Description: This use case describes how to implement milestone-based billing for your organization.
Suppose you are a billing administrator of a company selling computer hardware and your client has placed an order for 1000 laptops. Your client has agreed to pay in 4 installments, each of 250 laptops.
To implement milestone based billing
- For a Quote/Proposal, Configure Products and add 1000 laptops to your cart.
- Finalize your cart.
- Click New Billing Plan from the related Billing Plan line item.
- Create billing plan with Plan Type as Milestone and Billing Method as Split Evenly. Enter Number of Installments as 4.
- Enter the expected date for all the billing plan line items.
- Accept the Quote/Proposal.
- Activate the Order.
- 4 Milestones are created
- 4 Billing Schedules are created with Fee Amount as $250 and Status as 'Pending Milestone'.
Next Step: When a milestone is achieved, edit the milestone and enter Actual Date. This changes the milestone status to Completed. The status of the billing schedules is changed to Pending Billing.