Billing Codes
A billing code is a unique identifier used for invoicing that creates accounting settlements automatically. It consists of two components: a charge (descriptive text) and an accounting configuration or blueprint. The blueprint guides Logic in creating settlements whenever the charge is used, forming the Billing code concept.
Billing codes automate accounting settlements for client and service provider invoices, saving time on data entry from the administrative perspective.
In this tutorial, we will learn how to add Billing Codes and how they aid the automation process.
- You need an account categorized under Profit & Loss category, as well as the account type defined as subtotal and/or VAT. To learn more about the Chart of Accounts, click here.
Depending on the country you are logged into the system, the number and type of Tax fields may vary.
Existing Billing codes cannot be edited, only deleted.
There are Cost and Revenue charges in the Billing Codes, and they are treated differently.
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