Overview

Payment Term Override allows you to customize the payment terms for all invoices generated within a specific Billing Run. This feature provides greater flexibility in managing your billing process and customer payment schedules without changing the default payment terms at the customer or subscription level.

What are Payment Terms?

Payment terms define when an invoice is due for payment (example, Net 30 means payment is due 30 days after the invoice date). Normally, payment terms are inherited from customer or subscription settings, but there may be times you need to temporarily adjust these terms for a specific billing cycle.

Use Payment Term Override

For Manual Billing Runs

Steps: 

1. Navigate to the Menu > Operations > Billing Runs.
2. Click the Add button on the Billing Run list page.

3. Fill in the required fields (Target Date, Invoice Date, etc.)
4. You can select the Payment Term from the payment term dropdown:
   • This is set to Default which uses the payment terms configured at the customer or subscription level.
   • You can select other Payment Term which are defined on the company level. These can be configured by navigating to Settings > Billing > Payment Terms.

5. Complete the remaining billing run settings and click Run.

For Scheduled Billing Runs

1. Navigate to Settings > Schedules.
2. Click Add under Billing Run Schedules or edit an existing schedule.
   
3. Configure the schedule parameters.
4. Select the Payment Term from the payment term drop-down menu.
   
5. Save when finished. 

How Payment Term Override Works

When you override the payment term for a Billing Run:

1. All invoices generated in that billing run will use the specified payment term.
2. The due dates for these invoices are calculated based on the overridden payment term.
3. The original payment terms configured at the customer or subscription level remain unchanged for future billing runs.

Viewing Payment Terms in Billing Runs

After creating a Billing Run with an overridden payment term, you can view this information in several ways:

1. On the Billing Run Details page:
   
2. In billing reports where payment term information is displayed.
3. Via the API by checking the payment_term field in the billing run object.

API Support for Payment Term Override

When using Ordway’s API to create Billing Runs, you can include the payment term in your requests:

POST /api/billing_runs

{

  "target_date": "2024-08-03",

  "invoice_date": "2024-07-04",

  "payment_term": "Net 15",  // Specify the payment term here

  "charge_type": "one_time,recurring,usage_based"

}

• When the payment_term field is not included or an empty value is sent, the system uses the default payment terms.
• When an invalid payment term is included, the API returns a "payment_term not found" error.

Filtering and Reporting

Filter Billing Runs by payment term in:

• The Billing Runs list view
• Custom reports that include Billing Run data

Related Resources

• Payment Terms
• Billing Runs
• Schedule a Billing Run

For additional assistance with the Payment Term Override feature, contact our Support team.