The 28 Day Billing Cycle


Back Office Overview Information Guide -> The 28 Day Billing Cycle

Most firms issue "monthly" invoices every 4 weeks, becoming a 28 Day cycle.
This results in 13 monthly" invoices in the year.
The easiest way to understand and to work with the 28 day billing cycle is to manually mark up a wall calendar.

MARK YOUR WALL CALENDAR:
Take a wall calendar, and manually mark EACH day on the entire calendar with the correct cycle billing day code.
BEFORE YOU BEGIN, look at Review Calendar to see what billing day code should be used as the first code to begin the calendar month.

Number each day including weekends 1 through 28, and once you reach code 28, start over again numbering at code 1.
Mark the calendar for the ENTIRE year.
Refer to Cycle Billing Days for information on how the Billing Day Codes define when each contract is billed.
After you have billed each day, mark an X on the calendar on that day to track where you left off with the billing.


HOW A 28 DAY CYCLE WORKS:
Cycle Billing runs can be initiated independently for each cycle billing day, or once a week or once a month to bill all unbilled eligible contracts up to their latest full billing period.

ADVANTAGES OF THE 28 DAY CYCLE OVER THE MONTHLY CYCLE:
The monthly cycle generates 12 monthly invoices in a year as outlined in The Monthly Billing Cycle.
Some advantages of the 28 Day Cycle include:

If your firm uses a combination of 28 day and monthly billing periods to meet customer requirements, refer to Default Billing Method in the Calendar to setup the billing day codes correctly, and activate the Respect Customer Cycle Bill Interval option in the Company Billing Parameters so that individual customers can be flagged with their billing preference in Customer Billing Settings.


Topic Keyword: BO000604
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