Bill Fee-Based Contracts by Billing Phase

For projects with fee-based contracts, you can set up fee billing phase terms to allow for partial billing of the total fee based on the amount of work completed.

Prerequisite: You must select the Enable Posting by Billing Phase option on the Fees tab of the Billing Terms form before you can bill a fee-based contract by billing phase.

To bill a project by billing phases, complete the following steps:

  1. From the Vision Navigation menu, click Billing > Billing Terms.
  2. On the Billing Terms form, click the Fees tab.
  3. Open the project that you want to bill using fee phases.
  4. In the Fee Method field, select one of the following options:
    • Percent Complete by Phase, as Percent of Fee.
    • Percent Complete by Phase, as Fixed Amount.
  5. Complete the information on the Fees tab. The options available depend on your selection in the Fee Method and Fee Basis fields. See the descriptions of the fields on the Fees tab for information about how selections in the Fee Method and Fee Basis fields affect options on the Fees tab.
  6. Click Insert on the Billing Phases grid to add a billing phase. You can also create a new fee phase by copying and modifying existing fee phase.
  7. Complete the information on the Billing Phases grid.
  8. Click Save.