Recurring billing lifecycle includes the following processes: invoicing, balancing (1), billing, processing, reprocessing, closeout, balancing (2), fee assessment and rebilling. If you are interested in the more profound explanation of recurring billing lifecycle you can find it and much more in the articles at #Paylosophy http://paylosophy.com/

2. THE PROCESS OF
CREATING INVOICES ON
THE BASIS OF UNPAID
ON THE DATE PAYMENT
PLANS. ONLY THE
PLANS CONNECTED TO
A BILLING CYCLE THAT
HAVE 'TODAY' VALUE
AS 'NEXT BILLING DATE'
ARE SELECTED FOR
INVOICING

3. THE PROCESS OF CONNECTING
INVOICES AND PAYMENTS MADE BY
THE DATE. THERE ARE TWO
BALANCING ALGORITHMS (THEY ARE
SELECTED ON MERCHANT LEVEL):

4. OLDEST INVOICE FIRST – THIS
ALGORITHM IS OFTEN USED FOR
COLLECTIONS OR IN CASES
WHEN A CUSTOMER HAS TO BE
CHARGED WITH A SINGLE
PAYMENT
THE PROCESS OF CONNECTING
INVOICES AND PAYMENTS MADE BY
THE DATE. THERE ARE TWO
BALANCING ALGORITHMS (THEY ARE
SELECTED ON MERCHANT LEVEL):

5. NEWEST INVOICE FIRST – THIS
ALGORITHM IS OFTEN USED IN
BILLING. PREPAYMENTS IN ANY
POSITIVE BALANCES OR
ALLOCATED ON ANY
OUTSTANDING INVOICES
THE PROCESS OF CONNECTING
INVOICES AND PAYMENTS MADE BY
THE DATE. THERE ARE TWO
BALANCING ALGORITHMS (THEY ARE
SELECTED ON MERCHANT LEVEL):
OLDEST INVOICE FIRST – THIS
ALGORITHM IS OFTEN USED FOR
COLLECTIONS OR IN CASES
WHEN A CUSTOMER HAS TO BE
CHARGED WITH A SINGLE
PAYMENT

6. THE PROCESS WHEN FOR ALL
OUTSTANDING INVOICES, WHICH
REMAINED UNPAID AFTER
BALANCING PROCESS, THE
CLAIMS ARE GENERATED AND
SUBMITTED TO THE
PROCESSING ENTITY TO
COLLECT PAYMENTS. AFTER
SUBMITTING THE CLAIMS AND
GETTING RESULTS, BILLING IS
CLOSED WITHIN 3 DAYS
(USUALLY IT TAKES 1 DAY, BUT
SOMETIMES IT IS FOLLOWED BY
RETRIES)

7. THE PROCESS WHEN FOR ALL
OUTSTANDING INVOICES,
WHICH REMAINED UNPAID
AFTER BALANCING PROCESS,
THE CLAIMS ARE GENERATED
AND SUBMITTED TO THE
PROCESSING ENTITY TO
COLLECT PAYMENTS. AFTER
SUBMITTING THE CLAIMS AND
GETTING RESULTS, BILLING IS
CLOSED WITHIN 3 DAYS
(USUALLY IT TAKES 1 DAY, BUT
SOMETIMES IT IS FOLLOWED BY
RETRIES)

8. THE PROCESS WHEN
RETRIES OF SOFT
DECLINES ARE RUN.
THEY ARE RUN A
MERCHANT-DEFINED
NUMBER OF TIMES
WITH CREDIT CARD
ACCOUNT UPDATER
INVOLVED

9. THE PROCESS OF CLOSING THE
BILLING CYCLE AND IMPORTING
RESULTS

10. THE PROCESS OF ALLOCATION OF
NEWLY COLLECTED FUNDS TO THE
OUTSTANDING INVOICES

11. THE PROCESS WHEN DECLINED OR
LATE FEES ARE ASSESSED ON ANY
UNPAID BALANCES

12. THE PROCESS OF
RESENDING TRANSACTIONS
AFTER GENERATING NEW
CLAIMS. AS A RESULT IT IS
POSSIBLE TO TRY
RESENDING THE SAME
AMOUNT OR THE SAME
AMOUNT WITH FEES