The Billing Module generates fee notes, records payments, creates credit note and tracks debtor positions.
Each entity may have one or multiple billing profiles which define the frequency of invoicing, the billing currency and the different charges to be included on the invoice.
These billing profiles can be a mixture of Fixed fees, Asset based or Ad valorem fees (which can be varied by asset class), Recurring fees, Time based fees and Disbursements. Registration and renewal fees can also be processed including the application of penalty fees where appropriate and the production of reminder letters, providing an efficient mechanism for dealing with large volumes of these types of fees. Where applicable, VAT can be calculated and applied using jurisdiction-specific VAT rates.
Microgen 5Series provides a comprehensive range of facilities to support the billing and debtor control process including:
- Draft invoices can be produced and reviewed. Authorised personnel can mark up/down, postpone, and charge fees in advance of their due date. In the case of time charges such adjustments can be applied to individual time entries or to the time fee as a whole. In the case of the latter the individual time entries are adjusted automatically.
- Managers and supervisors can review and authorise invoices before they are generated and sent to the client. Invoices can be generated as printed documents, or as an Adobe PDF attachment which can be automatically emailed. Invoices can also be delivered via the Client Web Portal module.
- Payments can be recorded and allocated against multiple invoices/invoice lines. Credit notes can also be applied to invoices/invoice lines or can be a “free” credit note which is independent of any invoices, e.g. a gesture of goodwill.
- Management information to track debtors and monitor client profitability.
- Transactional activity automatically generates and posts the associated general ledger accounting transactions for both the client and the master company books. Fees charged in advance can be automatically apportioned across the period to which they relate.