TimelyBill Launches New Invoicing Feature
Supports Standard Bill As Well As Billing In Arrears Within The Same Organization
Oct 1, 2013
TimelyBill is proud to announce a new version of our invoicing component. The new invoicing engine will allow our customers to maintain traditional billing in advanced capabilities and the ability to bill other customers, within the same implementation in arrears. This is an ideal solution for enterprises and even telecommunications companies that may have some subset of their customer base which must be billed in arrears to maintain their entire customer base in a single TimelyBill instance.
Billing in arrears refers to a billing method in which customers get charged for services after receiving or consuming them. In other words, the customer pays for what they have used after the fact, rather than paying in advance.
In telecommunications, billing in arrears is typical for postpaid services, such as mobile phone plans. Customers are typically charged monthly for the services they used during the previous month. These services can include voice minutes, text messages, and data usage.
Billing in arrears allows customers to use services without having to pay for them upfront. Instead they pay for them on a regular schedule.