The Food Corridor has recently released exciting updates to make billing easier for you and your clients. Here's the skinny on what's different.
What's covered below:
- Monthly Charges vs. One-Time Charges
- Reviewing and Updating Monthly Bills
- Updating Charges
- One-Off Adjustments
- Make Changes Right Up Until the Billing Date
- New One-Time Fees
- Recording a Manual Payment, including partial payments
- New Failed Payments and Charge Attempts
- Old Invoices
- New Hourly Bookings
Monthly Charges vs. One-Time Charges
One-time fees are no longer listed on monthly invoices. Why, you ask? Before, one-time charges from March were listed in the "Statement" section of the April monthly invoice. Part of the invoice would be paid (the March charges), and the other part (April monthly charges) would be due in April. Not only did this create confusion (e.g. why is the total amount different than the due amount? why are last month's charges associated with this month's billing period?), but it also didn't lend itself to intuitive accounting practices.
Now, one-time charges such as one-time fees, cancellation fees, and hourly booking charges, are listed under the Client Statement (found from the Clients tab > Client name > Statement). The Client's Statement is comprised of all the daily charges in given a month, as well as the monthly charges that were paid in that month. Now, if you're looking for any charge that was paid in April, you'll go to the Client's April Statement.
This simulates the way a credit card statement or bank statement works.
The monthly bill (or monthly invoice), will be its own line item in the larger Statement once it's paid.
Reviewing and Updating Monthly Bills
On the 1st of the month, you will be notified when it's time to review clients' monthly bills. You can review these monthly bills from the Billing tab or directly from the Client's Statement.
From the Billing tab, you'll see the total amount due for the monthly bill. To review and make changes, click on the client's name, which will take you to their Statement with the monthly charges listed. (Monthly charges include the monthly billing plan, overage hours, storage, recurring fees/credits, and booked equipment from the previous month if the client is on a monthly plan.) You can change, add, or remove monthly charges right there from the client's account. If you update their Storage, change their Billing Plan, or add or remove a Recurring Fee, for example, you'll see the change reflected right away in the Client Statement. This means you no longer need to re-run invoices! Your changes will reflect right away in the Statement and update the monthly amount due.
You will no longer see an "Adjust" button. Instead, simply add a one-time fee or credit to the client, and choose to apply it to the client's monthly bill.
This way, you won't have some adjustments listed as fees and credits in the client account, and other adjustments listed only on the invoice. They will all be together for easy tracking.
Make Changes Right Up Until the Billing Date
Your clients will be notified of their monthly bills, for their review, on the 3rd of the month.
You have until your monthly billing date (the 5th or 15th) to make any updates to a client's account - for example, changing their storage rentals, removing a recurring fee, adding custom one-time fees or credits, etc. Any updates you make to a client's account will be reflected in real time for your clients, so there's no need to "resend" them the monthly bill. They will be able to see their most up-to-date monthly bill in their Billing tab > Statement. This should make this process WAY easier and more intuitive for both you and your clients!
New One-time Fees
One-time fees are charged at midnight after you add the fee to a client. Before, the system didn't charge one-time fees during the 1st - 3rd of the month. Now, one-time fees are charged at midnight on any day of the month.
If you don't want the fee charged at midnight, choose to apply it to the client's monthly bill or schedule it for a later date.
Before, one-time charges less than $30 didn't process until the total amount due added up to more than $30. Sometimes this meant a charge would sit there for a long time before processing. Now, you can rest assured knowing that all one-time charges, no matter how small, will charge the client at midnight that night. Note that if the charge is less than $30, and the Client is paying by credit card, a $0.30 fee is added to cover the extra expense.
Recording a Manual Payment, Including Partial Payments
If you receive a manual payment (i.e. a payment made outside The Food Corridor such as cash or check), you can mark charges as paid from the Client's Statement. Click "Record Payment" on the Payment Due section > enter the amount paid to you. If you receive a partial payment, enter that partial amount! The system will apply that partial payment and update the remaining amount due.
Note: you must first set the client to "manual payment processing" in their client settings. You can keep them on this setting if they always pay you manually, or, just set it temporarily, so you can record a one-time manual payment, and then change them back to auto payment.
New Failed Payments and Charge Attempts
The system now automatically re-attempts charges for failed payments up to 3 times, once per week. If after these 3 attempts are made, and the charge is still failed (or if you simply want to re-charge it sooner), you can charge the failed payment on the spot! This means you have more power to decide if and when you charge a client's past-due bill. Go to your Client's Statement > click the dropdown next to the failed charge > click "Charge Now."
You still have access to all your old invoices, from April 2019 and before. Simply scroll down on your Billing tab! If there are lingering past-due invoices from April 2019 and before, follow the "old process" to mark the invoice as paid and/or re-charge the past-due amount, both of which can be done directly from the invoice.
New Hourly Bookings
Hourly bookings are charged at midnight after the booking takes place. This gives you and your client time to make any same-day updates if needed, before the booking is charged. If you add a booking to a client in the past, it will charge them for the booking on the spot.