Creating and Invoicing a Milestone based on Unrelieved Cost and Percent Over Cost

This method for creating and invoicing a milestone is based on unrelieved (actual) cost and percent over the unrelieved cost.

  1. On the Projects form, specify these options for the project:.
    Status
    Specify Active.
    WIP Relief Method
    Specify Revenue Recognition.
    Milestone Cost Calculation Method
    Specify Unrelieved Cost.
    Milestone Revenue Calculation Method
    Specify % Over Milestone Cost.
  2. On the Invoicing tab, select Auto Nominate Invoice to automatically nominate invoice milestones for the current project.
  3. On the Process Project Milestones form, specify the project and click Process.
    Note: The project must have a net WIP amount.

    This activity calculates unrelieved WIP and revenue recognition amounts, creates revenue milestones for the amounts calculated, nominates them and posts them. Invoice milestones are also created and nominated if selected.

    You can run this activity by project or product code, or both.

Because you set the option to nominate the invoice for processing, the invoice is automatically processed.