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Project Advance Billing Options

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


Project Advance Billing Options



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.



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