Billback Law and Legal Definition
Billback is an accounting service that is used for cost recovery. With a billback system, the client or payee is charged a percentage of the total cost of equipment, services, and venues of which they have already used. Billback systems track usage from concert halls to toothpicks, add all the costs up, divide it all out, and calculates the price per usage by hour, minutes, seconds, pieces, visits, clicks, views etc. By tracking usage, running costs of certain equipments like copy machines and phones can be precisely attributed, and their initial costs may be recovered with more certainty. The return of investment can be calculated more accurately. This in turn assists in making future investment choices.
