Defining a progress payment request for a contract

  1. Create a contract in the Contracts (tpctm1100m000) session.
  2. Select the Progress Payment check box to enable the progress payment related fields for the contract.
  3. Specify the progress payment percentage. The percentage of cost for a contract that is considered for invoicing. The commonly used progress payment percentages range between 75-80%.
  4. Specify the progress liquidation percentage used for calculating the amount to settle the progress payment invoices.
  5. Specify the invoicing method and payment terms.
  6. Select the Billable Cost Report check box to print an additional report while creating the invoice.
  7. Create a CLIN. The progress payment data defined for the contract is defaulted to the Progress Payment Requests tab.
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