Term Subscription Example

The following example is a typical UI workflow that shows you: 1) how to create a simple Term Subscription in Advanced Billing and  2) what the generated Transaction and "future" Invoices look like after syncing with Maxio Platform.

First, you will create a Product and a Component with these parameters:

• An annual Product that is billed monthly and expires after 12 months;
• A recurring, quantity-based Component that is billed monthly.

1. From Advanced Billing > Catalog > Products, click Create New Product.
2. Enter the Product Details, then scroll down to Product Pricing.
3. Enter a Base Price and the Billing Interval of every 1 Month.
4. Expand Add Trial, Setup Fee, or Expiration Date and toggle Enable Expiration/Lifetime to on.

   
   

5. For Expire (stop billing) after this many Months, enter 12.
6. Click Create Product.
7. Go back to the Products page, click the Components tab (1) and then click Create Component (2).

   
   

8. For the purposes of this example, click Quantity Based (Recurring).
9. Enter the Component Name and the Unit Name.
10. Click Save.
11. Under Component Pricing > Pricing Scheme, select Per Unit.
12. Enter a Price and set the Billing and Invoicing Interval to every 1 Month.

    
    

13. Click Save Pricing Scheme.
14. Next, go to Billing > Subscriptions, and click Create New Subscription.
15. From the Create a Subscription page, under Step 1, create or select a Customer.

    
    

16. If you are creating a customer, make sure to select a Payment Method; else, continue.
17. Scroll down to the Step 2 - Plan Configuration section, click Select a Product.
18. Select the Product.

    
    

    Once you select the Product, add the Component.
    

19. Click Add Component and select the Component you created in steps 7-10.

Note the Term Setting at the bottom of the image above, which shows the range of the Subscription Term.

20. Select a First Billing Date, which in this case is Immediately.
21. Click Create Subscription.

Next, you will launch Maxio Platform and then sync with Advanced Billing.

The Term Subscription uses the Expiration Date to generate Transactions up front. So, the sync generates both the Transaction and the Invoices for the full term. These future Invoices are in Draft mode.

20. From Maxio Platform > Advanced Billing, click the Sync Now action.
21. Go to the Customers Home view.
    If you opted to create a new Customer in step 15, you should see that new Customer on this list.
22. Open the given Customer page and click the Transactions tab.

    
    

23. Open the Transaction.

    
    

The Order Date is the same as the Subscription Creation Date. And the Invoice number for all future Invoices are prepended with "DRAFT-".

24. Next, click the Revenue tab.
    You can see the “Scheduled Revenue” for the full term. And should you make changes to the future Invoices or the Subscription, the Revenue Schedule updates accordingly.