When you create a project in Beyond Software, you must specify a billing schedule type. Options include None, Date-Oriented (scheduled billing), Milestone Completion (progress billing), and Percent Complete (progress billing).
“None” is used for projects that do not require any scheduled billings and do not require progress billing, either Milestone Completion or Percent Complete.
Date-oriented scheduled billings enable you to bill a project in one or more increments over the life of the project, on specific dates that have been agreed upon by you and the customer. The billing schedule must be entered manually, including the amounts to be billed. You can choose from detail or summary formats when setting up the schedule. This billing method can be used for any contract type, including Fixed Price/Fixed Fee or Time and Expense.
Milestone Completion billing enables you to bill a customer when specific, agreed-upon project milestones are completed. These milestones are represented by all, or a subset, of the tasks defined for the project. Percent Complete billing enables you to bill in one or more increments as the overall progress of the project reaches certain agreed-upon points (or percentages) of completion. Progress billing does not require manual entry of a billing schedule or amounts; however, for milestone billing, you must specify the milestone tasks. Progress billing can be used for only Fixed Price contracts.
Note: In Beyond Software, recurring invoices apply to only vendor or customer invoices, not project invoices. When a project invoice is approved, a customer invoice is generated automatically.
Review these topics for project invoicing setup and process guidelines:
Invoicing Without Scheduled Billing