Configure Your Organization's Billing Settings

Introduction

Billing and invoicing are probably the most tedious tasks of managing a co-working space, but they are also one of the most crucial parts of the job. It is important to structure your invoices effectively, ensuring everyone understands the information correctly and easily understands the information.

Where Can I Change my Billing Settings?

In order to change your billing settings, navigate to Settings/Advanced Settings/Billing Rules in the admin portal.

Shortcuts

• We’ll generate invoices
• We'll generate processing fees
• We'll generate late fees
• We'll let you edit and delete the following types of invoices
• We’ll email invoices
• We’ll charge invoices
• We’ll send a notification if a payment fails to
• We’ll send overdue reminders
• Generate invoice numbers in OfficeRnD
• Generate invoice documents in OfficeRnD
• Invoice number template 

What Options Can I Configure?

• Currency - Set the currency that should be used as a standard for your portal.

• Billing Period Start Date - 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 1st day of each month and ends on the last day of the month. Using a specific day of the month as the start of the billing period creates consistency which simplifies the billing process for both you and your customers.

  If you choose Member Start Date, the company/member's start date will be used as the start date of their billing period. This means that each customer can choose their own start and end dates for the billing period. Click here to learn more.

• 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 that could be $0.00 priced, and the below two options could be used if
    - an admin would like to filter the $0.00 priced
    - an admin would like to enable 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 $0.00 total amount - An invoice can be created with a total or sum of $0.00.

• 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)

• Tax - Excluded / Included / No 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 - 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.

• 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 - 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 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 - enabling this option will make it mandatory for a plan to be specified for all new one-off fees.
  Updating an old one-off without a plan will also require you to enter a billing plan.
  You can create fees without a target plan by default, and they will be automatically associated with the default one-off revenue account.
• Enable approval flow for one-off fees - enabling this option will 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. Once you've done so, 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 pick all billing plans for which this rule will apply.
    Leaving it 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.
    
    Note: Leaving this field empty means that no approval will be required for any one-off, a value must be set in this field in order for the option to work properly. 

We’ll generate invoices

• 1. 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:
     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 days after the billing date.

     Note: 'The Billing Date' refers to what you have chosen 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. Read more about how you can set this up.
  2. If you want the invoices issued on the exact date and do not use the options from point 1, 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 able 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 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 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 the month and "a month before" the billing date, this means that the invoices for the next month will be generated on the 1st of the current month.

• Require approval for prorated invoices - Check the box to keep prorated invoices as a draft that needs to be reviewed.
• Automated invoice sending—The last checkbox can enable automated invoice sending upon generating the invoice (please note that 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

To set up processing fees, please click here to redirect to our help article.

We'll generate late fees

To set up late 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 to the system.

We’ll charge invoices

Select automatically to charge companies or members' invoices through your payment gateway that you have integrated with OfficeRnD. If this option is enabled, 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 every day at 3:00 AM, 9:00 AM, 3:00 PM, and 9:00 PM.

If the payment fails (e.g., 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 (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.

Generate invoice numbers in OfficeRnD

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 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.