Understanding the Completion of Milestone or Progress Billing Events

To generate an invoice for a milestone or progress billing line when you complete a milestone for a contract or to generate an invoice for a specified percentage of completion for the contract, you must specify the actual completion date for the milestone or progress billing event.

When you generate invoices, the system compares the cut-off date for the generation with the actual completion date. If the generation date is the same or later, the system processes the billing event for the milestone billing line. At this point in the billing process, you cannot change the billing amount.

When you generate an invoice for an event, the system updates the Billed Flag field on the Milestone Billing Line Revisions form or Progress Billing Line Revisions form to Y. The billing event is then protected and you can no longer change the information for the event.