A billing cycle is a state of time. Upodi is waiting for this event to happen and the event is controlled by the state of the subscriptions on the platform.
Once a subscription holds charges due to be processed, the billing cycle will grab the subscription(s) and immediately start processing them. A billing cycle includes the context of the subscription such as customer, payment method, VAT information, quantities etc.
The output of a billing cycle is an invoice, and a payment if there is a payment method which allows processing of the invoice. Should this happen a transaction is created in relationship to the invoice.
Once a billing cycle is completed, it advances the given subscription(s) in time. Advancement is done by setting next charge date and previous charge date on future and past subscription charges respectfully.
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Updated almost 3 years ago