Subscription
To access the Subscription list, go to:
Home > Accounting > Subscription Management > Subscription
1. Prerequisites
Before creating and using a Subscription, it is advisable to create the following first:
2. How to set a Subscription
- Go to the Subscription list and click on New.
- Select Party Type as ‘Customer’ or ‘Supplier’ and select the party.
- Set the Start Date from when the subscription will be active.
- Optionally you can also enter the subscription end date if you know it before hand.
- Days Until Due is the number of days within which Customer has to pay a generated Sales Invoice.
- Select the Subscription Plans.
- Save.
Based on the subscription start and end date, actual dates for invoices will be calculated.
3. Features
3.1 Trial Period
If you’re offering a trial period for the subscription, a Trial Period Start Date and a Trial Period End Date can be set. Invoices will not be generated during the trial period and the Subscription status will show ‘Trialing’.
3.2 Cancel Auto Renewal
By enabling the ‘Cancel At End Of Period’ option, the Subscription will be automatically terminated at the end of its designated period. For instance, if it’s a yearly subscription, the system will cease generating invoices once a year of subscription has elapsed.
3.3 Taxes
You can apply Taxes to a Subscription by using a Sales Taxes and Charges Template. Visit the Sales Taxes and Charges Template page to know more.
3.4 Applying discounts
You can apply additional discounts on the Subscription based on Grand Total (pre tax) or Net Total (post tax). A discount percentage can also be set. For example, a discount of 2% on 12,000 would be 240 in discount.
3.5 Automatically create invoices
Based on the Subscription Plans interval, invoices will be created automatically.
Enabling ‘Generate Invoice At Beginning Of Period’ initiates the generation of invoices immediately upon subscription activation. If ‘Generate New Invoices Past Due Date’ is activated, invoices will continue to generate even if the current invoice remains unpaid or exceeds its due date. By enabling ‘Generate Invoice Early,’ invoices will be generated before the end of the period by the specified number of days indicated in ‘Generate Invoice Days Early.’
By default, the generated invoices are automatically submitted. However, disabling ‘Submit Invoice Automatically’ will save the invoice as a draft instead.
3.6 Follow Calendar Months
If ‘Follow Calendar Months’ is enabled, the system adheres to complete calendar months regardless of the Subscription Start Date’s position within a month. For example, if the billing interval is ‘Month’ with a count of 3 in the subscription plan, and the Subscription Start Date is ’15-04-2020,’ with ‘Follow Calendar Months’ checked, the first invoice will cover the period from ’15-04-2020′ to ’30-06-2020,’ rather than ’15-04-2020′ to ’14-07-2020.
3.8 Canceling a Subscription
If the Customer decides to cancel a Subscription, it can be canceled in the system using the Cancel Subscription. The system will stop generating invoices when a Subscription is canceled.
3.9 Updating a Subscription
Clicking on the Fetch Subscription Updates button will update the Subscription with the latest generated invoices.
4. Difference Between Subscription and Auto-Repeat
| Auto Repeat | Subscription |
|---|---|
| Is applicable on transactions | Is applicable on Items |
| Multiple transactions like Sales Order, Purchase Order, Invoices, Journal Entry, etc. are auto created | Only Sales Invoices and Purchase Invoices are auto-created |
| Has only a few controls | Has many control options to define trials, billing due date, and creating Subscription Plans |