The “Bill Term” feature is used when an invoice has not yet been issued for the term.
Watch the Step-by-Step Video
For a visual guide, watch this video:
How to set up billing for renewals and terms by using the convenient bill this term feature:
From the TrueRev dashboard, go to the Contracts tab.
Select the contract for which you want to bill a term and open it.
Once the contract is open, go to the Bookings tab and select the term you want to bill.
To bill the term and generate an invoice in TR, click the “Bill term” button.
Choose the billing frequency: Monthly, Quarterly, Annually or Once. For this demo, we will choose the “Monthly” as billing frequency.
Update the invoice and send date. By default, the invoice and send dates are set to the term's start date.
Add Service date(s) to invoice line descriptions by clicking “Invoice” to automatically add the invoice dates as the service dates on the invoices.
Click the “Generate Invoices” button.
The list of invoices to be billed will appear. You can check if the invoice descriptions per invoice is the same as the invoice term by clicking “Invoice”.
Click “Create Invoices”.
The generated invoice will be available in the Billings tab and is set to auto-send on the specified "send date." The status of the invoice will be marked as “Auto-send”.