to select, the project being invoiced.
The non-editable field to the right displays the project description.
Use this screen to manually enter milestone or percent complete bills. With this screen, you can bill a pre-determined percentage of the scheduled value when certain milestones have been reached for a project. For designated projects, even when a project is not fully complete, partial billing is allowed. You can use this screen to customize your bills to fit the requirements of your customers.
A milestone/percent complete bill:
Is a type of manual bill;
Is formatted for column selection in the Report Options subtask;
Accepts, via the Miscellaneous Charges subtask, miscellaneous charges for each bill such as freight or sales/VAT tax;
Can include applicable sales/VAT tax that is entered in the Miscellaneous Charges subtask;
Updates only A/R history (Maintain A/R History screen (Accounting » Accounts Receivable » Beginning Balances)) and G/L detail (AR_HDR_HS, GL_DETL, GL_POST_SUM, FS_SUM) (MILESTONE_INVC_HDR, MILESTONE_INVC_LN);
Is not updated by the Calculate Billings screen (Projects » Billing » Calculate Billings);
Does not update Billing History tables;
Is not deleted during the posting process;
Does not remove billable transactions from Open Billing Detail;
Cannot use Costpoint's Reverse Billings for adjustments; and
Can be used with Costpoint's Pay-When-Paid feature.
To prepare a milestone/percent complete bill, enter the scheduled value of the individual milestones, along with the percent complete and retainage percentages, on separate billing lines. The system will calculate the amount billable and, after subtracting previous amounts billed and adjusting for any retainage, the total amount due for each milestone. You can also include sales/VAT tax and miscellaneous charges on the bill. You can add lines of text, where appropriate, to provide greater billing detail for your customers. When printing your milestone bills, you can select up to five different columns of information to print on the bill. The column names and the order in which they are printed can be customized for each bill.
Unlike the Edit Project Product Bills screen (Projects » Billing » Edit Billings) and Edit Customer Product Bills screen (Projects » Billing » Edit Billings), the Edit Milestone/Percent Complete Bills screen (Projects » Billing » Edit Billings) does update billing information when the bills are posted. During the Post Milestone/Percent Complete Bills process (Projects » Billing » Post Billings), the Current Amt Due column is added to the Previous Amt Billed column. Then the Current Amt Due column is zeroed out. When the next bill for a project is entered, the cumulative information from the previous bill is displayed in the Previous Amt Billed column.
|
How Posting Affects Billing Balances |
Current Amount Due |
|
Previous Amount Billed |
|
Before Posting Bills |
80 |
|
60 |
|
During Posting |
80 |
Added to + |
60 |
|
Immediately After Posting Bills |
0 |
|
140 |
Also, during the Post Milestone/Percent Complete Bills process, the system adds the Current Retainage Due column to the Previous Retainage Billed column. Then the Current Retainage Due column is zeroed out. When you enter the next bill for a project, the cumulative information from the previous bill is displayed in the Previous Retainage Billed column.
|
How Posting Affects Retainage Balances |
Current Retainage Due |
|
Previous Retainage Billed |
|
Before Posting Bills |
90 |
|
40 |
|
During Posting |
90 |
Added to + |
40 |
|
Immediately After Posting Bills |
0 |
|
130 |
To enter invoices into this screen, you must first set up projects in the Project Billing Info screen (Projects » Billing » Billing Master or Projects » Project Setup » Revenue Setup) with a billing formula of "Enter Bill Manually." The customer must already be set up in the Maintain Customer screen (Accounting » Accounts Receivable » Customer Info). Depending on your bill, you may need to set up one or more of the following items in Costpoint before you use the Edit Milestone/Percent Complete Bills screen (Projects » Billing » Edit Billings):
Enter the retainage percent, if applicable, in the Project Billing Info screen. The retainage percentage can be edited at the line item level if the selected Retainage code for this project is Line Item. This is done in the Summary Info subtask if you are using the "Total" retainage method or in the retainage percentage column if you are using the Line Item method.
If sales/VAT tax is accrued on invoices, you must initialize the tax table with the applicable sales or value added tax rates (use the Maintain Sales/Value Added Tax screen (Others » System Administration » System Codes)).
If you plan on using the Other Charges feature, enter the codes for these billing lines in the Maintain Other Charges screen (Projects » Billing » Controls).
If discounts are reflected on invoices, you must initialize the accounts receivable default accounts in the A/R Settings screen (Accounting » Accounts Receivable » Controls) before posting these invoices.
Enter, or use to select, the project being invoiced.
The non-editable field to the right displays the project description.
Select the status of the invoice. A status of SELECTED indicates that this invoice will be selected for posting when invoices are posted in the Post Milestone/Percent Complete Bills screen (Projects » Billing » Post Billings). Unselected invoices are not posted.
When you have selected a project, the customer to be invoiced will default to this field from the Project Billing Info screen (Projects » Billing » Billing Master or Projects » Project Setup » Revenue Setup).
You can override this field by entering, or using to
select, a different customer. A customer is required for all project invoices.
The non-editable field to the right displays the customer name.
Using the drop-down list, select the terms of the invoice. The terms displayed are initialized in the Customer Terms screen (Accounting » Accounts Receivable » Customer Controls). The terms selected determine the due date of the invoice.
Using the drop-down list, select either TOTAL or LINE ITEM as the type of retainage for this invoice. If you use LINE ITEM retainage, you can accommodate different retainage percentages at each line item/phase.
The customer's purchase order number, if any, will default to this field from the Maintain Project Master screen (Projects » Project Setup » Project Master). This optional field is editable.
Enter the company-wide invoice number for this invoice. If you leave this column blank, the system will assign the invoice number when you save the screen.
Enter the invoice date or allow the system date to default into this column. This date is editable.
