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 tab;
Accepts, via the Misc Charges tab, miscellaneous charges for each bill such as freight or sales/VAT tax;
Can include applicable sales/VAT tax that is entered in the Misc Charges tab;
Is not updated by the Calculate Billings screen;
Is not deleted during the posting process;
Does not remove billable transactions from Open Billing Detail;
Cannot use the Reverse Billings feature for adjustments; and
Can be used with the Pay-When-Paid feature.
Updates only A/R history (Initialize A/R History screen) and G/L detail (AR_HDR_HS, GL_DETL, GL_POST_SUM, FS_SUM);
This screen contains an identification block, one table window, six tabs, and four subtasks, which can be used as follows:
The Identification block contains the project ID and name as well as summary of the bill information (including line subtotal, invoice amount due, retainage, unallocated value, and miscellaneous charges).
The Bill Details tab contains fields to enter customer ID, terms, purchase order number, invoice date, retainage method, due date, status, and transaction currency.
The Addresses tab contains fields to review and update the bill address and the remit to address. The default billing and remittance addresses will automatically display based on values entered in the Project Billing Information screen.
The Misc Charges tab contains fields to enter other charges, tax codes, and the tax exempt number.
The Report Options tab contains fields to select the columns for display on the bill and select data that will display in the header and footer of the bill.
The Summary Information tab displays the invoice totals in billing and functional currencies and retainage.
The Statement of Work tab contains a group box to enter a description of the work that was performed on the project.
The Exchange Rates subtask contains fields to select a transaction currency, rate group, rate date, and an option to freeze the exchange rate.
The Standard Text subtask contains a table to enter standard text codes to print in the footer of the bill.
The Customs Info subtask contains fields to enter the VAT tax code as well as header and line customs information.
The Currency Line Info subtask contains fields to review the lines of the bill in billing and functional currencies.
To enter invoices into this screen, you must first set up projects in the Project Billing Information screen (Projects\Maintain\Billing) screen with a billing formula of "Enter Bill Manually." The customer must already be set up in the Customers screen. Depending on your bill, you may need to set up one or more of the following items in the system before you use the Enter Milestone/Percent Complete Bills screen:
Enter the retainage percent, if applicable, in the Project Billing Information 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 Information tab if you are using the "TOTAL" Retainage method or in the Retainage Percentage field 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 Sales/Value Added Tax screen).
If you plan on using the Other Billing Charges feature, enter the codes for these billing lines in the Other Billing Charges screen (Projects\Configure\Billing).
If discounts are reflected on invoices, you must initialize the accounts receivable default accounts in the A/R Settings screen before posting these invoices.
What are the steps to using Milestone/Percent Complete Bills?
Use the following steps 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.
Use the Misc Charges tab to enter any miscellaneous charges to include on the bill.
Use the Exchange Rate subtask to change the transaction currency, if necessary.
Add lines of text in the Standard Text subtask, where appropriate, to provide greater billing detail for your customers.
What happens during the posting process?
Unlike the Enter Project Product Bills (Projects\Transactions\Billing) and Enter Customer Product Bills (Projects\Transactions\Billing) screens, the Enter Milestone/Percent Complete Bills screen updates billing information when the bills are posted.
During the Post Milestone/Percent Complete Bills process, the Current Amount Due field is added to the Previous Amount Billed field. Then the Current Amount Due field is zeroed out. When the next bill for a project is entered, the cumulative information from the previous bill displays in the Previous Amount Billed field.
|
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 field to the Previous Retainage Billed field. Then the Current Retainage Due field is zeroed out. When you enter the next bill for a project, the cumulative information from the previous bill displays in the Previous Retainage Billed field.
|
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 |
Use the fields in this block to identify the project that you want to bill. You can also review some summary billing information, including invoice due amount, retainage, unallocated value, and miscellaneous charges.
Project *
Enter, or use Lookup to select, the project being invoiced. The non-editable field to the right displays the project description.
This non-editable field displays the sum of the Current Amount Due field.
This non-editable field displays the sum of the total Retainage Amount fields for this bill.
