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 checkbox 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 checkbox 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.  

1. Log in to your Salesforce account.

2. On the Servicing Configuration tab, in the Product Management section, click Invoice Rules.

3. 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.