Understanding Milestones

Milestone functionality in PeopleSoft Contracts enables you to associate billing and revenue recognition with reaching a milestone; upon reaching that milestone, Application Engine processing is triggered. You can use both PeopleSoft Contracts milestones and PeopleSoft Project Costing milestones. For PeopleSoft Contracts milestones, you set up generic milestone templates when structuring the PeopleSoft Contracts system. At the individual contract level, you create specific milestones for specific contracts.

This section discusses:

• Milestone conditions.

• Milestone statuses.

• Milestone methods.