This non-editable field displays the sum of the miscellaneous charges from the Misc Charges tab. Note that this field also displays any sales/VAT tax that may have been applied in the Misc Charges tab.
This non-editable field displays the result of adding the Line Subtotal and the Miscellaneous Charges, then subtracting the Retainage amount.
This field displays the result of subtracting the total Scheduled Value field from the total contract value/ceiling for this project.
You can enter ceilings and their value methods in the Total Ceilings screen in the Project User Flow (Projects\Maintain\Project). 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.
Use this pushbutton to recalculate the invoice.
Use this table window to enter the lines of the bill. The system automatically assigns line numbers as you add lines in the screen. Based on the Retainage code selected (either "TOTAL" or "LINE ITEM"), different fields will display in the table.
Line *
This non-editable field displays the line number for the various lines in the table window.
A subtotal line will print 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 field displays for both Retainage code selections, "LINE ITEM" and "TOTAL."
Enter, up to 60 alphanumeric characters, a description of 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 field displays for both Retainage code selections "LINE ITEM" and "TOTAL."
Enter the scheduled contract value amount for this billing line. This field displays for both Retainage code selections "LINE ITEM" and "TOTAL."
Enter the percent complete value for this billing line. This field displays 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 field recomputes to the new percent. Also, you can change the Amount Billable by changing the Percent Complete field.
This field displays for both Retainage code selections "LINE ITEM" and "TOTAL."
The retainage percentage for this line will display in this field. This percentage was entered in the Project Billing Information screen. You can edit this number, but any adjustment will change the Retainage Amount, Current Retainage Due, and Total Amount Due fields.
This field displays only for the Retainage code selection "LINE ITEM."
The retainage amount for this line will display in this field. This number is the product of the Amount Billable and the Retainage Percentage fields. You can edit this number, but any adjustments will change the Current Retainage Due and Retainage Percentage.
This field displays only for the Retainage code selection "LINE ITEM."
If you have posted a bill for this project, this field will display the amount previously billed. This field is editable and displays for both Retainage code selections "LINE ITEM" and "TOTAL."
This field will display any previously billed retainage amounts for this line. You can edit this field. This field displays only for the Retainage code selection "LINE ITEM."
This amount is the result of subtracting the Previous Amount Billed field from the Amount Billable amount. If you override this value, the Percent Complete and the Amount Billable fields will change.
This field displays 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 field can be edited, but the Retainage Amount and the Retainage Percentage fields will change.
This field displays only for the Retainage code selection "LINE ITEM."
This non-editable field contains the amount that is the result of subtracting the Current Retainage Due from the Current Amount Due.
This field displays only for the Retainage code selection "LINE ITEM."
Select this checkbox to print this billing line. Leave the checkbox unselected to suppress the printing of this billing line.
This field displays for both Retainage code selections "LINE ITEM" and "TOTAL."
Use this field to indicate 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 field displays for both Retainage code selections "LINE ITEM" and "TOTAL."
* A red asterisk denotes a required field.
Select this subtask link to open the Exchange Rates subtask, which contains fields to select a transaction currency, rate group, rate date, and an option to freeze the exchange rate.
Select this subtask link to open the Standard Text subtask, which contains a table to enter standard text codes to print in the footer of the bill.
Select this subtask link to open the Customs Info subtask, which contains fields to enter the VAT tax code as well as header and line customs information.
Select this subtask link to open the Currency Line Info subtask, which contains fields to review the lines of the bill in billing and functional currencies.
Changes to this screen update the following tables:
AR_DETL_HS (Accounts Receivable Detail History)
AR_HDR_HS (Accounts Receivable Header History)
FS_SUM (Financial Statement Summary)
GL_DETL (General Ledger Detail)
GL_POST_SUM (General Ledger Posting Summary)
MILESTONE_INVC_HDR (Milestone Invoice Header)
MILESTONE_HDR_HS (Milestone Header History)
MILESTONE_INVC_LN (Milestone Invoice Line)
MILESTONE_LN_HS (Milestone Line History)
PROJ_BILL_HS (Project Billing History)
PROJ_SUM (optional) (Project Summary)