Recurring and Non-recurring Addons

Addons are the extra charges implemented to a subscription apart from the base plan charge. There are two types of add-ons — recurring and non-recurring. A recurring add-on included in a subscription is charged as per billing frequency of subscription. A non-recurring add-on incorporated in a subscription will be immediately charged and once only. Also an add-on, which is non-recurring is not pro-rated on the basis of the billing cycle, but a recurring add-on is pro-rated based on billing cycle automatically.

An addon includes extra features that are not the part of the subscribed plan, however are made available to the customers on purchase of the addon.

Types of Addons

There are two types of add-ons :- Recurring and Non-Recurring

Recurring Addons

These add-ons are perfect when you want to bill your customer for the same feature every time. There can be an add-on that lets users to see their projects as Gantt charts. This add-on can be charged by you each time you charge for the plan to make it a recurring addon.

A Non-Recurring Addon

Customers are charged only once for a non-recurring add-on. A separate invoice is raised for a one-time add-on. You can provide a one-time add-on that let customers to support all their info in the cloud. Normally, customers would not desire to save date often. This need would call for the definite occasion so saving data in the cloud can be a non-recurring add-on.

A non-recurring add-on is a service or product that has been modeled into the ChargeMonk, which does not revamp with the subscription however it is connected to it. A non-recurring charge is an ad-hoc charge against the customer and is not associated to any specific subscription. A non-recurring add-on can also be implemented against a customer record; in that case, it is not linked with any specific subscription. 

Comments

Post a Comment

Popular posts from this blog

Simple Recurring Billing Software for Rental Companies

You understand how annoying collections are in case you manage your own property, late payments and bounced checks can be a recurrent headache. And in case you handle someone else’s property, there is the additional trouble in explaining past-due collections to your customers, the property owner. What if there was better, easier, and simple recurring billing software for rental companies to handle the rent collection at your business? The business of property management has no less challenge. From the property maintenance and upkeep to the legal liabilities, you have got plenty on your plate and that is before you factor even in the no.1 headache for the property managers and that is collections . Whenever tenants are not paying on time, it boosts your workload, which results in a number of similar headaches, like: ·         Having to go after the tenants for payments. ·         Tenants requesting more time ...
Read more

Metered Billing Work in a SAAS or Subscription Business

Image
  There are various reasons why businesses require a billing platform. It can monetize services, products, and help you to break into new markets. Additionally, it provides automating invoicing, flexibility, payment processing, and much more. Billing in current ecosystems swiftly changes and progresses can disorient companies in case they do not join the trend. In addition to this, transformation in changes in sales/marketing and the digital system is bringing revolution to billing practices. So, today companies must shift along with the dynamics of the modern-day market. The billing’s digital reinvention comes with the real promise, comprising the ability for companies to monetize their model worldwide. Therefore, let’s have a look at some of the billing systems.   Software as a Service - Billing Platforms Software as a Service is the modern billing system, where engineers can store the applications on cloud and access them by connected devices. Moreover, it is the di...
Read more

Revenue Recognition Model

  The new standard formed a completely new accounting model for revenue recognition. Its objective is to regulate the way the entities recognize revenue. Several entities may have an insignificant change, which result into the new standard whereas other entities can end up with a huge impact on adoption. Though, almost all the entities have to deal with the additional disclosure needs. This latest standard on the revenue recognition is the principle-based approach relatively a “bright line” rules-based perspective. It is the only revenue recognition model used across all transactions and industries. Five-Step Revenue Recognition Model The p r imary principle of new standard is that an entity should identify revenue to represent the transfer of assured services and goods to customers in the amount that reflects contemplation to which the entity supposes to be permitted in exchange for those services or goods. To perform this purpose, the standard formed a five-step model for most of...
Read more