Rootstock’s Recurring Billing module allows for the establishment and processing of Sales Contracts from which Shipped Serialized Products (and product components) are associated with Recurring Services and then processed at user defined intervals generating detailed service billings. (See the Rootstock Warranty Module for more information on Shipped Serialized Products and Components – aka Shipped Item Warranty detail).
The Sales Contract references a Master Services Agreement (tailored to the specific customer as desired) and inherits a set of Terms and Conditions which can be adjusted at the Contract level. The Contract supports multiple customer entities (for Product Purchases, Product Pricing, Product Installations and Recurring Services Billings).
Purchase Product terms (quantities over time) and pricing are defined on the Contract, and Sales Order can be generated directly from the Contract - or added thru Order Entry and associated with the Contract yielding all the same benefit. As the Sales Orders are fulfilled, serialized products and product components are linked to the Contract.
In addition to the various product types that can be sold, the Rootstock Product Catalog also supports the creation of Recurring Service Products, giving them all the power and versatility of the Rootstock pricing engine, revenue account distribution details, etc. Service Products are then added to the Sales Contract where then can be associated with the Shipped Item Warranty for periodic billing. The association can be general or specific (all Shipped Item Warranty details associated with the contract, for a particular product or item, or individually by item-serial).
The Recurring Billing process frequency is defined at the Contract level and can be monthly, quarterly, semi-annual or annual. (The billing process can be run as frequently as desired with each contract only being processed when appropriate). Service Billing eligibility is defined at the Individual serialized item and items can be put on permanent or temporary hold (with start and stop dates).
Miscellaneous (one time) charges can be created and included in the recurring billing runs. They can be contact-general or item-specific, and can be scheduled to be picked up on a future date. Miscellaneous charges are also associated with Rootstock Products giving them the same pricing and account detail capabilities.
After each Billing run, the results can be viewed, edited (audited) and approved prior to being sent to the Rootstock Sales Invoice system.
