Billing and invoicing are often the most tedious yet vital tasks in managing a co-working space. Effectively structuring your invoices is essential to ensure everyone comprehends the information clearly and easily. To achieve this, you can configure the billing settings for your organization.
Where can I configure my billing settings?
To configure your billing settings, open the Admin Portal and go to Settings > Advanced Settings > Billing Rules.
What options can I configure?
Currency – Set the currency that should be used as a standard for your portal.
Billing Period Start Date – This refers to the beginning of the timeframe for which Flex issues an invoice to a company or a member. You can configure a global Billing Period Start Date in Settings/Billing Settings/Billing Rules or set an individual Billing Period Start Date per company or member as part of a manual bill run.
The billing period for all customers begins on the first day of each month and ends on the last day of the month. Using a fixed day of the month as the start day ensures consistency, making the billing process easier for you and your customers.
If you choose the Member Start Date, the company or member's start date will be used as the start date of their billing period. This means that each customer can choose their individual start and end dates for the billing period. Learn more about custom billing dates for members and companies →
Proration – Proration is used for members who join your space after the billing date; in those cases, the system will prorate the amount the customer owes based on the number of days he spends with you during that month.
Depending on which invoice should be prorated, you have two options: either prorate the first invoice the customer will receive or the second one. Learn more about proration and how it works →
You can also choose how the system will calculate the proration (using the Average month length or the Current month length). The formula used for each is listed below that field in the Admin Portal.
Two additional settings are available: An invoice can have invoice line items that could be priced at $0.00. The following two options could be used if an admin wants to filter the $0.00 priced invoices and wants to allow generating an invoice with a total value of $0.00:
Filter invoice line items with a $0.00 total – Any $0.00-priced line item will not be added while generating an invoice with fees and memberships. The system would generate invoices with fees and memberships, and the $0.00 would not appear as it would filter them out.
Enable creating invoices with a $0.00 total amount – An invoice can be generated with a total or sum of $0.00.
Note: Please do not enable both, as this would prevent admins from creating invoices priced at $0.00 and would create an error.
Invoice Segregation:
By fee type
Single Invoice: For membership fees, one-off fees, and bookings
Separate Invoices: For each type of fee
By contract type
Single Invoice: For membership fees from all contracts
Separate invoices: For each contract
Note: This is only available for the manual and the automatic bill run. The groups will not be separated if you add an invoice (using the Add Invoice button in the company/member profile).
Tax:
Excluded – The tax rate will be added to the prices you've created for your services (billing plan and resource rates).
Included – The tax rate is already included in the prices that you've created for your services.
No Tax – The invoice will have no tax rate(s).
Tax Rate – Choose from the list of tax rates created to be applied to the invoice amount.
Billing Details Update – If the member company's billing details have changed and you would like to update them for issued invoices, this billing details update setting has two options: not to update the billing details of issued invoices or the opposite. By default, the setting is enabled to update the billing details of issued invoices.
Enable billing to member – Allow invoicing and charging to member's personal payment details (for members part of a company).
Important: Please note that only the admin team can activate Billing to members (through the membership / one-off section on their admin site profile page). If a company employee decides to purchase anything through the members portal, the company will be charged for it by default.
Make 'Product' a required field – Activate this option to make it mandatory for a plan to be specified for all new one-off fees. Updating an old one-off without a plan will require entering a billing plan. By default, you can create fees without a target plan, and they will be automatically associated with the default one-off revenue account.
Enable approval flow for one-off fees – Activate this option to allow the system to require approval when a one-off with a discount greater than a set value is created.
Approval rules can be set when you go to Settings > Billing Settings > Billing Rules and activate Enable approval flow for one-off fees. Then, the one-offs that require approval will follow the set rules, and approval notifications will be sent to all admins with owner-level access.
There are 2 fields that you can adjust:
Valid For is a multi-select field where you can select all billing plans for which this rule applies.
Leaving this field empty will enforce the rule for all one-off billing plans.
Require approval when the discount exceeds X% – Here, you can specify the discount limit that can be applied without approval. Any fees with a discount greater than this value will require approval.
Leaving this field empty means that no approval will be required for any one-off; a value must be set in this field for the option to work properly.
We’ll generate invoices
Our system can automatically generate invoices for your organization by enabling this section's "automatically" setting.
