Milestone billing
You can implement a payment cycle that delivers billing deadlines by setting up billing milestones. It's an agreement that you can use to bill a client whenever content is created. After the Milestone template has been created, you can select Billing schedule items to function under Milestone billing.
Follow these steps to set up a milestone template:
Go to Subscription billing > Recurring contract billing > Setup > Milestone templates.
Select New.
Under Milestone template, select the desired name. Then, add a Description of the template.
Before you can start to use your Milestone functionality, you'll need to create a Billing schedule group. On the Billing schedule group page, specify Milestone as the item type and select the Milestone template that you want. Then, select the Item relation and Milestone template, which are located on the Item setup page (Subscription billing > Recurring contract billing > Setup > Items).
Select Allocation method. Options consist of Percentage, Variable amount, Equal amount, and Percent complete. The Total amount beneath the Allocation method is optional.
Select Add to add a line. After the line has been added, you can select the desired item number.
After you've added your new line, if you selected Percentage or Variable amount in the Allocation method, you'll need to specify the amount or allocation percentage for each line. If you selected Percentage, the Total percentage must equal 100.
Select Save.
To Delete a milestone template, select the desired lines that you want to remove from the template. After you've selected the lines that you want, select Delete. You'll be prompted to confirm the action. If you want to proceed, select Yes.
Create a billing schedule
After you've created your Milestone templates, Billing schedule groups, and Items, you can create a Billing schedule that allocates the Milestone functionality. To create a Billing schedule that implements the Milestone functionality, follow these steps.
Go to Subscription billing > Recurring contract billing > Active billing schedules. On the page, select New in the Action Pane.
After creating your new Billing schedule, select Add line under Billing schedule lines.
When your new line has been created, select your desired Item number and Item type to Milestone.
Note
To successfully implement Milestone as the item type, you'll need to have a Site and Warehouse selected. Go to Line details > Product > Storage dimensions.
To add invoices for the billing schedule, you'll need to update the end date for each Milestone event. You can do so on the Billing schedule lines under the End date. If you have multiple billing schedules, select Update completion date process.
After you've updated the End date, select Generate invoice.
Select View billing schedule.
Select Generate all.
After the invoice has been generated, scroll down to Billing schedule lines, and then select the View billing detail tab. This tab will show the invoice that has been generated.