Subscription
If you offer a service that requires renewal in a certain time period or you pay some monthly expenses like rent (yearly, monthly, quarterly, etc.), you can use the Subscription feature in ABNERP to track them. The Subscription master captures all the details required for the auto-creation of Sales or Purchase Invoices.
Let's consider a use-case of ABNERP subscription itself. Our hosting plans are available on a yearly basis. Each Customer's account has a subscription expiry date, after which customers must renew their subscription with us.
To manage the client's subscription expiry and auto-generation of Sales Invoice for the renewal, we use the Subscription feature.
To access the Subscription list, go to:
\u003e Home \u003e Accounting \u003e Subscription Management \u003e Subscription \u003e \u003e
- Prerequisites
Before creating and using a Subscription, it is advisable to create the following first:
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How to set a Subscription
- Go to the Subscription list and click on New.
- Select Party Type as 'Customer' or 'Supplier' and select the party.
- Set the Start Date from when the subscription will be active.
- Optionally you can also enter the subscription end date if you know it before hand.
- Days Until Due is the number of days within which Customer has to pay a generated Sales Invoice.
- Select the Subscription Plans.
Based on the subscription start and end date, actual dates for invoices will be calculated.
- Features
3.1 Trial Period
3.2 Cancel Auto Renewal
On enabling the 'Cancel At End Of Period' the Subscription will be canceled at the end of its period. For example, if it is a yearly subscription, the system will stop generating invoices after one year of subscription.
3.3 Taxes
You can apply Taxes to a Subscription by using a Sales Taxes and Charges Template. Visit the Sales Taxes and Charges Template page to know more.
3.4 Applying discounts
3.5 Automatically create invoices
Based on the Subscription Plans interval, invoices will be created automatically. \