Installment invoicing
You can use installment invoicing to generate and manage installments. These installments are partial invoice amounts that are sent to a business partner on completion of a milestone or an activity or the work related to an element. For example, if you agree to send two invoices, one invoice is sent during the project and the other on completion of the project. The installments are categorized into three types: points, percentages, and a fixed amount.
Example
Contract Amount: 100
| Installment | Type | Amount |
|---|---|---|
| Installment X | Fixed Amount | 25 |
| Installment Y | Percentage | 25 |
| Installment Z | Points | 25 |
The application allows you to link the project shipments to installments; in some projects, the business partner releases a shipment when an installment is paid. Installments can be set to approved for Invoicing:
- Manually
- Based on an event (completed milestone or activity)
- Based on a planned invoice date
A relevant installment schedule can be specified on the CLIN. You can define installment schedules in the Installment Schedules (tcmcs2140m000) session. You must specify an invoice date and a percentage to define a standard installment schedule.