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Understanding my invoice [V5]

Whenever you purchase a monday.com subscription, you will be able to find your invoices under the billing tab of your admin section. This article explains when you are getting charged, where to find your invoices and more!

Terminology

Let's go over a few terms you need to understand before reading this article:

Pro rated charge - the amount charged whenever you are adding users calculated from the day the user was added until the remaining time in your subscription.

Pro rated credit - the amount credited whenever you are removing users calculated from the day the user was removed until the remaining time in your subscription.

Billing cycle - The billing cycle varies whether you are on a monthly/yearly plan. During that cycle, we will take into consideration all users changes that have been made to your account.

  • On a monthly plan, your billing cycle will be every month since the day you've bought the plan. If you've bought a plan on January 10th, your billing cycle will be the 10th of each month. 
  • On a yearly plan, your billing cycle will be every 2nd of each month.  

Billing Statements - A billing statement is an email summary updating you on all changes that happened in your account. You can receive it daily or monthly according to your preferences. 

 

 

Where can I find my invoices?

To find your invoices, follow these steps:

Step 1

Click your Profile Picture (avatar) and select admin as below:

admin.png

 

Step 2

You will be able to find your invoices on the invoice tab of your billing section:

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You can view your invoice by clicking on the "view" button as shown above. This will open a new tab with your invoice.

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By clicking on "view full invoice" you will be able to see all the details of your transaction including the billing address, VAT and more. You can even download it as a PDF. 

Note: If any changes need to be made to your invoice, please reach out to us at [email protected]

 

 

When am I getting charged?

✏️  Rule 1 - If you are on a monthly plan you will be charged on the renewal date of your plan. This charge will also include any user changes made during the month.  

✏️ Rule 2  - If you make any user changes during a certain month in your yearly plan, you will be charged/credited for those changes on the 2nd of the following month.

✏️ Rule 3 -  If you change your plan's type, you will be charged on that date for that change. Your billing cycle date will be changed to that date as well. The charge will take into account your previous balance (credits/debits) as well as any user changes made. 

 

Understanding my invoices in depth 

Let's go over all different use cases to understand better:

 

🔎 I am on a monthly plan

⭐️ Let's say you are purchasing a monthly plan on March 23rd 1019. Your next charge date will be April 23rd 2019.

⭐️ On April 3rd 2019, you are adding a new user to your monday.com account. A pro rated charge will be charged to your account for that user. 

The pro rated charge is calculated from the day the user was added (from April 3rd) until the remaining time in your subscription (April 23rd). The credit will apply at the beginning of your next cycle: April 23rd 2019.

⭐️ This means that on April 23rd, you will be paying for the new month + for the new user you have added to your account. Your billing statement will look as below: 

12_blling_statements_charge.png

 

 

  

🔎 I am on a yearly plan and changed the amount of users

⭐️ You are purchasing a yearly plan on January 2nd 2019. You will be charged in one payment upfront for the year on that date. 

⭐️ Your next charge will be on January 2nd 2020.

⭐️ On March 22nd 2019, you are adding a new user to your account. You will be charged for that user on April 2nd 2019. The pro rated amount charged is calculated from the day the user was added until the remaining time in your subscription (calculated from March 22nd 2019 to January 2nd 2020).

2_end_of_month_-_march.png 

 

 

🔎 I have changed my plan's type

⭐️ Let's say you've started on a monthly plan 4 users on February 24th 2019. Your next billing charge will be therefore on March 24th 2019 (every 24th of each month). 

⭐️ On February 28th 2019, you have added one new user in your account. You will be charged for that new user on your next billing date: March 24th 2019.

⭐️ On March 3rd 2019, you have decided to upgrade your account from the monthly to the yearly plan. Therefore your new billing date will now be on March 3rd. 

⭐️ You will be charged on that date for the upgrade to the yearly plan. In addition, of this charge you will also receive 1 credit and 1 debit. 

  1. Debit for adding one user: You have added a user in your account. You were suppose to be charged for that user on March 24th 2019. Since you now have upgraded your plan, we are taking this charge into account (calculated from February 28th to March 24th).
  2. Credit for the remaining of the month: You have paid on February 24th 2019 for a full month until March 24th. Since you have upgraded your plan on March 3rd, you haven't used your full monthly plan. We will credit you the remaining balance (which is the remaining days from March 3rd to March 24th). 

 

⭐️ All these changes will reflect on your next invoice as below:

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How to keep track of my billing history? 

This article covers all you need to know about managing your billing! 😊

If you have any questions, feel free to contact us at [email protected], and our awesome support team will be more than happy to help you with this!