This is the period of time at which invoices/statement are sent to customers. They will be charged for a period of time, not for every order or use. Example, your electricity bill can be on a monthly cycle or a quarterly cycle. They will charge you once a month or quarterly, not every time you switch the light on or use the internet.
Knowledge is the key to success. That is why we have gone to great lengths to get you these business terms and jargon, and explain them in Plain English. Its very easy to comprehend. Learn to understanding and know your business jargon. This will keep you informed among your peers. Bookmark Your business dictionary.