Our system allows for percent complete and milestone completion progress billing. This section describes setup and process requirements for each type.
In addition to standard project accounting setup, the following settings are provided on the Project Policies screen, Main tab, to enable progress billing features. The settings are optional and should be selected only if you want to change the default behavior. See also the Progress Billing section of the Project Policies topic.
Enable Task Status at Billing: Used for milestone completion projects. Enables users to update task status during project invoicing, rather than only on the project record.
Enable % Complete Override at Billing: Used for percent complete projects. Enables users to specify invoice percent values during project invoicing.
Default to Reported % Complete at Billing: Used for percent complete projects. Causes the reported percent complete to be used for billing, rather than the computed percent complete.
These are the general processes for progress billing. Refer to the Project and Project Invoice topics for important step-by-step instructions and field descriptions.
On the Project screen, Main tab, specify required project information.
In Type, specify a billable project type. See Project Types.
In Contract Type, you must specify a type that has a revenue recognition method of either Fixed Price or Fixed Price Plus Expenses. See Contract Types.
Leave the Task Required check box selected.
On the Task tab, add the project tasks.
The Reported % Complete field for each task can be maintained by the project manager or another user who is responsible for updating project information.
The Computed % Complete is calculated as Total actual project task costs/Total budgeted project task expenses. This field is updated automatically as time and expenses are approved.
On the Budget tab, complete the budget information.
In Budget Detail, you must select one of the four task-based budget types: Project - Task, Project - Task - Bill Transaction Type, Project - Task - Project Account, or Project - Task - Resource. Otherwise, computed percent complete values will be displayed as 0.00%.
On the Billing Information tab, specify the required information.
If the contract type on the Main tab is set to Fixed Price, set the Billing Rates field to None since this type of contract does not use billing rates. If Fixed Price Plus Expenses is used, then set Billing Rates to a rate that represents reimbursable expenses only. See Billing Rate.
In Billing Schedule Type, you must select Percent Complete. The Billing Schedule grid is not used for percent complete progress billing.
Time and expenses are entered and approved for the project. These entries are used for computing the percent complete.
When it is time to create an invoice for the project, the Project Invoice screen is used. Header information is specified, including the invoice date, and then the Update Detail button is clicked.
The Progress Billing - Percent Complete pop-up window is displayed, where the user can view billing information. The source of the information is the Project screen, Task tab, Project Task grid. The This Invoice Amt field on the pop-up window can be specified if the option to override % complete at billing was enabled in Project Policies. This calculates the invoice amount for the row.
When the OK button is clicked, the billing information is added to the Detail area of the project invoice. The user can also add detail lines manually. The user selects the entries to include on the invoice.
Refer to Project Invoice for information about completing the invoice.
On the Project screen, Main tab, specify required project information.
In Type, specify a billable project type. See Project Types.
In Contract Type, you must specify a type that has a revenue recognition method of either Fixed Price or Fixed Price Plus Expenses. See Contract Types.
Leave the Task Required check box selected.
On the Task tab, add the project tasks.
The Reported % Complete field for each task can be maintained by the project manager or another user who is responsible for updating project information.
The Computed % Complete is calculated as Total actual project task costs/Total budgeted project task expenses. This field is updated automatically as time and expenses are approved.
On the Budget tab, complete the budget information.
In Budget Detail, you must select one of the four task-based budget types: Project - Task, Project - Task - Bill Transaction Type, Project - Task - Project Account, or Project - Task - Resource. Otherwise, computed percent complete values will be displayed as 0.00%.
On the Billing Information tab, specify the required information.
If the contract type on the Main tab is set to Fixed Price, set the Billing Rates field to None since this type of contract does not use billing rates. If Fixed Price Plus Expenses is used, then set Billing Rates to a rate that represents reimbursable expenses only.
In Billing Schedule Type, you must select Milestone Completion.
In the Billing Schedule grid, add milestone tasks for the project. You can add rows at any time. These tasks are validated against entries on the Task tab. You can have only one milestone task (with a status of Scheduled) for each entry on the Task tab, but you are not required to have a milestone task for every Task tab entry.
The % of Project is the percentage of the overall/total project’s work effort represented by the selected milestone. The % of Project column is defaulted to the Bill at Completion amount / budget’s Project Revenue - Revised Amt.
Bill at Completion is the amount to be billed when the selected milestone is completed.
Time and expenses are entered and approved for the project. These entries are used for computing the percent complete.
When it is time to create an invoice for the project, the Project Invoice screen is used. Header information is specified, including the invoice date, and then the Update Detail button is clicked.
The Progress Billing - Milestone pop-up window is displayed, where the user can view billing information. The source of the information is the Project screen, Billing Information tab, Billing Schedule grid. Task status can be updated here if this option was enabled in Project Policies.
When the OK button is clicked, the billing information for only completed tasks is added to the Detail area of the project invoice. The user can add detail lines manually. The user selects the entries to include on the invoice.
Refer to Project Invoice for information about completing the invoice.