Deferred Billing
CargoWise’s deferred billing functionality allows businesses to delay charging consumers until a specific future date. This is especially beneficial in logistics settings where services are delivered over time or billing is linked to milestone events like delivery confirmation or customs clearance. By postponing billing, logistics companies can ensure that revenue recognition matches actual service delivery, resulting in accurate financial reporting.
The system allows users to create billing schedules and apply deferred billing rules to jobs, clients, and service types. CargoWise automatically generates bills when the stated requirements are met, avoiding the need for manual tracking. This improves operational efficiency and prevents early or improper billing, resulting in better client relationships. Furthermore, the feature promotes conformity with accounting standards by precisely scheduling revenue realization.
