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Contract Completion - Billing Purposes

Owned by Kyle Niekamp
Last updated: 06 22, 2022 by Claire Aleman

Overview:

The Contract Completion Information – Billing Purposes window allows you to record the following completed work:

  • Percent complete for lump sum contract lines items.
  • Units complete for unit price contract line items.

PENTA uses these entries to calculate automated billings during customer invoicing.

Note: Do not confuse this window with the Contract Item Completion Entry window, which PENTA uses to recognize revenue. Billings and revenue recognition are independent processes in PENTA.

Benefits:

  • PENTA will automatically calculate lump sum and unit price billing amounts based on percent complete values from this window
  • Ability to enter amount of stored materials for AIA projects

Roles:

  • Project Manager
  • Billing Clerk

Additional Content:

  • N/A

Location:

  • Billing and Accounts Receivable>Automated Invoice Processing> Contract Completion - Billing Purposes

Video:

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Penta Technologies continuously strives to improve customer content, therefore, information is subject to change at any time.