You can use progress billing as an alternative way to invoice a project. In progress billing, you invoice the amount of work completed so far.
Before you can use progress billing, you must set the progress billing parameters on the Project Control Suite parameters.
In progress billing, you can apply retentions. You can set up and use retentions that are based on:
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Set progress billing parameters |
Project manager |
If you use progress billing, set the progress billing parameters. |
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Set up customer retention terms |
Project manager |
If you use retention terms that are based on the percentage of work complete, set up the customer retention terms. For more information, refer to Set up customer payment retention terms. |
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Set up progress amount retention terms |
Project manager |
If you use retention terms that are based on an invoiced amounts schedule, set up the progress amount retention terms. Example Retention schedule:
Retention calculation:
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Link retention terms to project contract |
Project manager |
When you create a project contract, you can set up the customer payment retention terms. Both the percentage-of-work-completed retention terms and the progress-amount retention terms are shown if you click the drop-down in the Customer payment retention terms field on the Project contract form. For more information, refer to Add customer retention terms to a project contract. |
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Set progress billing parameters |
Project manager |
If you use progress billing, set the progress billing parameters. |
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Set up customer retention terms |
Project manager |
If you use retention terms that are based on the percentage of work complete, set up the customer retention terms. For more information, refer to Set up customer payment retention terms. |
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Set up progress amount retention terms |
Project manager |
If you use retention terms that are based on an invoiced amounts schedule, set up the progress amount retention terms. Example Retention schedule:
Retention calculation:
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Link retention terms to project contract |
Project manager |
When you create a project contract, you can set up the customer payment retention terms. Both the percentage-of-work-completed retention terms and the progress-amount retention terms are shown if you click the drop-down in the Customer payment retention terms field on the Project contract form. For more information, refer to Add customer retention terms to a project contract. |
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Set progress billing parameters |
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Set up progress billing |
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