The rules which you can set for the billing run are:
Enter X number of days to generate the invoices before the billing date.
Enter X number of days in the second input box to have an issue date for the invoice before the billing date.
The last checkbox configures the due date with X days after the billing date.
Note: The Billing Date refers to what you have selected as the Billing Date option. If it is 1st or any other number, these settings will take the number as the billing date. If you have selected 'Member Start Date,' the settings will take the individual billing date for each member. Learn more about custom billing dates for members and companies →
If you want the invoices issued on the exact date and do not use the options described so far, you can activate the option "Use the exact day of the month dates for the automatic generation of invoices." Upon enabling this, you'll be able to change the invoices' generation, issue, and due dates, respectively.
For each date, you'll have the following options:
X day of the month – The exact day on which you'd like the date to be set.
X month as the billing date – Here, you can select whether the date should be in the same month as your organization's billing date or up to three months before that.
Example: If your billing date is set to the 1st and you set the invoices to be generated on the 1st of each month and "a month before" the billing date, the invoices for the next month will be generated on the 1st of the month.
Require approval for prorated invoices – Select the checkbox to keep prorated invoices as a draft that needs to be reviewed.
Automated invoice sending – Select the checkbox to allow automated invoice sending when generating the invoice. Once the invoices are generated, members will be able to see them in the portal even if you have not sent them out yet in an email form).
We'll generate processing fees
We'll generate late fees
We'll let you edit and delete the following types of invoices
Select the checkboxes to let admins edit sent and voided invoices. Please make sure that this is in compliance with the laws in your country before activating these functionalities.
We’ll email invoices
Check this section to send the invoices to the company email address and/or to the company billing person. You can attach the invoice PDF to the email sent and CC another email, which could be an alternative admin email.
To avoid any issues, please ensure that each company/billing person has an email address added to the system.
We’ll charge invoices
Select Automatically to charge companies or members' invoices through the payment gateway that you have integrated with OfficeRnD. If this option is turned on, OfficeRnD will automatically charge your invoices on their due date if the company or member has payment details entered into the system.
If a company or member enters their payment details after the first automatic charge is generated, OfficeRnD will attempt to charge them again daily at 3:00 AM, 9:00 AM, 3:00 PM, and 9:00 PM.
If the payment fails (for example, due to insufficient funds), the system will not attempt to charge the invoices again.
We’ll send a notification if a payment fails to
Notify members and/or admin if an invoice fails to be charged (this is used for automatic payments that go through a payment gateway integrated with OfficeRnD).
We’ll send overdue reminders
Select Automatically to send overdue invoice reminders. You can input your reminder dates using three date slots.
Note: These reminders are sent automatically based on the dates you set. They cannot be triggered manually.
Generate invoice numbers in OfficeRnD
This checkbox is available only if you integrate with accounting software (Xero or Quickbooks). Do not select it if you want your accounting software to create the invoice numbers.
Note: When you connect OfficeRnD to a QuickBooks instance that invoices other products or services besides OfficeRnD invoices, we recommend using QuickBooks numbering to avoid the two systems duplicating invoice numbers.
In that case, go to Settings > Billing Settings > Billing Rules and clear the Generate invoice numbers in OfficeRnD checkbox. You must also have Custom transaction numbers turned off in Quickbooks.
If you let OfficeRnD generate the invoice numbers, enable the Custom transaction numbers in QuickBooks. To find that setting, open QuickBooks in a new tab, click the cogwheel, and select Company Settings. Open the Sales tab, and under Sales from Content, select the Custom transaction numbers.
Generate invoice documents in OfficeRnD
This checkbox is available only if you have an integration with accounting software (Xero or Quickbooks). If you want your accounting software to create invoice PDF documents, this checkbox should not be selected.
Invoice number template
When generating billing documents, the system can automatically assign numbers based on a template in an ordered sequence. Users can also opt out of the system's automatic number assignment, which allows an accounting integration to create and sync the numbers.
The final section in the billing settings section is to customize the invoice template. You can add custom properties enlisted. For more information or support in setting up, please contact our support team or your onboarding representative.
Properties must be inserted in double curly brackets: ##{{ locationCode }}
Note: You can learn about Manual Bill Run here.