Billing and Revenue Management (MOSC)

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How to make an advance invoice & progress billing with adv & ret recovery in project billing

in Billing and Revenue Management (MOSC) 1 commentAnswered

Client is having a business scenario as below
Contract Amount= 12,000,000 AED

Advance= 30% of contract value

Retention = 10% of contract value

1st Invoice: Advance Invoice of 3,600,000 AED as per contract agreement

2nd Invoice: Progress Billing

Advance Recovery= 720,000 AED

Retention Recovery= 240,000 AED

Revenue =2,400,000 AED

Receivable= 1,440,000 AED

Retention Release
1,200,000 AED at last billing

how to achieve this in project billing in fusion

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