TABLE OF CONTENTS


Purpose:

B lab will now be invoicing all B Corps based on their Initial Certification Date. The initial certification invoice will indicate the month of which we will invoice companies moving forward. The customer renewal invoice date will be based on the month of when they were certified. We have separated Close date from Invoice date. In the past, these two dates were connected together but we have separated this connection. Close date is meant to be used as a forecasting tool based on when we *think* a customer might close their review. This will become more accurate over time as we adjust it for approach. The invoice date will be determined through internal logic such as the B Corp Agreement being signed and the review closing.


Date FieldDefinition
How does it get setWho can edit
Close Date (forecasting) 
When B lab Global thinks a company will complete their review process based on avg `overall calendar days` for intiial and renewal recert opportunities

When it's a
 renewal opportunity (the company has already become a B corp) we will use the date of when they were certified to determine the month of when the proposed close date will be. It will be the last day of that month.



Initial Certification
review open date + 270 days
270 days based off avg of overall calendar days by the approach of this and last year initial
Initial certification avg days

Renewal opportunities close date will always be end of the month of Date Certified (initial). 
System Generated initially
can be edited by Global Partners

Invoice Date
The invoice date is when a global partner and/or B Lab Global Finance will invoice a company.

For Initial certification, it's set when the b corp agreement is signed and moves to `ready for invoicing`
For any renewal invoices, after their initial certification fee, it will always be set to first of the month as the invoice date of the initial certification

The date when finance team member should send an invoice to a customer

Will always be set to the beginning of the month when
Name = b corp agreement
and
dsfs__Envelope_Status__c = completed

System Generated
Payment Terms
How many days a company is allowed to take to pay their certification fee invoice
pay on receipt
n30
n60
n90

Different defaults are based on review.approach
can be edited by Global Partners and BLG finance
Invoice Due Date
The date upon which a customer is supposed to pay by. Invoice date + payment terms

Not editable by users. Will be used to determine if customers are paying on time or not

Formula field based on Invoice Date + Payment Terms
System Generated
Actual Payment date
Date when the customer actually pays
Manually Entered by Finance team member
BLG Finance
Global Partners




Example: 

As described above the close date is based on the review.open_date. So based on when the review is open we will adjust the close date. In this case, the current rate from open to close is 270 days. So if the review is open on 9/30/2022 the close date is forecasted to 6/27/2023. 


When the B Corp Agreement is signed we automatically move the opportunity stage to `Ready for invoicing`. The invoice date is 5 days after the stage has been triggered to give finance teams some space. So if the B Corp agreement is signed on 6/10/2022, the invoice date will be 6/15/2022. The invoice due date is based on payment terms, 30 days in this case, so it’ll be 7/15/2022. 


B Lab Europe has legal implications, meaning that B Lab Europe’s Certification date will be when the stage moves to `Invoiced`. All other regions' certification date will be based on Actual payment date. So if a B corporation becomes certified on 7/14/2023, moving forward they will always be billed in month 7. Their Invoice Date will be the first of the month and the dependent on your payment terms (30, 60, 90) will indicate your Invoice Due Date.


type

Review Open Date

Stage

Close Date (forecasting)

Payment terms

Invoice Date

Invoice Due Date

Actual Payment date

Certification Date

Initial 

9/30/2022

opportunity.stage = ready for invoicing

6/27/2023

30

6/15/2022

7/15/2022

7/12/2023

7/14/2023

Renewal 1


opportunity.stage = future renewal

7/31/2024

30

7/1/2024

7/31/2024

7/3/2024


Renewal 2


opportunity.stage = future renewal

7/31/2025

30

7/1/2025

7/31/2025

7/16/2025


Renewal - recertification

11/13/2025

opportunity.stage = future renewal

7/31/2026

30

7/1/2026

7/31/2026

7/21/2026

7/13/2026