We introduced in 2022 our new (V2) billing. This new billing incorporates invoicing (instead of transactions) and payment plans, which allows for a lot of flexibility and customization! Here is a list of what has changed:
Invoices vs. Transactions
Post a Charge/Create an Invoice - In V2 billing, instead of posting a charge in the customer's Transaction History, you will now create an Invoice.
Transaction History - Most of the billing in V1 is focused on the Transaction History. In V2 billing, the focus is on Invoices and the Invoices page. The Invoices page shows all current, past due, and future Invoices.
While the Transaction History will still be viewable, you will no longer be able to add any payments or charges directly to it. However, all charges and payments made will show a true history of transactions that can be printed.
Invoicing vs. Auto-Billing
Auto-Billing - Auto-Billing is now Invoicing in V2 billing. The company auto-billing settings are gone. Invoicing is set up under each Payment Plan. It is the same as the Invoice Notifications. Invoicing has encapsulated Auto-Billing AND Auto-Billing Notifications.
Invoicing & Notifications
Auto-Billing & Auto-Pay Notifications - Auto-Billing and Auto-Pay Notifications are no longer in the My Company settings. These are now Invoice Notifications, which can be viewed and edited within each Payment Plan. An Invoice or friendly "auto-pay reminder" can be sent out 1–7 days before the payment event by email and/or SMS or both. The Primary Account Holder and Secondary Account Holder can be sent this invoice or just the Primary Account Holder.
Payment Plans vs. Tuition Start & End Dates
Tuition Start & End Dates - Tuition Start & End Dates (dates when you want the tuition to start and stop) are no more in V2! They have been replaced by Payment Plans, which are MUCH easier to understand. Payments start when you set them to start. You can create one of the following:
Installment Payment Plan
Scheduled Payment Plan
Subscription Payment Plan
Payment Events & Auto-Pay
Auto-Pay Settings - The only Auto-Pay Settings on the My Company page are the company settings, either allowing or hiding Auto-Pay (or allowing enrollees to opt in or opt out of Auto-Pay).
Auto-Processing Report - You can view who is on Auto-Pay on the Invoices page. An "Auto-Pay" column shows the payment method the customer uses (i.e, "ACH" or "Credit Card") if they are ON Auto-Pay. If Auto-Pay is off on that account, it will say "Off."
Auto-Pay Frequency - What used to be the "Frequency" under Auto-Pay Settings is now a part of Payment Plans, called "Payment Events." Within each Payment Plan is the payment frequency or event depending on if it's an Installment, Scheduled, or Subscription Payment Plan.
Custom Auto-Pay Schedule - The individual custom Auto-Pay schedule has been replaced by individual Payment Plans. These are added either at enrollment or by an Admin user. They can be edited, deleted, or added at any time.
Charge Items vs. Tuition
Discounts - You can still add Discounts under Payment Plans, but in the new billing, Discounts can only be in dollar amounts (not percentages - coming soon).
Coupon Codes - Coupon codes in the new billing are ONLY percentages (no dollar amounts - coming soon).
Proration - The new billing system does proration calculations based on the Program or Class start & end dates. You can also enable the Customer to select their start date of attendance, and proration will change depending on the date they select.
Recurring Fees - This is no longer a thing in the new billing.
Payments & Charges
Post a Charge - In V2 billing, instead of posting a charge in the customer's Transaction History, you will now create an Invoice.
Post a Payment - Entering a payment for a customer is the same in V2 as in V1. Use the Transactions button on the left menu to enter a payment. See How to Post a Payment for more information.