Milestone billing schedules in NetSuite offer a structured approach to billing for project-based sales orders, enabling businesses to invoice clients as project milestones are achieved. This guide outlines the step-by-step process of marking milestones as completed and generating bills efficiently using milestone billing schedules.
1. Marking Project Milestones as Completed:
- Navigate to Lists > Relationships > Projects and open the relevant project record.
- On the Schedule subtab, locate the project task associated with the milestone.
- Click Edit next to the project task and select “Completed” from the Status dropdown menu.
- Save the project task to automatically mark the milestone on the billing schedule as Completed.
2. Marking Milestones without Linked Tasks as Completed:
- Access the project record from Lists > Relationships > Projects.
- Navigate to the Financial subtab and click Open next to the Billing Schedule field.
- Edit the billing schedule and select the milestone to mark.
- Check the Completed box to indicate that the milestone has been reached and can be billed.
- Save the changes to update the billing schedule.
3. Generating Bills:
- For bulk billing, go to Transactions > Sales > Bill Sales Orders and follow the bulk billing process.
- To generate an individual bill from a sales order, go to Transactions > Sales > Enter Sales Orders > List. Click View next to the order to be billed.
- Click “Next Bill” to open an invoice pre-filled with the relevant items and prices from the project record.
Important Considerations:
- Milestones cannot be billed until they are marked as complete, ensuring accurate invoicing.
- Milestone billing schedules streamline the billing process by aligning invoices with project progress.
Implementing milestone billing schedules in NetSuite simplifies the billing process for project-based sales orders. By following the outlined steps to mark milestones as completed and generate bills efficiently, businesses can ensure accurate and timely invoicing, enhancing client satisfaction and project management effectiveness. For further details on milestone billing and related processes, consult NetSuite documentation or reach out to customer support. Streamline your billing workflow today with milestone billing schedules in NetSuite.