How billing works

The Korint platform handles premium calculation, billing and payment collection for all of its live policies.

Invoice object

Invoices contain, but are not limited to:

The date of issuance
The period covered by the invoice
The list of invoiced items, with a detailed breakdown of fees and taxes for each item

See here for the API reference.

Invoice lifecycle

Invoices will automatically move through different statuses as part of the Korint platform’s processing. An invoice is generally linked to a payment, meaning an attempt to charge the customer. Find out more about payment statuses here Generally, the lifecycle will be as follows:

An invoice is always created in the DRAFTED status.
The invoice becomes ISSUED as soon as it is drafted. Once an invoice is issued, it appears in the customer’s list of invoices and a payment charge is attempted for that invoice.
Once a payment provider has picked up the charge attempt, the invoice becomes PAYMENT_IN_PROGRESS.
The invoice’s status will update depending on the payment provider’s updates about the payment processing. If the payment succeeds, the invoice becomes PAID. If the payment fails, the invoice becomes PAYMENT_FAILED. The invoice will also become PAYMENT_DISPUTED if the end customer opens a dispute on the payment. A payment failure or dispute can lead to further action: a failed or disputed invoice can be replaced by a new invoice, in which case the original moves to WRITTEN_OFF.
Optionally, at any time, you can change the status of an invoice to CANCELLED.

Some invoices might be negative, indicating that the customer should be reimbursed. In that case the statuses will be slightly different, find out more about refunds.

Invoice statuses

The following table describes all possible invoice statuses and their transitions:

Status	Description	Next Possible States
`DRAFTED`	Invoice created but not yet sent to customer	`ISSUED`, `CANCELLED`
`ISSUED`	Invoice sent to customer, awaiting payment	`PAYMENT_IN_PROGRESS`, `CANCELLED`
`PAYMENT_IN_PROGRESS`	Payment processing has started	`PAID`, `PAYMENT_FAILED`, `PAYMENT_DISPUTED`
`PAID`	Payment received	`PAYMENT_DISPUTED`, Terminal state
`PAYMENT_DISPUTED`	Payment disputed by end customer.	`WRITTEN_OFF`, Terminal state
`PAYMENT_FAILED`	Payment failed	`RECONCILED`, `WRITTEN_OFF`, Terminal state
`REFUND_IN_PROGRESS`	Refund invoice currently in progress.	`FINALIZED`, `PARTIALLY_FINALIZED`
`PARTIALLY_FINALIZED`	Only a partial reimbursement was completed.	Terminal state
`FINALIZED`	Invoice was reimbursed	Terminal state
`RECONCILED`	In the case of smart reimbursement, this invoice was taken into account in a reimbursement invoice.	Terminal state
`REFUND_NOT_HANDLED`	Refund could not be handled because of a payment provider limitation.	Terminal state
`WRITTEN_OFF`	Invoice was replaced by another one with added fees.	Terminal state
`CANCELLED`	Invoice cancelled manually	Terminal state

​Invoice object

​Invoice lifecycle

​Invoice statuses

Invoice object

Invoice lifecycle

Invoice statuses