Default Billing Terms Setup Overview
Default billing terms can help you save time setting up billing terms for each new project.
You define default billing terms in . For example, if your company performs mostly time and materials projects, you can establish default billing terms that reflect your time and materials billing practices.
After you define default billing terms, when you set up billing terms for a new project on the Billing Terms form (in or in the Project Info Center by clicking Billing Terms on the toolbar), the form prefills with the default billing terms from Billing Configuration. You can change the prefilled billing terms as needed for a project.
When you define default billing terms, you cannot specify client name or address information or phase or task billing terms. These billing terms are defined on a project-by-project basis.
Changes made to in Default Billing Terms does not affect the billing terms of projects whose billing terms are already defined. Changes are used as default entries going forward for new projects that are created after the changes are made.