We plan to introduce a subscription management feature to simplify recurring billing for your company. This upcoming functionality will allow automatic invoice generation based on the invoice type—either as a one-time payment or as a recurring subscription for a specified duration (such as monthly, quarterly, or yearly).
Flexible Invoice Types:
Users will be able to select between one-time or subscription-based billing when creating invoices.
Automated Invoice Generation:
For subscriptions, the system will automatically generate and send invoices at specified intervals (e.g., monthly, quarterly, yearly) without manual intervention.
Subscription Duration and Renewal:
Users will be able to set the duration of subscriptions and define automatic renewal rules. The system will track billing cycles and issue invoices until the subscription is cancelled or expires.
Prorated Billing:
The system will optionally support prorated charges for mid-cycle changes, upgrades, or downgrades.
Notifications and Reminders:
Customers and admins will receive notifications for upcoming, due, and overdue invoices, as well as renewal reminders.
Payment Integration:
Automatically generated invoices will be payable using the company’s configured payment gateways (Razorpay, Paytm, PayU, etc.).
While creating a new invoice, users will select the invoice type: One-Time or Subscription.
If Subscription is selected, users will choose the billing frequency (e.g., monthly, quarterly, yearly) and define the start date and duration.
The system will automatically generate invoices at the start of each billing period and send them to the customer.
The customer will receive an email/SMS notification with invoice details and a payment link.
Payments will be tracked automatically, and the subscription status will be updated accordingly.
SaaS or software license fees charged monthly or annually.
Service retainers or maintenance contracts billed quarterly.
Magazine or membership subscriptions with fixed renewal periods.
Any recurring billing scenario requiring automatic invoice generation and reminders.
Reduces manual workload and eliminates the risk of missed invoices.
Ensures timely and consistent revenue collection.
Improves customer experience by providing clarity and predictability in billing.
Integrates seamlessly with existing payment gateway and reporting modules.
We will provide updates and timelines as development progresses.