Billing 101
Billing in Telecommunications is costly, complicated and dynamic. The legal requirements for telecom billing in conjunction with meeting the customers needs can be tricky on a good day and a nightmare on a bad day.
One major challenge with telecom billing is mapping your products to the correct tax category. A telephone sold in conjunction with service is mapped one way while a telephone sold separately is mapped differently. The difference is not in the calculation but in how revenue is reported on your 499 each quarter.
Having a proper telecommunication billing platform that stores the required books and record is essential to running a tight ship as a telecommunications provider. The single biggest mistake we see is when business leadership asks their accountant or attorney, with no telecom background, about the telecom billing, tax and regulatory requirements. The best analogy describing what happens when your accountant or lawyer are not telecom focused is, “Would you make an appointment with a psychiatrist if you had a broken leg?”
Telecom billing is so specific, most general accountants and attorneys are not
able to give you the proper guidance.
No information provided by Modas should in any way be considered legal or tax advice. You should contact an attorney or CPA for legal or tax advice.
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