Billing

Billing Settings

What this is about

This page manages settings related to Vektor's billing, accounts receivable, and payment monitoring. You can define your company’s invoice templates, defaults for recurring billing, automatic payment reminders, late payment interest, and details of any collection partners. With the right settings, you minimise manual work and ensure smooth cash flow.

Getting started

1. Go to Settings in the main menu on the left side.
2. Select Billing from the settings menu.
3. You will see the settings menu divided into five sections: General, Collections, Collection Partners, Communication, and Recurring Billing. Open the desired section by clicking its heading.

What you can do on this page

1. General
   Here you manage the core engine of the entire billing process. Since there are many settings, they are divided thematically:

• Invoice appearance and basic information: Define the format of the reference number, the first invoice number, and the reminder period. You can add your company logo to the invoice, standard additional information below invoice lines, or for example a separate advertising banner.
• Email and sending: Set the default sender name and email address and select a ready-made message template for email invoices. You can also specify whether the invoice date automatically updates to the current date when the invoice is sent.
• Bank files and payments: Choose the type of reference file to be used (e.g., general CAMT052). Enable Automatic matching so that the system marks invoices as paid based on incoming reference payments. You can also precisely define the order in which partial payments are allocated (e.g., expenses -> interest -> principal) separately for consumers and companies.
• Billing methods: Enable or disable the methods your company uses (paper, email, e-invoice, etc.) and, if necessary, define billing surcharges for these.
• Inventory management: Specify whether the billing transaction reduces stock directly (if stock is not already updated via separate delivery notes/shipments).
• Remember to click Update at the bottom of the page to save changes.

2. Collections
Here you define the rules for payment monitoring.

• Customer types: You can set separate rules for Business customers and Consumer customers. Define the number of payment reminders, how many days after the due date the reminder is sent, the reminder fee amount (e.g., €5 for consumers), and the applicable late payment interest.
• General settings: Set the minimum amount for collection and define the rules for accumulating late payment interest.
• Reminder texts: Write the ready standard texts for the 1st and 2nd payment reminders at the bottom. Finally, press Update.

3. Collection Partners
If you use an external debt collection agency for unpaid invoices (e.g., Visma Amili or Intrum), you manage them here.

• Adding a new partner: Click + New Collection Partner. Enter the partner’s name, assignment number, and select the transmission method. Save by pressing Save.

4. Communication
Here you connect ready-made SMS and email templates to specific billing events.

• You can select from dropdown menus the automatic messages sent by the system, for example when an invoice has been sent, or when a partial payment or the full invoice amount has been received from the customer. You can create message templates via the links on the right side of the page.

5. Recurring Billing
Set the default settings for regularly recurring contract invoices.

• Set the default billing period, invoice date, and the default status of the invoice to be created.
• You can activate a useful feature that safely leaves a new recurring invoice in "Draft" status if the previous invoice in the same series is still unpaid by the customer.

Tips and notes

• Legally compliant collection fees: Make sure you set reminder fees and payment periods for consumer customers in the "Collections" section according to the current Consumer Protection Act (e.g., reminder fee up to €5 and reminder period 14 days). Terms for business customers may be more flexible.
• Save time with automation: By enabling automatic payment matching on the General tab, you save significant time for the accounts receivable clerk, as bank statements do not need to be manually reviewed.
• Test message templates: If you enable automatic SMS or email confirmations (e.g., payment received), create a couple of test invoices for yourself in the system to see that the messages look professional from the customer’s perspective.