Advanced Agreement and Customer PO Balance Calculation

The agreement and customer PO functionality permits companies to track what's been billed against an agreed upon amount with their customer. For example, if a customer agrees to a $10,000 contract for a project, an agreement or customer PO can be created for the $10,000. As work is being performed and charges are generated by billing, the contract amount can then be drawn down based on charge amounts. As the project progresses, it is beneficial to see the remaining balance on the contract to ensure that the project is still on track.

Advanced balance calculations are available for agreements and customer POs. With this advanced calculation, users have the ability to configure charge stages indicating when charges should be deducted from the agreement or customer PO balance. Within a charge stage, users can choose to have the balance deducted for all charges, charges placed on an invoice, charges not on an invoice, or no charges. The agreement or customer PO balance will deduct the charge amount from the balance based on the rule selection on the charge stage. For example, if the rule for the "Write-Off" charge stage is set such that no charges placed in that charge stage should be deducted, any charge placed in that charge stage will never be deducted from the balance.

To enable this feature, contact SuiteProjects Pro Support.