Date Usage in iMIS
In addition to calculating the billing rate for each product line item, iMIS also calculates a date range to project what a customer's term or subscription will be when the customer pays or renews. Unless manually overridden, the Enter and edit payments window (from Billing, select Enter and edit payments) uses this projected date range to update the new Paid Thru date for each line item when a customer pays a balance in full. When the first cross-referenced customer type item is paid in full, the overall customer Paid Thru date also is updated to agree with that line item's new Paid Thru date.
iMIS uses the following dates:
- Bill Begin - This is the first date of a term through which an individual product line item has been billed, regardless of whether or not payment has been received.
- Billed Thru - This is the ending date of a term through which an individual product line item has been billed, regardless of whether or not payment has been received.
- Paid Thru - This is either the expiration date of a customer's dues or subscription product or the period through which a customer has paid. This date is always the last day of the month.
- Renewed Thru - This is the date through which a customer has been billed for products, regardless of whether or not the customer has paid. This date determines which customers receive renewal notices.
A number of factors determine the projected product term. After iMIS calculates the begin date, it normally derives the Thru Date to be n months later (minus 1 day), where n represents the billing interval. The following example shows the formula for calculating the Thru Date using an annual and quarterly billing interval.
| Begin Date | + | n (Billing Interval) | = | Thru Date |
|---|---|---|---|---|
|
1/01/2003 |
+ |
Annual (12) |
= |
12/31/2003 |
|
1/01/2003 |
+ |
Quarterly (3) |
= |
3/31/2003 |
More:
Viewing the calculated date range
Calculating dates in billing runs