In one of the previous posts called A new member for the Exact Online family, Robert Huberts introduced our new Subscription functionality. He explained that the new subscription module is meant for companies that offer goods or services based on a contract that is periodically both invoiced and renewed. He also mentioned that the subscription module can only be used together with the Exact Online Invoice module due to integration between the Subscription module and the invoicing functionality. He wrote about subscription types (to define the length of a subscription period and the invoicing frequency within it) and he mentioned the three ways to handle the renewal of a subscription – no renewal, automatic renewal and manual renewal.
So let’s have a first glance at the creation of a subscription. We tried to keep it as simple and clear as possible by only showing the fields that are absolutely necessary to create one. Some additional fields are hidden, like the discount and net price fields in the lines, and can be added by clicking the customize link in the upper right corner.
1. The first thing you need to enter is the customer for who you are creating the subscription – the subscriber. This is the person who is buying your service or product. If the invoice needs to be sent elsewhere, you can select an alternative customer for the Invoice to field. If you don’t the field is automatically filled with the subscriber as well.
2. The next step is defining a subscription type. First click on the icon on the right of the Subscription field. If you created a new administration there are already three types that you can choose from. If not, click the New button and create a new subscription type.
Here you can create a new type. Enter a code and description. This can be anything you want. You could make an item / product specific type or you could make a more general one.
For example: If you sell two different magazines you could create one type for both magazines (items) or you could create two separate types – one type per item. It’s up to you to decide what fits you best, but I recommend a type per service or item. I defined a type for a magazine I’m selling called Super Cars. It’s a 1 year subscription after which it will be prolonged for another year. There is a cancellation period of 2 months within the first year and 1 month after that.
After you have saved the new type you can select when creating new subscriptions in the future.
3. The next step is to add the service or product you are selling to the subscription lines in the Create: Subscription page. In my example this is the Super Cars magazine. The unit price of the subscription is €29,99 incl. 6% VAT.
4. To finish up click the Save button. Congratulations! You have just created your first subscription! From the subscription card you can edit the subscription to make changes, print a subscription confirmation for the subscriber or even cancel the subscription – all with the click of a button.
In the next blogs we’ll come back to subscriptions and write about printing subscriptions, generating and printing invoices, renewing subscriptions and updating item prices in all active subscriptions.
Remember that you can only use or add the subscription functionality to you license if you have the invoice functionality as well. If you do not use Exact Online yet, you can select the subscription functionality when you choose the Exact Online Premium subscription.
Now that this module is generally available I am very interested in your opinion of it. Please let me know in the comments. Thank you!