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            Set Up Billing

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            Set Up Billing

            Enable Billing, assign the required permission sets, and set up features for using billing for insurance policies.

            Required Editions

            Available in: Lightning Experience
            Available in: Professional, Enterprise, and Unlimited Editions where Insurance Brokerage is enabled

            Turn on Billing to start using billing features.

            • Billing Settings
              Control how invoices, payments, credits, documents, and accounting records are processed after billing is enabled. These settings determine how billing transactions are generated, delivered, settled, and recorded in downstream financial systems.
            • 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.
            • Payment Term
              A Payment Term defines the period of time a customer has to pay an invoice. It determines the invoice due date and is calculated based on the configuration of the Payment Term and its related Payment Term Items. Payment Terms help standardize how due dates are calculated across invoices and billing scenarios.
            • Product Selling Model
              Product selling models define how products are sold and billed. This is a Revenue Cloud concept that works in conjunction with Product Catalog Management to determine how products are structured, priced, and invoiced.
            • Proration Policy
              A proration policy defines the rules used to calculate charges for partial billing periods and to handle rounding differences when amounts are distributed across multiple billing periods.
            • Configure Context Mappings for Insurance Policies
              Configure and customize the context mappings that are used to create billing schedules.
            • Considerations for Policy and Underlying Structure
              Insurance policies can represent highly complex real-world risk structures involving multiple insured entities, assets, and coverages. Agency Billing is designed to work with this inherent complexity by leveraging the flexibility of the FSC Insurance data model. Understanding how policy structures are modeled and how billing interacts with those structures is essential to ensure accurate and predictable billing outcomes.
             
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