How to Add Renewal Information to Subscription Plans in SuiteBilling

🚨 Problem: Need to add renewal information to subscription plans in NetSuite? 🚨

This tutorial will walk you through the steps of adding renewal information essential for your subscription plans in NetSuite, ensuring effective subscription management. 📅✨

Step-by-Step Guide 📋

1. Access Subscription Plans
   • The first thing to do is to go to Lists > Subscriptions > Subscription Plans. 📜
   • Find the subscription plan that we want to renew and click on Edit. ✏️
2. Edit Subscription Plan
   • Once you’re on the screen for the subscription plan, find the Renewal subtab in the bottom part. 🔍
   • From the Default Renewal Term list, select the renewal term for the subscription (e.g., one year). 📅
3. Select Renewal Method
   • From the Default Renewal Method, choose the renewal method. 🛠️
   • If you selected Extend Existing Subscription, you’re almost done; proceed to the final steps. ✅
   • If you chose Create New Subscriptions, you will need to do the following: 📋
4. Set Up New Subscription
   • First, select a Default Renewal Subscription Plan. 📑
   • Once this is done, choose a Default Renewal Transaction Type, which can be set to:
     • Do Not Create Sales Transactions. 🚫
     • Estimate Opportunity. 💡
     • Sales Order. 📊
   • This will automatically initiate the renewal process. ⚙️
5. Configure Automatic Renewal
   • Check the Automatically Initiate Renewal Process box. ✔️
   • Enter the appropriate number of days before the subscription end date in the designated field. 📆
6. Note on Uplift Pricing
   • If you’re finding this tutorial helpful, make sure to subscribe to the channel for more NetSuite tutorials. 📹
   • When the uplift pricing feature is enabled, you can apply percentage price increases to a customer’s renewal pricing. 📈
   • This can be done on the Renewal Uplift subtab. 🌟
7. Enter Price Increases
   • You can enter the desired price increases for both tier and header levels. 💲
   • This feature acts as a template for renewal pricing updates. 📊
   • When you create a renewal, the pricing plan updates automatically based on the defined percentage uplift. 📅
8. Save Renewal Information
   • After you’ve entered all relevant renewal and pricing information, click on Save. 💾
   • Once saved, the Price Books subtab will allow you to create a price book by assigning price plans for each item. 📚
9. Automatic Price Increases
   • If you’ve enabled the global invoicing preference for defined percentage uplift for subscription lines, NetSuite will automatically apply percentage price increases for customer renewals. 🔄
10. Invoice Generation
    • To check the invoices generated by SuiteBilling, Kolleno can help you optimize that with a suite seamlessly integrated with NetSuite. 🤝

Congratulations! 🎊By following these steps, you’ve successfully added renewal information to subscription plans in SuiteBilling! 💰📈

If you found this tutorial helpful, please subscribe to this channel for more tips and tutorials. Visit www.kolleno.com for more tools to enhance your accounting processes! 🎥✨