Quantify provides three billing methods: Arrears; First Advance, then Arrears; and Advance. You select which one to apply to individual Job Sites or Groups, using the Billing tab in the Job Site dialog. (Refer to Configuring the Job Site Billing Tab.) Different Job Sites/Groups can use different billing methods.
The Arrears billing method only bills for the period of time that billable products were at a Job Site. Invoices are generated at the end of the billing cycle. Quantify prorates shipments with a rent start date that occurs during the middle of a cycle to match the cycle. When the last billable product has been returned, a final invoice for the balance for the remaining days on rent can be generated immediately.
This method can be used to generate invoices after a configured number of days (for example, every three days), or monthly, on a specified day of the month. Two common cycles for this method are last day of month and every 28 days.
First Advance, then Arrears
First Advance, Then Arrears (FATA) is the most common billing method. FATA is a combination of both the Advance (below) and the Arrears (above) billing methods. The first invoice can be generated in advance for the minimum days rent, starting on the rent start date. Then subsequent invoices are generated in arrears at the end of each billing cycle. Credits are not issued if products are returned within the minimum days period.
This method can be used to generate invoices after a configured number of days (for example, every three days), or monthly, on a specified day of the month.
With the Advance billing method, the initial invoice(s) is based on either the Shipment rent start date or the defined cycle start date. Quantify will generate subsequent invoices based on the first day of each billing cycle (variable based upon previous billing) or based upon the common cycle. This method has the option to issue credits for products that were already invoiced but returned before the cycle end date. Credits are not issued if products are returned within the minimum days period.
To see the sample timeline for each billing method, refer to About Rental Billing Timelines.