A billing schedule defines the schedule to bill a sale over a range of time or a contract term. For example, you may want to bill monthly for the sale of a one-year membership, or bill quarterly for a three-year service contract. Billing schedules manage the billing process by tracking when to invoice customers and how much to bill. For example, you can create a billing schedule that defines the initial billing amount at 50% of the sale total with a recurrence frequency of monthly and a recurrence count of two. If you apply this billing schedule to a service contract sales order that totals $1,000.00, the sales order will be billed as below: Initial invoice for 50% of the sale = $500.00 The balance of the amount due is automatically split evenly between remaining bills. Second invoice one month later for 25% of the sale = $250.00 Third invoice one month after the second for 25% of the sale = $250.00

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