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Guided Setup for Billing
Admins can use the Billing Guided Setup for a step-by-step guidance to complete key tasks that are required to set up Billing.
Required Editions
| Available in: Lightning Experience |
| Available in: Professional, Enterprise, and Unlimited Editions where Insurance Brokerage is enabled |
- Billing Prerequisites
Set up billing users, assign relevant permission sets, and define billing rules for your products. This step makes sure that authorized personnel manage the billing operations according to clearly defined rules, which boosts both security and accuracy. - Tax Configuration
In Agency Billing, taxes are modeled using Insurance Policy Surcharge records and are applied during billing. The billing system distributes these tax amounts across invoices based on the selected billing model, such as one-time, term-based, or milestone (hybrid) billing, while considering proration and rounding rules. - Invoice Configuration
Schedule and manage invoice runs to streamline the invoicing process. - Accounting Configuration
Create accounting periods and assign legal entities to accounting periods. Accounting Periods define the time frames used for financial reporting and accounting activities, such as months, quarters, and fiscal years. These periods determine how and when invoices, and payments are entered into the transaction journal. - Currency Configuration
View transaction amounts not only in the transactional currency but also in your corporate currency. Enable multiple currencies and Advanced Currency Management. Then, turn on the Billing feature to convert and store transaction amounts in your corporate currency. - Billing Advanced Features
Billing Advanced Features extend standard billing capabilities to support complex and specialized billing scenarios in insurance operations. - Payment Configuration
Set up payment processing for your billing transactions. Configure native payment gateways, payment schedule policies, payment schedules, and related payment records. Then, schedule payment batch runs to process payments and apply them to invoices or invoice lines.
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