Overview:
Unit Price Billing is one of three options available for users to create AR Invoices in Penta. Unlike Lump Sum and T&M billing, however, the unit price method allows users to create AR Invoices by completing entering units completed , as opposed to simple lump sum amountsinto the system. This method involves charging units out at a pre-determined price. In PENTA, the process for billing via unit price is similar to billing via Lump Sum; the process starts in the Contract Completion screen and requires the user print and complete the invoice before posting to the General Ledger .
Benefits:
- Provides an accurate record of all financial transactions
- Aids in compiling key financial statements
- Provides the ability to authorize general ledger accounts for one, some, or all organizational units
- Provides subledger requirements and ensures the ledger is always in balance with the subledger details
Roles:
- Accounting Manager
- CFOAllows Users to bill out contracts without setting a pre- determined Lump Sum amount
- Allows users to bill out contracts without basing invoice amounts on Labor/Equipment Hours or Material Dollars.
Roles:
- Accounting Receivable Manager
- Accounting Receivable Clerk
- Project Manager
- Controller
Location:
- Billing and Accounts Receivable>Automated Invoice Processing> Contract Completion Billing Purposes
- Billing and Accounts Receivable>Automated Invoice Processing> Calculate Invoices
- Billing and Accounts Receivable>Automated Invoice Processing>Adjust Invoice Amounts
- Billing and Accounts Receivable>Automated Invoice Processing> Prepare Invoices For Printing
- Billing and Accounts Receivable>Automated Invoice Processing>Complete Invoices
Video:
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