Billing Schedules
Billing schedules allow you to easily structure contracts with non-regular billing intervals. This is useful when you need to set up non-regular payments over an extended period for a customer, ensuring they’re billed according to specific timelines.
Billing schedules differ from typical recurring billing as they allow you to set up non-standard intervals for payments. For example, a customer may commit to a multi-year contract, paying various amounts at specific intervals rather than a consistent monthly rate.
Example Use Case: Let’s say you provide a service where the customer:
- Pays $1,000 upfront
- Pays $500 at month six
- Pays $800 at months nine, twelve, and fifteen
- Pays $1,000 at months eighteen and twenty-four.
Creating a Custom Billing Schedule
- Navigate to Products > Overview from the left menu
- Select the product you want to create the custom billing schedule under
- Click on ”+ Add New Product Pricing”
- On the pricing creation page, enter the name and description
- In the Select “Custom Pricing”
- Select the Currency, Frequency, and Number of Periods
Frequency is the most granular time period for your billing schedule and Number of Periods allows you to configure the total number of periods based on the length of the contract
- Enter the billing amount for each period (enter 0 for the periods when the customer won’t be billed)
- When ready, click “Create”
Using a Custom Billing Schedule
Once set up, this Billing Schedule can be used when creating a contract or subscription
- Create a new contract or a subscription
- In the “Pricing Details” section, select the Billing Schedule
- Proceed with creating the contract or subscription