Milestone Methods

A billing or revenue recognition event can be triggered in multiple ways. Sometimes, one way of triggering an event has advantages over another way. For example, when creating an event on a milestone billing plan or milestone revenue plan, you can use event type to designate that the event be triggered by either a Date or Milestone. If the date is a key date triggering both billing and revenue recognition, you can set up one milestone and reference it on both the billing plan and the revenue plan. This enables you to more efficiently manage these events: if the key date changes, you only need to update the date in one location.

Additionally, milestones enable you to solve more complex scenarios. For example, a contract may stipulate that you can either bill a customer 90 days after a product ships or upon completion of an installation, whichever comes first. For this scenario, you can define a milestone with two conditions: one condition of type Date and one condition of either type Milestone or User Initiated. Then you can specify that the milestone is complete once any of its milestone conditions are complete.