Project Advance Billing Options
SummaryProject Advance Billing Options
I would like to see how advance billing is handled in Contracts.
Here is our scenario:
- Contract Amount: $1,000,000
- Advance Payment: $250,000
- 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.