Calculate Bills
The purpose of this topic is to provide detailed information on the process used to calculate billings and to present detailed analyses of all the billing formulas available in Costpoint.
There are many auxiliary issues regarding the initialization of billing information, and you need to clearly understand the Billing Format tables before we discuss the actual calculations performed. Therefore, we have divided this topic into the nine areas.
- Related Topics:
- Invoice Printing and Posting Level
One of the most fundamental decisions in the project billing process is determining the billing level. Some of the factors that should be considered when determining the billing level are the need for consistent billing formulas, and the effect of various contract values, retainages, ceilings, specific billing requirements, and task billing requirements. - Manage Project Billing Information Screen
The Manage Project Billing Information screen is the main screen for the initialization of project billing. Use this screen to choose a billing formula, confirm the customer for the project, select a billing format, identify the billing currency, and establish some controls over the billing for this project. - Manage ACRN Bills Screen
Use of the Manage ACRN Bills screen is not mandatory, but is beneficial to government contractors subject to Government Requirement, DFARS 204.71 Uniform Contract Line Item Numbering, specifically, standard payment instructions at PGI 204.7108(d)(1) through (6). - Manage Project iRAPT Information Screen
Invoicing, Receipt, Acceptance and Property Transfer (iRAPT) is a secure web-based system set up by the Department of Defense (DoD) for electronic invoicing, receipt, and acceptance. - Billing Header Records
Costpoint updates the Billing Edit Invoice Header table with a record for the billing level and all levels that have been identified on the Detail Levels subtask of the Manage Project Billing Information screen. - Updates to Billing Edit Detail Table
The posting programs update the Open Billing Detail for projects with transaction-based billing formulas. - Invoice Formats
When you initialize the Manage Project Billing Information screen, you must establish billing formats and link them to projects being invoiced. The calculate billings process uses these formats to summarize and format invoice line items. - Invoice Billing Formulas
When you add records to the Manage Project Billing Information screen, you must assign a billing formula to the record. Transaction-based formulas are those that include billings based on costs, loaded labor (T&M), or units. - Calculate ACRN Bills Screen
Use the Calculate ACRN Bills screen to calculate your ACRN bills, using information you have set up on the Manage ACRN Bills screen and the standard bill amounts from the Calculate Standard Bills screen.
Parent Topic: Billing Related Topics