Subscriptions
A Subscription is a recurring billing agreement. Instead of creating a new Order every month, a subscription automates the generation of invoices based on a schedule.
How It Works
When you create an Order with a Billing Period (e.g., Monthly), Floatless automatically creates a Subscription record in the background.
- Initial Order: The first invoice is generated immediately.
- Renewal: On the next billing date, Floatless automatically generates a new Invoice and emails it to the customer.
Key Concepts
Billing Period
Determines the frequency of invoices.
- Monthly: Billed every 30 days.
- Annually: Billed every 365 days (often with a discount).
Statuses
- Active: The subscription is live and will generate invoices.
- Past Due: The latest invoice failed payment. Service may continue for a grace period.
- Canceled: Billing has stopped. No further invoices will be generated.
Usage-Based Billing (Metered)
For products like "API Calls" or "Storage," usage is reset at the start of each period.
- Licensed: You bill for a fixed quantity (e.g., 5 Seats). The quantity persists until changed.
- Metered: You bill for consumption (e.g., 500 GB). The usage resets to 0 after every invoice.
Price Locking: Subscriptions lock in the price of the Product at the time of creation. If you change the Product's price later, existing subscriptions will not be affected. This protects you from accidental rate hikes for loyal customers.