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/Advanced Settings/Billing Rules in the admin portal.
- 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 which should be used as a standard to 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 you can 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 start date will be used as the start date of their billing period. This means that the start and end dates of the billing period can be individual for each customer. 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 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
- an admin would like to enable generating an invoice with a 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.
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 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.
- Billing Details Update - If the billing details of the member company has changed and you would like to update them for issued invoiced, there are two options under this billing details update setting: not to update the billing details of issued invoices, or the opposite. By default, the setting would be 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 the company employee decides to purchase anything through the members portal, by default the company will be charged for it.
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.
By default you can create fees without a target plan, automatically associating them 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 of access.
There are 2 fields that you can adjust:
Valid For - this 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 limit of discounts 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.
- Valid For - this is a multi-select field, where you can pick all billing plans for which this rule will apply.
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.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.
- If you want the invoices to be issued on the exact date and 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 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.
- 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 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 invoices of companies or members 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/member has payment details entered in the system.
If a company/member enters their payment details after the first automatic charge was generated, OfficeRnD will attempt to charge them again every day at 3:00 AM, 9:00 AM, 3:00 PM, 9:00 PM.
If the payment fails (due to e.g. 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.
Note: When you connect OfficeRnD to a QuickBooks instance that is invoicing other products or services outside of what OfficeRnD invoices, we recommend that you use the QuickBooks numbering to avoid the two systems duplicating invoice numbers.
In that case, navigate to Settings/Billing Settings/Billing Rules and deselect the Generate invoice numbers in OfficeRnD option. In this case, you need to have Custom transaction numbers disabled in Quickbooks.
If you let OfficeRnD generate the invoice numbers, make sure to enable the Custom transaction numbers in QuickBooks. To find that setting, open QuickBooks in a new tab, click on 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
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.
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 automatic assigning of numbers by the system and allow an accounting integration to create and sync the numbers.
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.