Defining Product Billing Milestones

Invoicing for product sales uses milestone invoices. All milestones are added and maintained separate from whether or not a maintenance schedule exists and whether or not a contract has been released for revenue.

To define product billing milestones

  1. Access Product Billing Milestones (BR54.1).
  2. Select the contract activity associated with the product contract for which you are defining milestones.
  3. Type or select the post to account category for the contract activity.
  4. Select the Inquire form action to retrieve any existing milestone information.
  5. Click the Days button to add days milestones for this contract on Days Product Billing Milestones (BR54.2). Use the following guidelines to enter field values:
    Milestone

    Type the identifier and description for the milestone you are creating.

    Days

    Type the number of days after the contract date that the milestone will be available for billing.

    Amount

    Type the amount to be invoiced when this milestone is reached. You must enter a value in either this field or the Percent field. The total amount of all milestones cannot be greater than the invoice net amount on the product header record.

    Percent

    Type the percent of the invoice net price for the contract that will be invoiced when this milestone is reached. You must enter a value either in this field, or in the Amount field. The total percent of all milestones cannot be greater than 100%.

    Sts (Status)

    This field identifies the status of the milestone. Valid values are:

    • 1=To Process (default)

    • 2=Processed

    • 3=Hold

    Due Date

    Type the due date for the invoice, and is passed to the Accounts Receivable (AR) application for use when the invoice is created. If this field is left blank, the due date is calculated using standard AR functionality. The Due Date is also used to determine which milestones are included on each invoice. All milestones with the same due date are grouped on the same invoice (for all milestone types).

    -or-

    Click the Date button to add date milestones for this contract on Date Product Billing Milestones (BR54.3). Use the following guidelines to enter field values:

    Milestone

    Type the identifier and description for the milestone you are creating.

    Date

    Type the date on which the milestone is available for billing.

    Amount

    Type the amount to be invoiced when this milestone is reached. You must enter a value in either this field or the Percent field. The total amount of all milestones cannot be greater than the invoice net amount on the product header record.

    Percent

    Type the percent of the total net price for the contract that will be invoiced when this milestone is reached. You must enter a value either in this field, or in the Amount field. The total percent of all milestones cannot be greater than 100%.

    Sts (Status)

    This field identifies the status of the milestone. Possible values are:

    • 1=To Process (default)

    • 2=Processed

    • 3=Hold

    Due Date

    Type the due date for the invoice, and is passed to the Accounts Receivable (AR) application for use when the invoice is created. If this field is left blank, the due date is calculated using standard AR functionality. The Due Date is also used to determine which milestones are included on each invoice. All milestones with the same due date are grouped on the same invoice (for all milestone types).

    -or-

    Click the Manual button to add manual milestones for this contract on Manual Product Billing Milestones (BR54.4). Use the following guidelines to enter field values:

    Milestone

    Type the identifier and description for the milestone you are creating.

    Amount

    Type the amount to be invoiced when this milestone is reached. You must enter a value in either this field or the Percent field. The total amount of all milestones cannot be greater than the invoice net amount on the product header record.

    Percent

    Type the percent of the total net price for the contract that will be invoiced when this milestone is reached. You must enter a value either in this field, or in the Amount field. The total percent of all milestones cannot be greater than 100%.

    Sts (Status)

    This field identifies the status of the milestone. Possible values are:

    • 1=To Process (default)

    • 2=Processed

    • 3=Hold

    Due Date

    This field identifies the due date for the invoice, and is passed to the Accounts Receivable (AR) application for use when the invoice is created. If this field is left blank, the due date is calculated using standard AR functionality. The Due Date is also used to determine which milestones are included on each invoice. All milestones with the same due date are grouped on the same invoice (for all milestone types).

  6. Select the Add form action to add the milestones for the product contract.