What is Milestone Billing?

Milestone is a type of billing that occurs only as certain milestones have been attained. Milestones are events or conditions that trigger the billing. For example, you can bill customers based on the number of days since the activity began, a specific date, a manual milestone you specify, or an activity percentage of completion. You define the milestones to be used and the amounts to be billed for each milestone. Milestones can be calculated automatically or manually.

You can define the following types of milestones.

Milestone Type Definition
Days Automatic The number of days since the activity start date
Date Automatic A specific date when billing should occur
% Complete Automatic The percentage of the activity that has been completed
Manual Manual A user-defined event