Add duration field. This period will be used to auto-calculate the billing period of your invoices. For ex. Read more (TBD).