When configuring a Contract Group or individual contract settings, you will be presented with a few billing options to choose from.
Below we will explain each of these options:
Rate: This is the price the customer will pay per transaction
Tax: The tax rate associated with the service provided
Pricing Structure: How the Rate will be applied to the contract
Be advised that when a monthly pricing structure is set, any month that is included in part will be pro-rated. Example: If your arrival date is May 28th and Departure is June 27th, the system is designed to pro-rate these months in part. Meaning 4 of 31 nights in January are being charged monthly rate / 31 = nightly prorate. Then 26 of 30 nights in February are being charged monthly rate / 30 = nightly pro-rate. You can take each month's nightly pro-rate, multiply it by the number of nights for that month, and then add the two monthly sums together to calculate out the total.
Per Month: The customer will be billed at a flat rate per month, i.e. $20/month
Per Foot per Month: The customer will be billed at a per foot per month rate, i.e. $2/ft/month
Per Season: The customer will be billed at a flat rate per season, i.e. $200/season
Per Foot per Season: The customer will be billed at a per foot per season rate, i.e. $200/ft/season
Square Foot per Month: The customer will be billed at a per square foot per month rate, i.e. $2/sq.ft/month
Square Foot per Season: The customer will be billed at a per square foot per season rate, i.e. $200/sq.ft/season
Billing Cycle: The timing at which the bill(s) will be processed
Upfront: This is a onetime payment for the entire contract amount. The default billing period is to collect in full upon agreement of contact by customer. See Custom Billing below to change this.
Half and Half: This sets up the contract to be paid in two installments. The default billing period is to collect 1/2 upon agreement of contract by customer and the second 1/2 upon arrival (start) of the contract. See Custom Billing below to change this.
First of Month: This sets up the contact to bill on the first of every month. The default billing period is to begin collecting payment at the start of the rental period and then bill an equal amount each month on the first of the month for the remainder of the rental period. Partial months will be prorated and billed accordingly.
Custom Billing Period: This tool allows you to specify the dates in which the bills will be collected
Upfront: Set the exact day when the full payment will be collected
Half and Half: Set the exact day the first 1/2 and the second 1/2 will be collected
First of Month: There is no option to set custom billing dates on first on a reservation with first of month billing cycle enabled. All will follow the default billing cycle.