Bills are generated to raise the collection demand, track the expenses in different heads, to fulfill govt. regulatory needs like GST and other compliances. On a temporal basis, bills can be divided under below types:
- Periodic or Cycle Bills: Most of the time billing is a recurring process where bills need to be generated per cycle. Normally the cycle can be a month, quarter. Examples are CAM, Electricity bills.
- On-Demand/ Manual: Generating bills manually or on-demand like for Tenant Move-In, Materials, Vendors, etc. These bills are normally for a specific date rather than a period.