The production's Billing tab contains billing information that will propagate to new orders and invoices. We'll discuss each of these form fields in turn.
Inherit Company Billing Settings?
A production will inherit billing information from its parent company if this is enabled.
If a major studio negotiates a rental agreement with you that applies to all of their productions and wants to use the same COI, terms, discounts, etc., you'd turn this on. Otherwise, enabling this setting is rare.
See Company Inheritance for more details.
Contract Signed? Has Deposit / COI?
Did the customer sign your rental agreement or provide a deposit or COI (certificate of insurance)? If not, the production and orders will display a red alert.
Use Production Applications to collect your rental agreement and COI from your customers.
The expiration date of the COI. If today's date is after the COI, the production and orders will display a red alert.
Enable Is COI expiration date required? in your Production Settings to get an extra red alert if the
Has Deposit / COI? toggle is enabled but the
Insurance Expires date is missing.
The invoice payment terms.
Due on Receipt is the same as "COD" , "Cash on Delivery" or "Collect on Delivery". You're asking the customer to pay the invoice on or before pickup or delivery. Typically these are credit card payments.
Net 15, Net 30, and Net 60 are used when the production is "on account" and has these many days to pay once they receive the invoice.
Enable automatic invoice reminders to be sent three days before the invoice due date, on the due date, and three days after the due date for open and overdue invoices.
If an order or invoice is on Net X terms and has no PO, a red alert will appear on the Orders List and order detail page.
The tax region or jurisdiction that determines the default sales tax rate for orders associated with this production.
You can add or edit your
Tax Regions and
Default Tax Region in your Production Settings.
Rentals Discount & Sales Discount
Default discounts to be applied to all new orders created for this production. Can be overridden at the order level.
Start Date & Wrap Date
When the production starts and wraps.
If set, you'll get lists on your Dashboard Home page notifying which productions are starting and wrapping the upcoming week, which may help you forecast your workload.
Also, the wrap date is useful when a production is late on payment and wrapping soon.
You can also filter and sort by Start and Wrap Dates on your Productions List.
Preferred Billing Method
Defaults to Email, but apparently some production accountants still want to be mailed their invoice. ¯\_(ツ)_/¯
Options include Commercial, Event, Feature Film, MOW (movie of the week), Photoshoot, Pilot, Staging, Student Project, TV Series, Web Content, or Other.
This helps you gauge the size of the production and what kind of terms you'd want to offer.