Service Excellence Continuing Investments for Billing and Revenue Management
For customers opted in to the Bill Transaction Creation on Cost Import feature, bill transactions are now automatically created for complex funding scenarios, such as when costs are funded by multiple contract lines or contracts. This continuing investment helps ensure that bill transactions provide a complete, real-time view of amounts to be billed.
Bill transactions are now created automatically when project costs are imported and:
- The project costs are funded by multiple contract lines within the same contract. A bill transaction is created against the contract line with the lowest line number. No error or warning is raised against the other contract lines.
- The project costs are funded by multiple contracts. If the project is associated with multiple contracts, bill transactions are created against contracts using the following precedence: contract billing sequence, contribution percent, contract number, and contract line number.
If the cumulative contribution percent across the contracts exceeds 100%, the bill transaction created against the last contract is assigned the remaining percentage, as project costs can't be billed above 100%.
For example, consider a cost reimbursable billing scenario where a project cost transaction for $100 is associated with four contracts (A, B, C, and D). The total contribution percent across the contracts is 140%. When bill transactions are created, the bill transaction against contract C is assigned a contribution percent of 30% (and not 60% as per the contract), as that's the remaining percent to be billed. The sum of the bill transactions is $100, and no bill transaction is created against contract D. The project cost transaction is marked as 100% billed (fully billed), and no error or warning is raised. The following tables demonstrate this scenario:
Project Costs
| Transaction Number | Amount |
|---|---|
| 10001234 | $100 |
Associated Contracts
| Contract | Billing Sequence | Contract Contribution Percent | Cumulative Contribution Percent |
|---|---|---|---|
| A | 1 | 20% | 20% |
| B | 2 | 50% | 70% |
| C | 3 | 60% | 130% |
| D | 4 | 10% | 140% |
Bill Transactions
| Transaction Number | Contract | Contribution Percent | Amount to Bill |
|---|---|---|---|
| 300000000000101 | A | 20% | $20 |
| 300000000000102 | B | 50% | $50 |
| 300000000000103 | C | 30% (100% - 50% - 20%) | $30 |
| Total | 100% | $100 |
The business benefits of these enhancements are:
- Reduction in manual effort to force the creation of bill transactions.
- Reduction of bill transactions created during invoice generation, improving the accuracy of reporting on amounts to be billed.
Steps to enable and configure
These enhancements are only applicable if the Bill Transaction Creation on Cost Import feature is enabled.
Key resources
The Release Readiness materials for the following previously released features may provide additional useful context:
- Bill Transaction Creation on Cost Import (23C)
- Redwood User Experience for Managing Unbilled Transactions (25B)
Access requirements
No new access requirements.