Recurring billing scenario

Posted by everplay on December 22, 2006, 4:50 pm

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We provide a subscription based service for a few hundred customers.
Each subscription has a term of one year, at a cost of about $2000 per
year.

Each customer pays $500 of this up front, and then the remainder
($1500) is paid either monthly(the most common scenario), bimonthly,
quarterly, or biannually. These numbers may vary by customer.

We are seeking a solution that let's us enter the subscription rate and
down payment for each customer initially, and then calculates the
remaining monthly payments automatically. So for example if we entered
a subscription rate of $2000 and a down payment of $500, then the
software would automatically create monthly invoices of $1500/12=$125
for the remaining $1500.

If possible we would also like the software to notify us when the
subscription is in the last month and up for renewal.

Can anyone recommend a Quickbooks solution for our scenario?

Posted by HeyBub on December 23, 2006, 4:22 pm

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everplay@gmail.com wrote:

> We provide a subscription based service for a few hundred customers.

> Each subscription has a term of one year, at a cost of about $2000 per

> year.

> Each customer pays $500 of this up front, and then the remainder

> ($1500) is paid either monthly(the most common scenario), bimonthly,

> quarterly, or biannually. These numbers may vary by customer.

> We are seeking a solution that let's us enter the subscription rate

> and down payment for each customer initially, and then calculates the

> remaining monthly payments automatically. So for example if we entered

> a subscription rate of $2000 and a down payment of $500, then the

> software would automatically create monthly invoices of $1500/12=$125

> for the remaining $1500.

> If possible we would also like the software to notify us when the

> subscription is in the last month and up for renewal.

> Can anyone recommend a Quickbooks solution for our scenario?

Hmmm.

You could have a number of different charges. $100/mth, $125/mth, $200/mth,
$500/quarter, etc. Pick the one a particular customer requires. Memorize the
transaction with the appropriate number of repeats.

Store the anniversary date as part of the customer's record. Each month
generate a report for that anniversary date so you'll know who to re-bill.