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Implementing Project Portfolio Management: From Organization Structure to Recognized Revenue · Module 15 · Project Billing: Formats, Events and Processing

Billing cycles and generation

Lesson 156 of 198 · 13 min

Configure a billing cycle — monthly, on a specific day. Set the bill plan to use it. Run invoice generation for one contract, then for a set of contracts. Review the generated draft invoices. Show a contract that generated NOTHING, and diagnose why. Show the generation log. THE BILLING RUN IS A MONTHLY EVENT WITH A DEADLINE. Configure it to be repeatable and schedulable, because somebody will run it under time pressure. Generation produces drafts. Nothing goes to the customer without review. The diagnostic on a contract that produced nothing is the most useful thing in this lesson. Use the Module 14 sequence — six steps, in order.

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In this module: Module 15 · Project Billing: Formats, Events and Processing

  1. 1Invoice formats
  2. 2Event types
  3. 3Billing extensions
  4. 4Billing cycles and generation
  5. 5Invoice review and approval
  6. 6Transfer to Receivables
  7. 7Revenue recognition and accounting
  8. 8Billing period close and reconciliation
  9. 9What breaks
  10. 10Lab: close a billing period that reconciles