Invoice process

A robust invoicing function is key for membership organisations since the membership fees often an important source of income. A major focus area is the ability to manage high volume transactions in combination with high performance and speed. In addition to handling membership fees the engine needs to manage all areas where invoicing is included. If your organisation are selling products or other services the invoice engine will manage those as well.

For membership invoicing the engine provides the possibility to filter by the different layers, such as area/product but also on individual level. This provides great control for the finance team in their work, especially when volumes are large. With pre-built settings the engine will only capture memberships that are should be included in the next invoice run based on member invoice frequency settings. This reduces leadtime and makes the invoicing routine more robust.

All memberships that will be included in a specific run can be viewed before the invoicing is started. This provides opportunity to correct any misstakes before the invoices are created.

Netsuite includes a well structured Item management that covers all needs of any organisation. Creating items of different types makes it possible to manage different areas of an organisation.

Our membership fees are managed by service items with specific pricing that are linked to the different membership areas/products. This makes it possible to have different pricing for memberships by area/product but also makes it easy to change prices when needed.

The membership areas/products include the possibility to add multiple items to manage pricing based on the membership type.

When invoicing of membership areas/products are started, the invoice engine gathers information based on the membership area/product and type.

Netsuite provides the possibility to include multiple tiers for important processes. Depending on the volume of transactions managed every year organisations can include more tiers. This opens the opportunity to run invoicing in different queues that run simultaneously.

Our invoice engine is designed to run from one tier up to the desired number of tiers out of the box.

For member organisations the member fee might be the only transaction that is the base of the relationship with the member. For this reason it is of high importance that the invoicing is done in correct period that aligns with the members requested frequency.

Maintaining a solid invoice routine that meet expectations at all times will contribute to a proffesional relationship and maximize member satisfaction.

Our invoice engine manages all memberships based on the membership startdate in combination with the members requested frequency. With our pre-built logic only memberships that match the invoicing period will appear in the invoice run. Memberships put on hold, will of course be excluded until the hold funtion is released.

All memberships are connected to a specific member. In most cases the member is also the payment responsible for the membership and should receive the invoice. Depending on the membership options organisations might need to offer the alternative that memberships can be managed by another entity.

Our solution provides a parent - child relationship on the membership so that it is possible to both visualize membership groups and also direct the invoice to the parent, which will be categorized as the payment responsible.

The invoice engine keeps track of memberships and groups all with the same payment responsible to one single invoice.

Netsuite include great tools for creating your personal transaction layouts to better represent the organisation when sending transactions to entities. With advanced pdf templates as a base, our solution includes a well-structured invoice layout that includes all details that best describe the membership, pricing and group members if any.

The layout is easily adjustable to fit any organisation with specific requirements.

Members are given the choice of invoice method when applying for memberships. This information is gathered from the application form and is stored as a preferred invoice method on future memberships. The choices available and most common are Print or Email.

Our solution provides management of both Print and Email through different functions.

Memberships marked with Email will trigger an automatic email confirmation with the invoice attached as a PDF. this email is sent to the payment responsible, and this occurs upon invoice creation. The email confirmation is stored on the member record as well.

Memberships marked with Print will apear in Netsuites Print Document feature. The finance department can select invoices from a list of unprinted transactions and Print. Those invoices will then be delivered to the payment responsibles delivery adress.

When working with high volume of invoicing it is very important to keep track of all transactions and the transaction status. The finance team needs to know if invoices have passed due date in order to remind the members of missed payments. For member organisations this is crucial since unpaid member fees can lead to termination of memberships.

Our solution comes with pre-built searches that captures all open invoices in what is called Reminders. By the use of reminders users does not need to manually follow up invoices, instead searches with specific criterias will capture such transactions and present them on the user dashboard.

Our solution captures invoices that are close to, on or passed due date giving the finance team a good foundation to manage their reminder process.