Usage
Use the milestone billing method for fixed price contracts that specify when billing can occur. The customer is billed when a milestone is reached or completed.
Percent Complete Milestones
You can bill based on the percentage of completion. The percentage of completion is calculated based on the type of budget:
| For an amount budget: | % Complete | = | Activity cost amounts / total budgeted |
| For a unit budget: | % Complete | = | Activity cost units / total budgeted |
Milestone Status
The milestone status indicates whether the milestone is ready to be billed, has been billed, is open, or is on hold.
You can define the following milestone status types:
| Status | Description |
|---|---|
| (1) To Process | The milestone is to be included in the next billing calculation. |
| (2) Processed | The milestone has been billed. |
| (3) Hold | The milestone is on hold from billing. |