In the area of project management, effective handling of sales orders and billing schedules is crucial for seamless financial transactions. There is a common issue where the Sales Order fails to update its billing schedule, resulting in inaccurate invoicing.
The main Challenge is when a user creates a Sales Order from a Project record, specifically using a Fixed Bid, Milestone billing type. However, despite setting up a detailed Fixed Bid, Milestone Billing Schedule, the Sales Order doesn’t reflect the new billing schedule on the Project record. Consequently, the system bills the entire amount instead of following the defined payment scheme.
It’s important to note that a Fixed Bid, Milestone billing schedule is designed to be private and exclusive to the project it is created for. Consequently, it cannot be readily selected as a list in the Billing Schedule field. Moreover, changes made to the billing schedule on the Project record apply prospectively, meaning existing transactions won’t automatically update.
Step-by-Step Resolution:
- Go to Lists > Relationships > Projects.
- Click ‘View’ on the specific Project record where the issue is identified.
- Click the ‘Related Records’ tab to access linked records.
- Under the ‘Transactions’ subtab, locate and click ‘Edit’ on the Sales Order associated with the Project.
- Clear the ‘Project’ field to temporarily dissociate it.
- Select a different ‘Customer’ and click anywhere in the Sales Order to confirm the change.
- Re-select the original ‘Customer’ and ‘Project.’
- Click ‘Save’ to apply the adjustments.
By following these systematic steps, you can overcome the challenge of billing schedule discrepancies in NetSuite Projects. This solution ensures that the Sales Order correctly aligns with the defined billing schedule on the Project record, resulting in accurate and transparent financial transactions. Remember that due to the private nature of Fixed Bid and milestone billing schedules, manual adjustments are sometimes necessary to maintain precision in your project financials.