Finance entails the configuration of financial-related objects for reporting and taxation.
It includes configuring low-level rating/billing related components in Monetization. The components include service type, measurement units, intervals (recurring period), resources/currency, and general ledgers for financial bookkeeping.
Note:The components should be configured before the creation of products, rate plans, and discounts in Monetization because they are used during the process.
Information:Under business configuration, the most important components to configure are: service design, finance, and charging. They must be configured for Monetization to perform rating and to reflect your business use case.
The charging section enables the configuration of resources in Monetization and determines the behavior and limitations of the resource for each payment type.
Service design entails all the essential components that can be configured in Monetization to recognize usage events, extract the parameters, determine unit conversion, and ultimately determine the quantity to be rated.
Vouchers are generated code(s) that result in special deals or add-ons given to customers.
Dunning is a scheduled task that periodically checks for unpaid overdue bills and then executes actions such as sending out payment reminders, applying penalty fees, or sending out notifications (JSON requests) to third-party systems.
The template section enables the configuration of documents and mailing templates in Monetization for the invoice, dunning, and financial reports.
Hosted Payment Page is a secure online platform offered by a payment service provider or third-party processor, facilitating businesses to securely and conveniently accept payments from customers through our checkout process that keeps customer convenience in mind.