Billing Plan Events

To further manage and control the timing of billing for transactions that are associated with a contract line, you can define billing events in PeopleSoft Contracts. Billing events are points in time that you define that trigger billing. If you choose to use billing events, you will need to manage the status of those events before you run the billing application engine process. Two event types are available to choose from: Milestone or Date.

• Milestone

  You must first select the origin of the milestone (Contract or Project). The system will look to the application that you specify for the milestone and its status to mark the event as complete.

  If you choose to use this method for a PeopleSoft Grants contract, you must create and manage milestones on the Project Activity - Definition page. If you select the project activity to be a milestone activity, then you need to manage the status of that activity in PeopleSoft Project Costing.

  To ensure that all milestones are set to the correct status before billing occurs, run the Milestone Processing application engine (CA_MS_PRCS) before running the Billing application engine (CA_BI_INTFC) or the Revenue Recognition application engine processes (CA_LOAD_DEF, CA_LOAD_GL1, or PSA_ACCTGGL).

• Date

  Use the Date event type when you want billing for a specific amount to occur on a specific date. In this case you must enter the date that billing should occur and the percent or amount of the total amount for the lines that should be billed.