Using progress invoicing

Progress 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. For example:

If 30% of the project is completed at the first installment, you send an invoice for 30% of the contract amount to the customer.
If progress is 100%, you can invoice the entire contract amount.

To use progress invoicing:

Set the Contract Type field to Fixed Price and Invoice Type field to Progress Invoice in the Contract Lines (tpctm1110m000) session.
Specify the element or 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 or activity). The sales value of an element or activity is the product of the sales price and quantity.
Specify the element progress in the Element Physical Progress (tpppc1550m000) session or the activity progress in the Activity Physical Progress (tpppc1560m000) session.
Evaluate and approve the progress specified for the respective elements or activities.
Generate installments using the Create Progress Invoice Installments (tppin1210m000) session based on the sales data for the elements, activities for the project, and the progress registered for the elements and activities.

Note: You can use the Progress Invoice Specifications (tppin1510m000) session to evaluate installment specifications.
Transfer the project data to Invoicing using the Transfer Transactions to Invoicing (tppin4200m000) session.

Note: You can use the Invoicing module to compose, print, and post the invoices to Accounts Receivable. The associated revenues are simultaneously processed in Project Accounting. The invoice number is displayed on the transaction when the revenues are posted.