Socket offers a range of billing methods to suit your practice and client needs. Understanding the difference between them, and knowing which ones can be changed after a proposal is set up, will save you time and help avoid billing issues down the line.
All billing methods fall into one of two categories: Recurring or One-Off. This determines whether additional invoices will be generated in the future.
The Billing Methods
🔁 Recurring Billing Methods
Recurring invoices will continue to be generated until the client or proposal is marked as closed.
Monthly
An invoice is generated in the first month of the engagement, determined by the proposal's confirmed start date. This repeats every month going forward.
Best for: ongoing services where you want to spread the cost evenly across the year.
Quarterly – In Advance
An invoice is generated in the first month of the engagement, then every 3 months thereafter, based on the proposal's confirmed start date.
Best for: clients who prefer less frequent billing but still want invoices raised before the work begins.
Quarterly – On Completion
An invoice is generated when the work is completed each quarter. The service renews automatically and will appear in Work Management ready to be marked as completed.
Best for: project-based work that repeats quarterly, where you bill once the deliverable is done.
Annual – In Advance
An invoice is generated in the first month of the engagement, then every 12 months thereafter, based on the proposal's confirmed start date.
Best for: clients who prefer a single annual invoice raised at the start of the year.
Annual – On Completion
An invoice is generated when the work is completed each year. The service renews automatically and will appear in Work Management ready to be marked as completed.
Best for: annual services like year-end accounts, where you bill once the work is done.
1️⃣ One-Off Billing Methods
One-off invoices are generated once only and do not renew.
Once – In Advance
An invoice is generated on the 1st of the month when the client's confirmed start date falls, provided the start date is in a future month. This appears in your Billing Plan but will not renew.
Best for: a single upfront charge for a defined piece of work.
Once – On Completion
An invoice is generated when the work is completed. The service will appear in Work Management to be marked as completed. This will not renew.
Best for: ad-hoc or one-time work that you want to bill on delivery.
On Acceptance
An invoice is generated as soon as the proposal is accepted by the client. This should only be used in conjunction with a connected invoicing system such as Xero.
Best for: situations where payment is required immediately on sign-off.
Changing Billing Methods
What you can change
If a service is set to a recurring billing method, you can switch between recurring frequencies. For example, moving a client from monthly to annual, or quarterly to monthly. Socket will automatically recalculate the fee when you do this:
Monthly to Annual: Socket multiplies the monthly fee by 12
Annual to Monthly: Socket divides the annual fee by 12
Other frequency changes follow the same logic, scaling proportionally
You can make this change in two ways:
When creating the proposal - when selecting the service, click on the billing frequency thats set and choose a different one.
Via a renewal or adjustment proposal - when doing a renewal or adjustment this can be changed and will take effect on the adjustment or renewal date.
What you cannot change
If a service was set up as Once – In Advance, Once – On Completion, or On Acceptance, it is not possible to convert it to a recurring method such as monthly or annual. This is one of the most common sources of confusion in Socket. The option may appear editable, but the system does not support converting between one-off and recurring types.
💡 How to fix an incorrectly set billing method
Billing methods are set at the service level in your Pricing Menu, which can be found in Services & Pricing. To edit your pricing menu, refer to our Pricing Menu overview article.
Quick Reference
Billing Method | Type | Appears in | Renews? | Can switch to another recurring method? |
Monthly | Recurring | Billing Plan | ✅ Yes | ✅ Yes |
Quarterly – In Advance | Recurring | Billing Plan | ✅ Yes | ✅ Yes |
Quarterly – On Completion | Recurring | Work Management | ✅ Yes | ✅ Yes |
Annual – In Advance | Recurring | Billing Plan | ✅ Yes | ✅ Yes |
Annual – On Completion | Recurring | Work Management | ✅ Yes | ✅ Yes |
Once – In Advance | One-Off | Billing Plan | ❌ No | ❌ No |
Once – On Completion | One-Off | Work Management | ❌ No | ❌ No |
On Acceptance | One-Off | n/a | ❌ No | ❌ No |