An operations support system (200) and method for communication services that compiles exact usage data in real time. In one embodiment, a biling system for IP-based communications is disclosed. The system employs a server and associated technology to maintain the state of all active services as a function of time. The server solftware is providing the value of a parameter at any given moment in time by storing it as a function of current time. The server serves as the point of authority for current user information (201) during the session. At the end of the session the information is stored in a database (232, 332) for achival, query and batch processing. The method activates events according to predetermined business rules. The system is accomplished by predicting events that may occur in the future through maintenance of dynamic updated table of events (336) for future business.