A method and a system for providing event-driven billing that facilitates flexibility and customization for bill generation, payment scheduling, and account reconciliation in relation to consumer financial accounts are provided. The method includes: receiving, from a user, first information that relates to a schedule for generating the bill for the account; extracting, from the first information, at least one criterion for determining the schedule for generating the bill; determining the schedule based on the at least one criterion; and generating the bill based on the determined schedule.