Definition of Billing cycle:
Number of days between one invoicing period (during which invoices are prepared and dispatched) and the next.
Billing cycles guide companies on when to charge customers while helping internal departments, such as accounts receivable units monitor the amount of revenue yet to be collected.
A billing cycle is the interval of time from the end of one billing statement date to the next billing statement date for goods or services a company provides to another company or consumer on a recurring basis. Although billing cycles are most often set on a monthly basis, they can vary in length depending on the type of product or service rendered.
How to use Billing cycle in a sentence?
- A billing cycle refers to the interval of time from the end of one billing statement date to the next billing statement date.
- Billing cycles help customers regulate their expectations regarding the payment timetables so they can budget their money responsibly.
- Billing cycles guide companies on when to charge customers, and they help businesses estimate how much revenue they will receive.
- A billing cycle is traditionally set on a monthly basis but may vary depending on the product or service rendered.
Meaning of Billing cycle & Billing cycle Definition