Billing process flow
Billing is comprised of these main
processes:
| Process | Description |
|---|---|
| Billing setup | To set up Billing, you must understand how your company and customers are structured, how payments are processed, and how the requirements are reported. The setup includes defining customers, terms, finance charges, process levels, and codes. See the Financials Setup and Administration Guide. |
| Invoicing | Invoicing takes you through the entire invoice process from creating and releasing invoices to updating invoice files withReceivables, Project Ledger, and Global Ledger. |
| Period Closing | Period closing closes the billing period. The best
business practice is to close the biling period before you close the
general ledger period. When you close the billing period, records that have not been updated to the global ledger are verified, such as invoices and returns. If any exist, then a report is created in Billing that indicates that records must be updated. |