Implementing Project Portfolio Management: From Organization Structure to Recognized Revenue · Module 15 · Project Billing: Formats, Events and Processing
Lab: close a billing period that reconciles
Lesson 162 of 198 · 2 min
An hour and a quarter, and it ends the way the phase has to end. Two invoice formats — a detailed and a summary — with the same costs shown under both. Event types for a milestone, a revenue event and a write-off. A billing cycle configured. Invoices generated for both Meridian contracts. One invoice reviewed and adjusted — with one line written off and one deferred, each with a written reason. Invoice approval workflow configured with escalation, exercised end to end. Invoices transferred to Receivables. Revenue recognized and accounted in final. The billing period closed. Then the tenth deliverable: A COMPLETED RECONCILIATION WORKING PAPER SHOWING UNBILLED AND UNEARNED AGREEING TO THE LEDGER. And a deliberate reconciliation break, diagnosed and resolved. Three of the five acceptance criteria are about explanation rather than configuration. Both invoice formats are readable BY A CLIENT. The write-off and the deferral each have a documented…
The full lesson is part of the course
The video, the complete written lesson and the module quiz are included in Implementing Project Portfolio Management: From Organization Structure to Recognized Revenue, with a certificate on completion and a fourteen-day refund window.
In this module: Module 15 · Project Billing: Formats, Events and Processing
- 1Invoice formats
- 2Event types
- 3Billing extensions
- 4Billing cycles and generation
- 5Invoice review and approval
- 6Transfer to Receivables
- 7Revenue recognition and accounting
- 8Billing period close and reconciliation
- 9What breaks
- 10Lab: close a billing period that reconciles