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.
Progress bill helps to temporarily claim the revenue internally before the customer has approved the progress bill.
As a result, a fee journal is posted, which can be reversed when required for a financial impact.
Note
To apply progress billing to a (sub)project, on the related project quotation WBS, the Use progress billing check box must be selected for the related WBS project line.
Progress billing requires a scheduled unit, a forecast quantity, and a bid rate for each activity.
The sum of the progress amounts of all lines is the total progress amount to be invoiced.
Only one open/active progress bill can exist per root project.