Budget billing

Water is the most common example, because water usage tends to peak in the summer months, leading to higher bills. To avoid these high water bills, the customer can sign up for budget billing.

Under a budget billing plan, the amount that the account is charged on each bill, called the budgeted amount, is an estimated average of the bills for an entire year. Because this amount is only an estimate, Infor Public Sector also keeps track of the cumulative difference between the amount billed and the actual amount of the charges, called the variance. Infor Public Sector settles the variance by billing the account for the cumulative amount at the end of each plan year. You can also settle the variance manually.

The budgeted amount also must be recalculated from time to time to keep the variance to a minimum. Depending on the plan, the budgeted amount can be recalculated annually, or at a set interval of months. You must set up a Recalculate Budgeted Amounts task in the Batch Manager to process these automated recalculations.

You can also set up a Budget Billing Payment Review task in the Batch Manager to review accounts on budget billing plans and ensure that they are meeting their payment obligations. Any accounts that are not making sufficient payments are displayed in the Budget Billing Payment Review item in My Infor.