Billing for Fire Insurance
Process - Update the Charge Rate at “Charge Setup” & Generate Invoice at “Batch Invoice”
1. Before generating invoice, enter the applicable charge rate at Property > Setup > Charge Setup.
2. At the Charge Setup page, there is a default charge item for Fire Insurance
(item code 1003).
- Update the charge name (if necessary) under the Description column.
- Enter
the charge rate (price per Share Unit) under the Unit Price column.
- Click
on the Save button below to save.
3. Next,
to generate invoice, go Property > Invoice > Batch Invoice. Click on “+
New Batch” button to generate new batch invoice for the Fire Insurance charge.
4. Select the applicable settings for this Fire Insurance batch.
- Charge Type - Select
the Fire Insurance charge item from the dropdown list.
- Customer group - Select
the relevant customer group for billing.
- For the Start Date and End Date – Choose the effective Fire Insurance charge
period to display on the invoice (e.g., if billing for one year Fire Insurance
effective from 1st May 2024 to 30th April 2025, choose 1st May 2024 as the Start Date and 30th April 2025 as the End
Date.)
- Bill Date - Select the invoice date and transaction date in system.
- Payment Terms and Due Date - Select the applicable payment terms and the invoice due date.
- Lastly, click
on the Add New button at the bottom and proceed to generate invoice.
Note: If some of the screenshots or steps viewed here are different from the ones in the current system, this is due to our continuous effort to improve our system from time to time. Please notify us at info@timeteccloud.com, we will update it as soon as possible.
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