Billing and invoicing is probably the most tedious task of managing a co-working space but it is also one of the most crucial parts of the job. It is important to structure your invoices effectively, making sure that the information is correct so that it is easily understood by everyone.
Where Can I Change my Billing Settings?
In order to change your billing settings, navigate to Settings / Billing / Invoicing from the admin portal.
What Options Can I Configure?
Currency – Set the currency which should be used as a standard to your portal.
Billing Date – Allows you to choose which date will be the start date of the billing period for your members (the billing period is 1 month). You can select either the Member start date (anniversary billing = the date on which the company/member joined the space) or a certain date of the month. If you select, for example, the 1-st of each month to be your billing date, this means that the customer will be charged for using your services between the 1-st and the last day of the month.
Proration – Used for those members that join your space after the billing date; in those cases, the system will prorate the amount the customer owes based on how many days he will spend 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 (read more here).
- 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 of them is listed right below that field in the admin site.
Two additional settings that we have available here are: An invoice can have invoice line items which could be $0.00 priced and the below two options could be used if an admin would like to filter the $0.00 priced or to enable generating an invoice with total value $0.00.
- Filter invoice line items with $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 will not show up as the system would filter them out.
- Enable creating invoices with $0.00 total amount - An invoice can be created with a total or sum of $0.00.
Note: Please do not enable both as this wouldn't let admins create invoices that are priced $0.00 and would create an error.
Single invoice – all charges (memberships, fees, bookings) are grouped into a single invoice.
Separate invoices – all memberships are grouped into a single invoice, all additional charges (fees and bookings) are grouped into a separate invoice.
- Separate invoices by contract - allows you to generate invoices separately from the other services (mainly used by companies/members that have got multiple contracts).
Tax – Excluded / Included / No Tax.
Excluded - The tax rate will be applied on top of the prices you've created for your services (billing plan & resource rates).
Included - The tax rate is already included in the prices that you've created for your services.
- No Tax - There will be no tax rate(s) in the invoice.
Tax Rate – Choose from the list of tax rates created to be applied to the invoice amount.
To create a Tax Rate - Navigate to Settings/Billing/Accounts and click Add tax rate – Enter the name, type of tax, components and the value and create by clicking Add. The created tax rate could be applied to invoices.
Note: Please click the blue Add button and not the white one to create the tax rate.
- Click the checkbox "Enable billing to member" to enable invoicing and charging to member's personal payment details (for those members that are part of a company).
Important: Please note that at the moment only the admin team can enable this (through the membership / one-off section in their profile page on the admin site). If the company employee decides to purchase anything through the members portal, by default the company will be charged for it.
We’ll generate invoices:
Our system can automatically generate invoices for your organization by enabling the "automatically" setting from this section.
The rules which you can set for the billing run are:
1. Enter X number of days to generate the invoices before the billing date.
2. Enter X number of days in the second input box to have an issue date for the invoice before the billing date.
3. The last checkbox configures the due date with X number of days after the billing date.
- If you want the invoices to be issued on the exact date and not use the options above you can enable the option "Use the exact day of the month dates for the automatic generation of invoices".
Upon enabling this you'll be given the option to change the generation, issue and due dates of the invoices respectively.
For each date you'll have the following options:
1. X day of the month - the exact day of the month on which you'd like the date to be set.
2. X month as the billing date - here you can select whether the date should be in the same month as the billing date of your organization, the month before that or the month after.
Example: If your billing date is set to the 1st and you set the invoices to be generated on the 1st of the month and "a month before" the billing date this means that the invoices for the next month are going to be generated on the 1st of the current month.
- "Prorated 'Draft' invoices" Check the box to keep prorated invoices as a draft that needs to be reviewed.
- The last checkbox can enable automated invoice sending upon generating the invoice (please note that once the invoices 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:
To set up processing fees, please click here to redirect to our help article.
- 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 enabling those functionalities.
We’ll email invoices:
Send the invoices to the company email address and/or to the billing person of the company by checking this section. There is an option to attach the invoice PDF along with the email sent along with the option to CC another email which could be an admin alternative email.
To avoid any issues, please ensure that each company/billing person has an email address added in the system.
We’ll charge invoices:
Select automatically to charge invoices of companies or members through your payment gateway that you have integrated with OfficeRnD.
We’ll send a notification if a payment fails to:
Notify members and/or admin if an invoice fails to be charged (used for automatic payments that go through a payment gateway that is integrated with OfficeRnD).
We’ll send overdue reminders:
Click on "automatically" to send overdue invoice reminders. You have three date slots available in order to input your reminder dates.
Note: These reminders are sent automatically based on the dates, which you set. They cannot be triggered manually.
Generate invoice numbers in OfficeR&D:
Available only if you have an integration with accounting software (Xero or Quickbooks). If you want your accounting software to create the invoice numbers this checkbox should not be selected.
- Generate invoice documents in OfficeR&D:
Available only if you have an integration with accounting software (Xero or Quickbooks). If you want your accounting software to create the invoice PDF documents this checkbox should not be selected.
The final section in the billing settings section is to customize the invoice template. You are able to add custom properties enlisted and for more information or support in setup, please contact our support team or your onboarding representative.
Note: Click the link below to learn about Manual Bill Run.