Recurring billing is a billing transaction that is applied during a specific time interval. The recurring billing system collects from either checking or credit card account, manually or automatically sets up a billing schedule, deposits collection directly to your account keeping it as the original source, and electronically notify customers about the payment collection which will improve the audit of your billing and collection transactions.
Auditing your billing and collection transactions require a lot of accounting paper works. Most often human error could cause billing account discrepancies. This is more so when collections are from recurring billing transactions. To improve the management of your billing and collection transactions, an efficient recurring billing system could provide you with the following helpful facts:
Collects from either checking or credit card account
As per the information I got from my company, recurring billing system collects billing payments from a checking account or a credit card account. This method of billing collection from checking account and credit card is given permission by the account holder to render recurring billing payments. A checking account protects the consumers from the risk and hassle of personally remitting recurring billing dues. Recurring billing taken from credit card accounts also entitles the account holders more gift incentives