We'd love to hear from you! Provide  feedback  to earn a badge today. Take our quick survey
You're almost there! Please answer a few more questions for access to the Applications content. Complete registration
Interested in joining? Complete your registration by providing Areas of Interest here. Register

Project Advance Billing Options

Received Response
32
Views
3
Comments
edited Nov 14, 2020 2:33PM in Project Management 3 comments

Summary

Project Advance Billing Options

Content

Hello,

I would like to see how advance billing is handled in Contracts.

Here is our scenario:

  1. Contract Amount: $1,000,000
  2. Advance Payment: $250,000
  3. After a project has spent $250K, then the billing quarterly on actual cost basis.

I understand that I can create an Event of $250K and create an invoice upfront. But how can we configure the system that will track the project spending of $250K without creating any additional invoice? And also, as soon as first $250K of costs have incurred, it switches to quarterly billing.

 

Thanks.

Howdy, Stranger!

Log In

To view full details, sign in.

Register

Don't have an account? Click here to get started!