How to Set Up Maxio: A Step-by-Step Guide

This guide will walk you through setting up Maxio for subscription billing, revenue recognition, invoicing, and financial reporting to help manage your business efficiently.

Step 1: Create a Maxio Account

1. Go to Maxio’s website
   • Visit Maxio and click "Get Started".
2. Enter Business Information
   • Provide your company name, email, and password.
   • Select your business type (SaaS, B2B subscriptions, professional services, etc.).
3. Verify Your Email
   • Check your inbox for a confirmation email from Maxio.
   • Click the link to activate your account and log in.

Step 2: Configure Business Settings

1. Set Your Business Currency
   • Go to Settings > Business Settings > Currency.
   • Choose your default currency (USD, EUR, GBP, etc.).
   • Enable multi-currency support if you have international customers.
2. Configure Tax Settings
   • Go to Settings > Taxes.
   • Enable automated tax calculations (VAT, GST, Sales Tax).
   • Connect with Avalara or Stripe Tax for global tax compliance.

Step 3: Set Up Subscription Plans & Pricing

1. Go to Billing > Subscription Plans.
2. Click "Create New Plan" and enter:
   • Plan Name (e.g., "Growth Plan").
   • Billing Frequency (monthly, yearly, usage-based).
   • Price per cycle (e.g., $99 per month).
   • Free Trial Period (if applicable).
   • Setup Fees (if any).
3. Click Save & Publish.
4. Add Add-ons & Discounts (Optional)
   • Go to Product Catalog > Add-ons & Coupons.
   • Create additional charges or promotional discounts.

Step 4: Integrate Payment Gateways

1. Go to Settings > Payment Gateways.
2. Select and connect a payment provider:
   • Stripe (recommended for global payments).
   • Authorize.Net, PayPal, Braintree, or Adyen.
3. Enable Payment Methods
   • Credit/Debit Cards
   • ACH Bank Transfers
   • Wire Payments (if applicable)
4. Test a Transaction to verify successful payments.

Step 5: Set Up Automated Invoicing & Revenue Recognition

1. Enable Automatic Invoicing
   • Go to Settings > Invoicing.
   • Choose invoice frequency and due dates.
   • Enable auto-email invoices to customers.
2. Enable Revenue Recognition (ASC 606 Compliance)
   • Go to Revenue Recognition > Accounting Settings.
   • Select recognition schedules (daily, monthly, quarterly).
   • Enable deferred revenue tracking for compliance.

Step 6: Set Up Dunning & Payment Recovery

1. Go to Settings > Dunning Management.
2. Configure failed payment handling:
   • Retry failed payments every 3-5 days.
   • Send automated reminder emails for overdue invoices.
   • Enable card expiration notifications.
3. Monitor Recovery Reports to reduce involuntary churn.

Step 7: Integrate Accounting & CRM Tools

1. Go to Settings > Integrations.
2. Connect Maxio with:
   • QuickBooks or Xero (for accounting automation).
   • NetSuite or Sage Intacct (for enterprise finance teams).
   • Salesforce or HubSpot (to sync customer subscriptions).
3. Configure automatic transaction sync for accurate financials.

Step 8: Configure Customer Self-Service Portal

1. Enable the Customer Portal
   • Go to Settings > Customer Portal.
   • Allow customers to view invoices, update billing, and change plans.
2. Customize Branding
   • Add your company logo and color scheme for consistency.
   • Configure email notifications for billing and renewals.

Step 9: Set Up Analytics & Revenue Reporting

1. Go to Reports > Subscription & Revenue Metrics.
2. Monitor key financial KPIs:
   • Monthly Recurring Revenue (MRR).
   • Churn Rate and Retention Metrics.
   • Revenue Forecasting and Growth Projections.
3. Set Up Automated Reports
   • Schedule weekly or monthly revenue reports for finance teams.

Step 10: Test & Deploy Your Subscription Billing System

1. Run a Test Subscription
   • Purchase a test plan using a dummy payment method.
   • Check for correct invoicing, tax calculations, and payment processing.
2. Verify Financial Reports
   • Ensure deferred revenue and MRR calculations are accurate.
3. Launch Live Billing System
   • Activate real customer subscriptions and track revenue.

Final Checks Before Full Deployment

✔ Confirm payment gateway integration and test transactions.
✔ Validate subscription upgrades, downgrades, and cancellations.
✔ Verify automated invoicing and tax settings.
✔ Enable dunning and payment recovery workflows.
✔ Monitor revenue analytics and compliance reports.