How To Generate Revenue For Contracts With Percent Complete Revenue Method

Summary:

Currently in the process of setting up process for billable projects to generate revenue without billing/invoicing with percent complete revenue method. However, not sure of the last step mentioned below. We are not able to update project progress into contracts.

Content (please ensure you mask any confidential information):

Below are steps we followed.

1. Create project
2. Create Contract and setup Bill plan & Revenue plan. In the Revenue plan, choose, 'Percent Complete Revenue' as the revenue method and in the billing extension, set the calculation level at the Project level.
3. Associate the project to contract line and fund the project contract.