Using Charge-Based Billing
Charge-Based Billing is the go-to project billing type in Project Management and SuiteProjectsthanks to the following key benefits.
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Billing rate cards help you meet industry standards, with rates set by Billing Class and effective dates to handle rate changes.
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Automation with billing caps makes sure not-to-exceed contracts are billed correctly.
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Straightforward charge management before invoicing lets you mark charges as on hold or as non-billable if needed.
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You can use multiple rules on the same project, so it’s flexible enough for complex billing contracts.
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You get better visibility with billing forecast reports based on Charge Rules and planned project activities.
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It’s required if you want to use Project Revenue Rules.
A billing charge is a unique record with a monetary value to be used for invoicing, forecasting, and reporting. A charge is non-GL impacting as a stand-alone record but will drive the amount on an invoice transaction resulting in a GL impact. There are two types of charges:
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Actual charges – used to bill customers on an invoice and for project billing reports. You can modify actual charges in Manage Pending Charges before being included on an invoice. Unbilled actual charges provide an understanding of WIP for a services organization before invoicing.
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Forecast charges – used to drive sales estimates and for project billing forecast reports. Forecast charges update projected amounts on sales transactions: Opportunities, Estimates, and Sales Orders. Drives projected billing forecast reports for visibility into expected billing.