To use progress invoicingProgress Invoice is an invoice type similar to Installment. The installment amount depends on the project progress and the element or activity sales rates. Progress invoice specifications involve invoicing partial contract amounts at agreed intervals, for example, every four weeks. You can release this data to Invoicing. The fixed amount of all the installments is equal to the total contract price. If progress is 100%, you can invoice the entire contract amount. To use progress invoicing: Step 1. In the Contract Lines (tpctm1110m000) session, specify the invoice type:
Step 2. Specify the element/activity data in the Elements (tpptc1100m000) or Activities (tppss2100m000) sessions. This data is the basis for setting up installment specifications such as the sales unit, sales quantity, and sales price for to the project structure (element/activity). The sales value of an element or activity is the product of the sales price and quantity. Step 3. Specify the element progress in the Element Physical Progress (tpppc1550m000) session or the activity progress in the Activity Physical Progress (tpppc1560m000) session. Step 4. Using the Create Progress Invoice Installments (tppin1210m000) session, generate installments based on the sales data for the elements, activities for the project, and the progress registered for the elements and activities. Evaluate the generated installment data. To evaluate installment specifications, use the Progress Invoice Specifications (tppin1510m000) session. Step 5. Transfer the project data to Invoicing using the Transfer Transactions to Invoicing (tppin4200m000) session. In Invoicing:
The associated revenues are simultaneously processed in Project Accounting. The invoice number is displayed on the transaction when the revenues are posted.
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