Betsy Barefoot, The Chronicle of Higher Education Installment Billing Betsy Barefoot, The Chronicle of Higher Education

What is Installment Billing A way to invoice customers according to a schedule Independent of revenue recognition

Installment Billing at The Chronicle Used primarily for larger deals that could encompass multiple products Recruitment Package that includes an Unlimited Job Pack and discounts on all print ads. The unlimited portion might paid in two installments Corporate Package that includes products such as print ads, e-blasts, banner ads, and a webinar. The entire amount could be invoiced in multiple installments Currently handled with Spreadsheets, Notes, and Manual Invoices

Installment Billing in Adbase Applied at order level Creates “Order” invoices and Installment “Order” invoices (IB Invoice) Not sent to Customer Used for revenue recognition Uses Suspense Account Not in Aging Reports – only in GL Customer invoices (Debit invoice) Sent to Customer GL for Revenue mapped to Suspense Account Creates invoices that are sent to the customer as scheduled Creates debit invoice that

Installment Billing Setups Finance Manager Create Suspense Account (Asset) Create GL Account for Installment Billing Map GL Account to Suspense Account System Admin Set Installment Billing Cause and Reason for Installment Billing Can use existing Cause and Reason or create specifically for IB Set permission for users who can use Installment Billing AdRater Map Suspense Account to Credit/Debit tree

Using Installment Billing Set up Installments in the order in Adbooker, which creates the Debits that will be invoiced to the Customer. Run IG to create the IB Invoice (revenue recognition) Run IG to create Customer Invoice (receivables) Run ISN Printer for the Customer invoice Send Customer invoice Run Report Tool for Aging Report

Installment Billing at a Glance Debit Invoice IB Invoice Goes to Customer No one Purpose Receivables Revenue Recognition AR Entry AR Account Suspense AR GL Entry Suspense GL Revenue Account View Invoice in Adbase AR yes no, query only View invoice in Cash Receipts Part of Standard GL Report no Part of Standard Aging Report

Installment Billing Example Customer is running 2 Print Ads (insertion dates April 24 and May 8), an e- blast on May 1, and a Webinar on May 15. Billing Rule is As Run. Print Ads are $15,000 each; the e-blast is $5,000, and the Webinar is $20,000. Total cost $55,000. Installment billing set up in Adbooker for April 30 and May 31 @ 27,500 Invoice Generator will be run to capture GL Revenue Totals for the insertion dates (GL to Revenue Account(s), AR to Suspense Account). Invoice Generator will be run to capture installment invoices on April 30 and May 31 (AR to Receivable Account, GL to Suspense Account)

Discussion Topics Which sites are doing some sort of Installment Billing today, whether inside or outside of Adbase? Which sites are using Adbase functionality to handle Installment Billing or planning to use it in the future? Which sites have looked at Adbase Installment Billing and decided not to use it? Why not?