Consolidated Billing
With CL Loan, you can generate an invoice of consolidated bills of all the contracts belonging to a borrower. You can also define rules for grouping the bills into separate invoices based on certain contract parameters.
Generate Consolidated Bills
Prerequisites
To enable the generation of consolidated bills, the following prerequisite must be met:
- Generate Invoice check box on the account or the contact is selected.
Steps
- After the prerequisite is met, run the Bill Consolidation job on the account or the contact.
The invoice is generated with the details described in the following table:
| Field | Description | Location |
|---|---|---|
| Contact or Account | The contact or the account name with which the generated invoice is associated. | Invoice |
| Original Amount | The original total amount of all the bills included in the invoice. | Invoice |
| Due Date | This is the oldest of the due dates of all the bills included in the invoice. | Invoice |
| Balance Amount | The total remaining amount of all the bills included in the invoice. | Invoice |
| Status of the Invoice | When an Invoice gets generated, it is in active status. The status changes to cancelled if an included bill of the invoice becomes non primary. | Invoice |
| Invoice | The link to the invoice in which the bill are included. | Bill |
| Invoiced | The selected check box indicates that the bill has been included in an invoice. | Bill |
Example of Consolidated Billing
In the following example:
- The account Burlington Textiles Corp of America, has 3 contracts.
- The consolidated invoicing is enabled for 2/3 contracts.
So, a consolidated invoice is generated for all the bills of the 2 contracts-LAI-00004520 and LAI-0004521, as shown in the following image:
And a separate invoice is generated for the bills of the contract- LAI-0004519, as shown in the following image:
Rule-Based Consolidated Billing
You can generate separate invoices belonging to a borrower, based on certain contract parameters, by defining rules for grouping the bills into separate invoices.
- Log in to your Salesforce account.
- On the Servicing Configuration tab, in the ProductManagement section, click Invoice Rules.
- Define the rules to generate the invoices.
Example of Rule-Based Consolidated Billing
As shown in the following image, a rule is created to consolidate all the bills of the contracts in the Active-Bad Standing status.
As shown in the following image, the account has 2 contracts in Active-Bad Standing and 1 contract in Active-Good Standing.
As shown in the following image, when this rule is run, a separate invoice is created of the bills that are delinquent. In this example, only 1 bill is delinquent per contract.
As shown in the following image, a separate invoice is created for the non-delinquent bills. In this example, only 1 bill is non-delinquent per contract.
