Dunning – Invoiced
From time to time and usually for larger deals that may be regional, national or multi-location, credit can be extended and invoices for manual payment generated. Much like credit card subscriptions, Chargebee also has an automatic dunning process for manual payment subscriptions. However, for manual payments / invoices of this nature, it is expected that payment takes much longer and can on occasion stretch out for 2 months or more. As a result, if you have one of these deals, be prepared for a longer wait time before you are compensated since Local Owner payment occurs when we collect the invoiced amount.
A good example for when an invoice for manual payment is required would be for a shopping centre partner for which the monthly amount could be around $2,000. When the subscription or a new monthly invoice is created, the partner gets a copy of the invoice in an email with payment terms (due on receipt) and methods of payment (e-transfers or cheques). In an ideal world, the invoices would get entered into accounts payable immediately and a cheque or electronic payment would arrive at GetintheLoop finance within 2 weeks, however, that realistically almost never happens. Invoice reminders are sent out at 30 days, 45 days, 60 days and then again at 75 days. In almost all cases GetintheLoop finance receives payments within 60 days from the invoice creation date. For accounts older than 60 days, each month end GetintheLoop finance reviews the invoices and assesses next steps to be taken. Next steps could be a direct phone call by GetintheLoop finance, or depending on the subscription, a reach out to a Local Owner to see if they can help out.