Billing in Arrears
Contracts are billed in arrears on the day following the end of each billing cycle. For example, if you have a contract on a monthly cycle that is billed in arrears and the first period is January 1 to January 31, the invoice is generated on February 1, the first day of the next monthly billing cycle.
Set a default value for bill in arrears in SSM Accounting Control. The system uses this setting for each new contract. You can change it.
The setting of Bill Arrears affects which revenue type can be used with a contract:
• When Bill Arrears is Yes, you can choose cash basis or accrued.
• When Bill Arrears is No, you can choose cash basis or deferred.