Enter the due date or allow the system date to default into this column. This field is editable.
Use this table window to enter the lines of the bill. The line numbers are filled in automatically as you add lines to this table. Based on the Retainage code selected, either TOTAL or LINE ITEM, different columns will be displayed.
This non-editable column displays the line number for the various lines in the table window. Note that a subtotal line will be printed on the bill wherever there is a T (Text) line type that follows a D (Detail) line type or a group of Detail lines. A line text type is a line that displays ONLY a description and line number; no other fields are completed for a text line. This subtotal line will include the amounts of all Detail lines since the last subtotal.
This column will display for both Retainage code selections, LINE ITEM and TOTAL.
Enter up to 60 alphanumeric characters to describe this billing line. You can enter a line that displays only a description, with no values, by entering in the description and proceeding to the next line. This is helpful for adding text, such as section headings, that further explains the bill.
This column will display for both Retainage code selections, LINE ITEM and TOTAL.
Enter the scheduled contract value amount for this billing line. This column will display for both Retainage code selections, LINE ITEM and TOTAL.
Enter the percent complete value for this billing line. This column will display for both Retainage code selections, LINE ITEM and TOTAL.
If you entered a value in the Percent Complete field, the system will calculate the Amount Billable by multiplying the Scheduled Value by the Percent Complete. If you override the Amount Billable, the Percent Complete column recomputes to the new percent. Also, you can change the Amount Billable by changing the Percent Complete field.
This column will display for both Retainage code selections, LINE ITEM and TOTAL.
The retainage percentage for this line will display in this column. This percentage was entered in the Project Billing Info screen (Projects » Billing » Billing Master or Projects » Project Setup » Revenue Setup). You can edit this number, but any adjustment will change the Retainage Amount, Current Retainage Due, and Total Amount Due columns.
This column will display for only the Retainage code selection LINE ITEM.
The retainage amount for this line will display in this column. This number is the product of the Amount Billable and the Retainage Percentage columns. You can edit this number, but any adjustments will change the Current Retainage Due and Retainage Percentage.
This column will display for only the Retainage code selection LINE ITEM.
If you have posted a bill for this project, this column will contain the amount previously billed. This column is editable. This column will display for both Retainage code selections, LINE ITEM and TOTAL.
This column will display any previously billed retainage amounts for this line. This column is editable. This column will display for only the Retainage code selection LINE ITEM.
This amount is the result of subtracting the Previous Amt Billed field from the Amount Billable amount. If you override this value, the Percent Complete and the Amount Billable fields will change.
This column will display for both Retainage code selections, LINE ITEM and TOTAL.
This amount is the result of subtracting the Previous Retainage Billed from the Retainage Amount. This column can be edited, but the Retainage Amount and the Retainage Percentage field will change.
This column will display for only the Retainage code selection LINE ITEM.
This amount is the result of subtracting the Current Retainage Due from the Current Amt Due. This field is not editable.
This column will display for only the Retainage code selection LINE ITEM.
Enter a Y (Yes) to print this billing line or N (No) to suppress it.
This column will display for both Retainage code selections, LINE ITEM and TOTAL.
This column indicates whether the line is a T (Text) line or a D (Detail) line. Text lines contain only information in the Description field. They are used to format and explain the bill. Detail lines contain values in all fields of the billing line. All lines are initially assigned a type of T. If any of the value fields are completed, the line will change to a "D" when the line is complete.
This column will display for both Retainage code selections, LINE ITEM and TOTAL.
Click this button to enter a Statement of Work subtask that can be printed on the bill.
Click this button to review and edit the bill address and remit to address.
Click this button to open the Miscellaneous Charges subtask, where you can enter sales or value added tax and miscellaneous charges. In addition, this subtask provides access to the Customs Info subtask, where you can enter data for customs and tariffs.
Click this button to open the Report Options subtask and format the columns on your bills. You can also select various bits of information to print in the header or footer of the bill.
Click this button to summarize the various columns of the bill to allow easy viewing of the current and cumulative amounts of the bill.
Click this button to open the Documentation Location subtask, which you can use to attach a file to a milestone/percent complete bill.
Use this button to enter standard text codes to be printed at the bottom of milestone/percent complete bills.
Click this button to access the Currency Line Info subtask, where you can view any selected invoice line in both the billing currency and your company's functional currency. In addition, you can view the exchange rate for the billing currency.
Click this button to open the Exchange Rates subtask and review or edit billing transactions that occur in a currency other than your company's functional currency.
The billing/transaction currency for this invoice displays in this non-editable field. To change this currency, use the Currency Line Info subtask. Only one currency is allowed for each invoice number.
This group box displays various totals of the current invoice.
This field displays the sum of the Current Amt Due column.
This field displays the sum of the total Retainage Amount for this bill.
This field displays the sum of the miscellaneous charges from the Miscellaneous Charges subtask. Note that this field also displays any sales/VAT tax that may have been applied in the Miscellaneous Charges subtask.
This field displays the result of adding the Line Subtotal and the Misc Charges, then subtracting the Retainage.
This field displays the result of subtracting the total Scheduled Value column from the total contract value/ceiling for this project. You can enter ceilings, and their value methods, in the Project Total Ceilings screen (Projects » Project Setup » Project Ceilings). The ceiling can be on either the Contract Value or the Funded Value method. The system will use the lower of the two values if ceilings exist on both values.
Changes to this screen update the following tables:
AR_DETL_HS
AR_HDR_HS
FS_SUM
GL_DETL
GL_POST_SUM
MILESTONE_INVC_HDR
MILESTONE_HDR_HS
MILESTONE_INVC_LN
MILESTONE_LN_HS
PROJ_BILL_HS
PROJ_SUM (optional)