After setting up your account, the next step is to configure how billing works in OfficeRnD Flex. Accurate billing ensures that all charges are applied correctly and meet your local tax and financial reporting requirements. You can tailor billing settings to meet the needs of your organization, whether you operate in a single location or across multiple countries.
By the end of this article, you will have added tax rates and tax policies, created revenue accounts, set your invoice and payment rules, and defined how purchases are processed. This setup will help ensure that your financial operations are consistent, automated, and compliant.
1. Add Tax Rates
Tax configuration in OfficeRnD Flex helps you meet local tax regulations by assigning accurate rates to your invoiced products and services. By setting tax rates at the global, company, member, or revenue account levels, you gain full control over how taxes are applied across different billing scenarios.
You can have different tax rates for various types of products or services, providing flexibility in our tax structure. This way, you can achieve better financial clarity and reporting accuracy.
2. Define and apply Tax Policies
You can set different tax rates for different locations by using Tax Policies. This is especially useful if you operate in multiple countries or regions with unique tax laws. A Tax Policy groups specific tax rates together, allowing you to apply them consistently based on a member's or company's location.
3. Add Revenue Accounts
Revenue Accounts help you organize and monitor various income streams, making it easier to analyze your financial performance and optimize your tax processes.
Revenue Accounts associate Tax Rates with specific Billing Plans, so that these tax rates apply to all invoiced products linked to that Billing Plan.
4. Review and update the billing rules
Configuring your billing strategy and structuring your invoices effectively is essential for clarity and accuracy. In the billing settings, you can configure automatic invoice generation, emailing, invoice charging, payment notifications, and more.
5. Configure Purchase Flows
Purchase Flows define how members are billed when they purchase services or create bookings. You can configure flows based on member status, plan types, and custom properties to ensure consistent invoicing and payment behavior.
Configuring Purchase Flows helps automate your billing process and ensure that only eligible members are allowed to make specific purchases.
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