Processing - Milestone Processing
With Fixed Price billing, you can set up task milestones to invoice the project for predetermined amounts when you complete certain tasks tied to milestones in the project. Note that the milestones can prevent a Scheduled Billing from being created if the milestone status is not completed.
Once a task is completed, you can then manually set the associated milestone to status of Finished. This allows you to post a payment (generate an invoice) with Scheduled Billings for the associated milestone.
Milestone Processing displays all milestones to which a user has access. Using this dashboard, you can complete, postpone, or cancel selected milestones for the projects to which you have access.
The Milestone Processing page displays:
Project No.: Specifies the project to be used for this milestone entry.
Task Code: Specifies the task code used for this milestone entry.
Customer No.: Specifies the number of the customer associated with this milestone entry.
Project Manager: Specifies the project manager of the project used for this milestone entry.
Date: Specifies the date used for this milestone entry.
Milestone No.: Specifies the milestone code used for the line item for this milestone entry.
Milestone Description: Specifies the description used for this milestone entry.
Creation Date: Specifies the date the milestone entry was created.
Modification date: Specifies the date the milestone entry was most recently modified.
Modified By: Specifies the user that most recently modified the milestone entry.
Postponed: Specifies if the milestone entry is postponed.
Postponed Date: Specifies the date the milestone entry was postponed.
Postponed By: Specifies the user that postponed the milestone entry.
Overall Completion %: Specifies the overall completion percentage based on user input or project actual/budget.
Comment: Specifies if there are comments for this milestone entry.
Allow Billing Before Completion: Specifies if related scheduled billings can be posted without this milestone entry needing to be finished.
On the ribbon, you have several options for milestone processing:
Complete Selected: Updates the selected milestones using today's date.
Postpone Selected: Updates the selected milestones as postponed using today's date.
Cancel Selected: Cancels the selected milestones using today's date.
Update Completion %: Updates the percent complete on selected milestones to the value you enter.
Calculate Completion %: Calculates the percent complete on selected milestones based on actual/budget and updates the milestone with the value.
For More Information
For more information on milestones see: Milestones