Milestone billing of projects
You can bill for project work by milestones that you define with your customer. When each milestone is reached, your customer is billed for part of the total amount of the project work. You might define and bill by project milestones for services that involve multiple work orders and resources that are delivered over a long time.
Milestone billing setup and process
You bill for project milestones on customer agreement price schedules. For each milestone, specify that the price schedule applies to sales order objects. Then, enter the fixed fee amount for the milestone, and specify the schedule type as milestone.
When the customer agreement is approved, a sales order for each milestone schedule is created. After the sales order is created, the ranking value of the price schedule is set to 1, and the Condition field is filled with information about the linked sales order. This information overwrites any existing information in those fields, and the fields cannot be edited.
The new sales order has a status of waiting approval and the line price can be updated, for example, by a revised price schedule. When the sales order is approved, completed, or closed, the associated price schedule cannot be revised.
- Manual copy the sales order to the bill
- Set up automated billing for the price schedule and an escalation to bill the sales order. After you set up automated billing, the price schedule line is copied to a sales order. Set up an escalation that monitors conditions that indicate that the milestone is met and then sets the sales order to a billable status.
You can view information about all sales orders for a customer agreement in the View Sales Orders window. For example, you can view which milestones were billed and which milestones are pending billing.