| # Using progress invoicing Progress Invoice is an invoice type that resembles the Installment type. The installment amount depends on the project's progress and the element's or activity's sales rates. Progress invoice specifications involve invoicing partial contract amounts at agreed intervals, for example, every four weeks. You can release this data to the Invoicing module. The fixed amount of all the installments equals the total contract price. If progress is 100%, you can invoice the entire contract amount. Progress invoicing process: Define the invoice type in the Projects (tppdm6100m000) session: In the Contract Type field, select Fixed Price Contract. In the Invoice Type field, select Progress Invoice. Enter the element/activity data in the Elements (tpptc1500m000) 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/activity). The sales value of an element or activity is the product of the sales price and quantity. Enter the element progress in the Element Physical Progress (tpppc1550m000) session or the activity progress in the Activity Physical Progress (tpppc1560m000) session. Generate installments based on the sales data for the elements and activities for the project and the progress registered for the elements and activities, using the Create Progress Invoice Installments (tppin1210m000) session. Evaluate the generated installment data. You can evaluate installment specifications in the Progress Invoice Specifications (tppin1510m000) session. Transfer the installment to Invoicing using the Transfer Transactions to Invoicing (tppin4200m000) session. In Invoicing you can complete the following tasks: Confirm future invoices. Check invoice headers. Compose, print, and post invoices to the Accounts Receivable module. The associated revenues are defaulted to Project Progress, for transaction processing. When the revenues are posted, the invoice number appears on the transaction. Related topics Invoicing |