diff --git a/app/dao/fact_billing_dao.py b/app/dao/fact_billing_dao.py
index 3375e0de6..67e33884e 100644
--- a/app/dao/fact_billing_dao.py
+++ b/app/dao/fact_billing_dao.py
@@ -64,53 +64,48 @@ def fetch_sms_free_allowance_remainder_until_date(end_date):
 
 
 def fetch_sms_billing_for_all_services(start_date, end_date):
+    # ASSUMPTION: start and end date are in the same financial year
+    financial_year = get_financial_year_for_datetime(get_london_midnight_in_utc(start_date))
 
     # ASSUMPTION: AnnualBilling has been populated for year.
-    allowance_left_at_start_date_query = fetch_sms_free_allowance_remainder_until_date(start_date).subquery()
+    ft_billing_subquery = query_sms_usage_for_year_per_service(financial_year).subquery()
 
-    sms_billable_units = func.sum(FactBilling.billable_units * FactBilling.rate_multiplier)
+    sms_billable_units = func.sum(func.coalesce(ft_billing_subquery.c.chargeable_units, 0))
 
     # subtract sms_billable_units units accrued since report's start date to get up-to-date
     # allowance remainder
-    sms_allowance_left = func.greatest(allowance_left_at_start_date_query.c.sms_remainder - sms_billable_units, 0)
-
-    # billable units here are for period between start date and end date only, so to see
-    # how many are chargeable, we need to see how much free allowance was used up in the
-    # period up until report's start date and then do a subtraction
-    chargeable_sms = func.greatest(sms_billable_units - allowance_left_at_start_date_query.c.sms_remainder, 0)
-    sms_cost = chargeable_sms * FactBilling.rate
+    sms_allowance_left = func.greatest(AnnualBilling.free_sms_fragment_limit - sms_billable_units, 0)
 
+    chargeable_sms = func.sum(ft_billing_subquery.c.charged_units)
+    sms_cost = func.sum(ft_billing_subquery.c.cost)
     query = db.session.query(
         Organisation.name.label('organisation_name'),
         Organisation.id.label('organisation_id'),
+
         Service.name.label("service_name"),
         Service.id.label("service_id"),
-        allowance_left_at_start_date_query.c.free_sms_fragment_limit,
-        FactBilling.rate.label('sms_rate'),
-        sms_allowance_left.label("sms_remainder"),
-        sms_billable_units.label('sms_billable_units'),
-        chargeable_sms.label("chargeable_billable_sms"),
-        sms_cost.label('sms_cost'),
+        AnnualBilling.free_sms_fragment_limit,
+        func.coalesce(sms_allowance_left, 0).label("sms_remainder"),
+        func.coalesce(sms_billable_units, 0).label('sms_billable_units'),
+        func.coalesce(chargeable_sms, 0).label("chargeable_billable_sms"),
+        func.coalesce(sms_cost, 0).label('sms_cost'),
     ).select_from(
         Service
-    ).outerjoin(
-        allowance_left_at_start_date_query, Service.id == allowance_left_at_start_date_query.c.service_id
     ).outerjoin(
         Service.organisation
-    ).join(
-        FactBilling, FactBilling.service_id == Service.id,
+    ).outerjoin(
+        AnnualBilling,
+        and_(Service.id == AnnualBilling.service_id, AnnualBilling.financial_year_start == financial_year)
+    ).outerjoin(
+        ft_billing_subquery, Service.id == ft_billing_subquery.c.service_id
     ).filter(
-        FactBilling.bst_date >= start_date,
-        FactBilling.bst_date <= end_date,
-        FactBilling.notification_type == SMS_TYPE,
+        Service.restricted.is_(False)
     ).group_by(
         Organisation.name,
         Organisation.id,
         Service.id,
         Service.name,
-        allowance_left_at_start_date_query.c.free_sms_fragment_limit,
-        allowance_left_at_start_date_query.c.sms_remainder,
-        FactBilling.rate,
+        AnnualBilling.free_sms_fragment_limit
     ).order_by(
         Organisation.name,
         Service.name
diff --git a/tests/app/dao/test_fact_billing_dao.py b/tests/app/dao/test_fact_billing_dao.py
index 04812316b..58e27ef39 100644
--- a/tests/app/dao/test_fact_billing_dao.py
+++ b/tests/app/dao/test_fact_billing_dao.py
@@ -672,8 +672,14 @@ def test_fetch_sms_billing_for_all_services_for_first_quarter(notify_db_session)
     create_ft_billing(template=template, bst_date=datetime(2019, 4, 20), billable_unit=44, rate=0.11)
     results = fetch_sms_billing_for_all_services(datetime(2019, 4, 1), datetime(2019, 5, 30))
     assert len(results) == 1
-    assert results[0] == (org.name, org.id, service.name, service.id, 25000, Decimal('0.11'), 24956, 44, 0,
-                          Decimal('0'))
+    assert results[0].organisation_name == org.name
+    assert results[0].organisation_id == org.id
+    assert results[0].service_name == service.name
+    assert results[0].service_id == service.id
+    assert results[0].free_sms_fragment_limit == 25000
+    assert results[0].sms_billable_units == 44
+    assert results[0].chargeable_billable_sms == 0
+    assert results[0].sms_cost == 0
 
 
 def test_fetch_sms_billing_for_all_services_with_remainder(notify_db_session):