Auto-invoicing

Overview

Items can be set to "auto-invoicing" and Loop will automatically generate the next invoice for all agreements that exist with the item using the payment frequency configured for the item.

Example: For a monthly subscription, a customer signs up on November 29th. The auto-invoicing will generate the next invoice on December 29th.

For a new item, there would be no agreement, thus the first bill date will be generated from the start date of the agreement.

For an existing item, which may have existing agreements, the first autogenerated invoice for existing agreements will use the bill date of the last pending or successful manual invoice, and adding the item frequency to it.

Example: Last successful manually created invoice for the item, which has an hourly frequency, was at 8am, you enable auto invoicing 12pm for that item. The next invoice generated for that agreement will be at 9am.

If this is not desired, the workaround is to manually create an invoice for now (12pm), and only then enable auto invoice. The next invoice will be generated from that just created manual invoice and be set to 1pm

Requirements

The following preconditions exist when creating an item that is auto invoiced:

• The entity

  • must be setup to delegate signing

  • an inbound treasury wallet (where funds will be directed) must be configured.

• The item type cannot be Outbound Payment (ID: 4)

• Item amount must be > 0 (cannot be a variable rate item)

If Chargebee or Stripe is enabled, you cannot enable auto invoicing on any items. This is because we generate invoices based on the events from Chargebee/Stripe.

If you change the amount or the frequency of an item that is set to auto-invoicing, the next invoice generated for any existing subscriptions will reflect the new amount/frequency.

Enabling auto invoicing for an item

API

• For a new item, call the POST item endpoint (POST {{apiUrl}}/api/v1/items)with the usual attributes, with the addition of autoInvoice and initialOffset

• For an existing item, call the GET endpoint to get the existing item details

  • Use those details as the body of the PUT request (PUT {{apiUrl}}/api/v1/items), changing autoInvoice and initialOffset as needed

Name	Required	Default Value	Description
autoInvoice	Optional	false	A boolean value indicating whether this item should auto generate invoices
initialOffset	Optional	0	The number of days to offset the initial bill date for. For example, if the initialOffset is 7, the bill date of the first invoice will be 7 days from the date of signup

Dashboard

On the "subscriptions page" under "manage" there is a selection to turn on "auto-invoicing".

Cancelling an autogenerated invoice

You are able to cancel an autogenerated invoice. If the item is still configured to auto invoice, the next invoice will be generated based on the bill date of the cancelled one. If the item is no longer configured to auto invoice, the next invoice will not be generated.