Budget Invoices - Invoicing Frequency and Options
This article is part of the Budget Invoices section within Client Invoicing.
Before You Start
Before billing your budget invoices, make sure you’ve completed the setup steps covered in the following articles:
These articles cover essential setup like selecting the right accounting basis, charge date code, budget headings and relevant system options.
Budget Billing Frequency and Timing
How you bill clients depends on the Charge Date Code set for your development and how often you want to send invoices during the budget period. You may need to process owner charges more than once.
Here are your options:
Annual Billing
- Invoice once at the start of the budget year for the full amount.
Monthly Billing
- Invoice at the start of each month so clients can pay monthly.
- This also lets you chase arrears monthly via the Client Notices reminders system.
- Alternatively, you can process all monthly invoices at the start of the year.
Quarterly Billing
- Invoice at the start of each quarter (4 times per year).
- Each quarter, clients receive an invoice for that quarter’s portion.
- Alternatively, run all 4 quarterly invoices at the start of the budget period.
- Each billing frequency depends on how you want to manage payments and reminders during the year.
Pro-Rating Budget Charges for Partial Occupancy
If a client moves in part-way through a budget period, you can bill them only for the time they’re actually liable. This is handled automatically if the Budget Pro Rate system option is enabled (see this article for more details).
Example:
A company’s budget period runs from 1st September to 31st August. A new development goes live on 1st October. The company can still set up a full year’s budget (1st Sept – 31st Aug), and the system will calculate charges accurately based on the client's move-in date.
How this works:
- With an annual charge date code:
- The system will pro-rate the charge based on the client’s occupancy.
- CPL calculates a daily rate and bills only for the days the client is liable.
- In this example, instead of being charged for 365 days, the client would be billed for 335 days.
- With a quarterly charge date code:
- The system will bill for just the portion of the quarter the client occupies.
- For the first quarter, the client would only be billed for 61 days (not the full 91 days).
- The remaining quarters would be billed in full.
This ensures clients are only charged for the correct period they were in the property.
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