Generating contract invoices by contract

Posting Date Selection Range, Through

Specify the posting beginning and through date to select the records. The posting date range is used exclusively for the transaction-based billing methods: Cost Reimbursement, Cost Plus, Time and Materials, or Rate Table. The expense transactions that are billed must have a posting date that is within the date range.

Transaction Through Date

Specify the transaction through date. If this field is blank, then all the transactions for the posting date range are selected.

Selection Group

Select a selection group. Selection group is the business class group that defines the transaction detail records to select for invoicing.

Funding Source Date

Specify the date used to determine valid funding sources, milestones, installments, advances, and retainers that are in effect.

• The installment or milestone must be in a To Process status.
• The installment or milestone date must be less than or equal to the funding source date.
• The funding sources must be valid for the funding source date.

Invoice Date

Specify the date to use for the invoice date. This list shows how the invoice date is used:

• For fees and event-based billing methods.
• To determine posting projects that are valid.
• The date is used on the invoice the tax system to calculate tax.
• For accounts receivables to determine the invoice due date.
• The journal transaction date for entries that are generated by the journalize invoices actions.

Append to Existing Invoice Group

This field is available if previous invoices are not journalized. You can create a new invoice or add the records to a previous invoice.

To create an invoice, this field must be blank.

To append a previous invoice, select the invoice group to add the records to.

If the original invoice run group was generated using a billing group, then use the same billing group to append to it.

Apply Retainers

Select this check box to apply open retainer invoices to the transactions that are selected for billing. If you apply open retainer invoices, the amount of the invoice is reduced by the amount of the retainer. The applied retainer shows as a negative amount. If the retainer amount is greater than the invoice amount, only the invoice amount is applied as the retainer creating a zero invoice. The balance of the retainer is available for future invoices.

Project

Select a summary or posting project level. All children for the summary level are included. If this field is blank, invoices are created for posting projects and children for the project contract level. The project applies only to expense transaction records.

Funding Source

Optionally, select a single funding source. Funding sources are used to create an invoice. When this field is selected, invoices are generated as if the selected funding source is the only active funding source. When the funding source is less than 100%, the percent is used to create the invoice and the expense is processed. Partial transactions are not created.

Invoice Maximum

Specify the maximum amount to bill for a transaction-based billing method. The maximum is spread across all funding sources that are invoiced. If expenses exceed the amount, then a partial transaction is invoiced.

Print Status

Select the print status for the invoice. This field is available if the Third Party Invoice Print check box is selected on the Finance Enterprise Group. This field can be updated if the invoice status is Created or Journalized. If the print status is Print, the third party generates an invoice.

Billing Group

If you select a billing group, the funding sources with the specified billing group are invoiced.

You can view the invoice in the Invoices tab.

When invoices are generated and the total credits and expenses are less than the retainer amount, a credit invoice is created. Use these steps to correct the credit invoice.