Billing not only produces the types of standard billings commonly required by project-oriented organizations, it also provides the flexibility you need to create your own cost-based, hours-based, unit-based, or generic billings. With Billing you can do the following:
Print any billing with supporting schedules for labor or other costs.
Carry out standard billing computations and billings to the federal government, including 1443 progress payments.
Use retroactive and reversing bills for billing closeouts and re-bills.
Apply billing discounts by account, customer, or project.
Create FTP files to upload your invoices to the federal government's Wide Area Workflow (WAWF) system.
Billing integrates seamlessly with Projects, Accounts Receivable, Product Definition, and Sales Order Entry. In Costpoint modules found in the Projects folder, revenue can be recognized based on cost-based formulas, manual overrides, or on billed amounts, before or after retainage.
When you post bills, Billing automatically updates relevant information in the General Ledger, Accounts Receivable, and Billing History tables. Product billings use the item table and price catalogs found in Product Definition.