The Invoices tab in the borrower category specifies whether invoices are sent and when. To set up the invoice parameters:
Select Inherit from default to inherit the settings from the default borrower category. Clear this option if you want to edit or delete the settings for the selected borrower category.
Select this option if you want to send invoices to the selected borrower category.
When the total of all “invoiceable” charges reaches this value then an invoice will be sent to the borrower. “Invoiceable” charges are those that have the Invoice borrower checkbox selected on the Charges tab.
Any charges that have reached the Individual charge amount will be included on the invoice. Here are three examples to help show how it works.
Example 1: Setting both an Individual charge amount and a Minimum total invoice amount
In the first example we’ll set a value for both the Individual charge amount and the Minimum total invoice amount. Let’s say the Individual charge amount is $5.00, Minimum total invoice amount is $15.00, and the borrower has three invoiceable charges:
Charge 1 $10.00.
Charge 2 $3.00.
Charge 3 $4.00.
In this case the total invoiceable charge is $17.00, i.e. greater than the Minimum total invoice amount, and so an invoice will be sent to the borrower. Only charge 1 ($10.00) will be included on the invoice since it’s the only charge greater than the Individual charge amount.
Example 2: Setting the Individual charge amount to $0.00
If you set the Individual charge amount to $0.00 then an invoice will be sent to the borrower when the total for all invoiceable charges reaches the Minimum total invoice amount.
Example 3: Setting the Minimum total invoice amount to $0.00
If you set the Minimum total invoice amount to $0.00 then an invoice will be sent to the borrower when any invoiceable charge reaches the Individual charge amount.
Specifies the number of invoice reminders to send. Only one invoice is sent for an individual charge. Then invoice reminders are sent.
Something to bear in mind with invoice reminders is that you’ll generate a reminder each time you run the task. This is different from the other notices where they’re only generated once. For example, say you run a scheduled task to generate a reservation available notice. Running the task again won’t generate the same reservation available notice — it’s only generated once. Now run a scheduled task to generate an invoice. Running the task a second time will generate the first invoice reminder, running it a third time will generate the second invoice reminder, and so on until you reach the number specified as the Number of invoice reminders to send.
A charge will be invoiced if it’s equal to or greater than the Individual charge amount specified here, and only if it’s been set for the number of days specified in the Period.
Typically you might specify a Period to allow the borrower some time to pay the charge rather than sending an invoice as soon as the charge reaches the Individual charge amount.
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