THE PROCESS OF CREATING INVOICES ON THE BASIS OF UNPAID ON THE DATE PAYMENT PLANS. ONLY THE PLANS CONNECTED TO A BILLING CYCLE THAT HAVE 'TODAY' VALUE AS 'NEXT BILLING DATE' ARE SELECTED FOR INVOICING

THE PROCESS OF CONNECTING INVOICES AND PAYMENTS MADE BY

THE DATE. THERE ARE TWO BALANCING ALGORITHMS (THEY ARE

SELECTED ON MERCHANT LEVEL):

OLDEST INVOICE FIRST – THIS ALGORITHM IS OFTEN USED FOR COLLECTIONS OR IN CASES WHEN A CUSTOMER HAS TO BE CHARGED WITH A SINGLE PAYMENT

THE PROCESS OF CONNECTING INVOICES AND PAYMENTS MADE BY

THE DATE. THERE ARE TWO BALANCING ALGORITHMS (THEY ARE

SELECTED ON MERCHANT LEVEL):

NEWEST INVOICE FIRST – THIS ALGORITHM IS OFTEN USED IN BILLING. PREPAYMENTS IN ANY POSITIVE BALANCES OR ALLOCATED ON ANY OUTSTANDING INVOICES

THE PROCESS OF CONNECTING INVOICES AND PAYMENTS MADE BY

THE DATE. THERE ARE TWO BALANCING ALGORITHMS (THEY ARE

SELECTED ON MERCHANT LEVEL):

OLDEST INVOICE FIRST – THIS ALGORITHM IS OFTEN USED FOR COLLECTIONS OR IN CASES WHEN A CUSTOMER HAS TO BE CHARGED WITH A SINGLE PAYMENT

THE PROCESS WHEN FOR ALL OUTSTANDING INVOICES, WHICH REMAINED UNPAID AFTER BALANCING PROCESS, THE CLAIMS ARE GENERATED AND SUBMITTED TO THE PROCESSING ENTITY TO COLLECT PAYMENTS. AFTER SUBMITTING THE CLAIMS AND GETTING RESULTS, BILLING IS CLOSED WITHIN 3 DAYS (USUALLY IT TAKES 1 DAY, BUT SOMETIMES IT IS FOLLOWED BY RETRIES)

THE PROCESS WHEN FOR ALL OUTSTANDING INVOICES, WHICH REMAINED UNPAID AFTER BALANCING PROCESS, THE CLAIMS ARE GENERATED AND SUBMITTED TO THE PROCESSING ENTITY TO COLLECT PAYMENTS. AFTER SUBMITTING THE CLAIMS AND GETTING RESULTS, BILLING IS CLOSED WITHIN 3 DAYS (USUALLY IT TAKES 1 DAY, BUT SOMETIMES IT IS FOLLOWED BY RETRIES)

THE PROCESS WHEN RETRIES OF SOFT DECLINES ARE RUN. THEY ARE RUN A MERCHANT-DEFINED NUMBER OF TIMES WITH CREDIT CARD ACCOUNT UPDATER INVOLVED

THE PROCESS OF CLOSING THE BILLING CYCLE AND IMPORTING

RESULTS

THE PROCESS OF ALLOCATION OF NEWLY COLLECTED FUNDS TO THE

OUTSTANDING INVOICES

THE PROCESS WHEN DECLINED OR LATE FEES ARE ASSESSED ON ANY

UNPAID BALANCES

THE PROCESS OF RESENDING TRANSACTIONS AFTER GENERATING NEW CLAIMS. AS A RESULT IT IS POSSIBLE TO TRY RESENDING THE SAME AMOUNT OR THE SAME AMOUNT WITH FEES