If your site is on Relationship Invoicing and you have the feature enabled, Chargify gives you the option to set a Site Default for the Net Terms on your subscriptions.
Net Terms gives you the ability to set a number of days after a subscription renews before that subscription’s automatic payment will collect. This gives your clients time to review their Invoices prior to the payment being collected. You can set this as part of the subscription creation process OR update it on new and existing subscriptions via the Subscription Summary pane.
For grouped subscriptions, note that you may only set Net Terms on the parent subscription and all child subscriptions will adhere to the parent’s Net Terms. Un-grouping a child subscription will result in it re-setting to the Site Default.
At this time, Net Terms will only apply at a subscription’s renewal, and not at signup or for mid-period component allocations. To have a new customer’s first invoice to be subject to Net Terms, we recommend creating the subscription with a future billing date of 30 minutes to an hour. Once that time hits, an invoice will be generated and follow the Net Terms strategy specified on the subscription. Alternatively, the subscription may first be created on remittance to prevent immediate collection of payment and later changed to automatic billing.
There are 3 options for Net Terms:
- Due Immediately: Subscription’s created with a Net Terms of “Due Immediately”, have 0 Net Terms and are automatically paid when the subscription renews (if on automatic billing) by the primary payment profile.
- Site Default: You can customize a default value for new subscriptions by visiting the Settings page. This default value will be pre-selected when creating new subscriptions and unless over-ridden, the newly created subscriptions will have a due date of that number of days after Invoice issue.
- Custom: You can customize the Net Terms on a per subscription basis as part of the creation process. Acceptable values are between 1-180 days from Issue.
You may also customize your other information within the invoice settings.