Cost Plus Job Billing

Overview:

Cost Plus Job Billing is one of three options available for users to create job AR Invoices using PENTA's automated invoice process. In this case, cost plus can be cost plus, time and materials, or some combination. Unlike Lump Sum and Unit Price invoicing, the cost plus method involves marking up or applying a billing rate to actual costs on the job. The cost plus invoicing process consists of the following steps:

Create Schedule of Values/Map Costs
Define Pricing Schedules (Standard or Job Specific)
Validate Costs have been posted for the billing period
Calculate Invoices
Prepare Invoices for Printing
Review Invoice/Support Schedules
Adjust Invoice Amounts
Complete Invoice Processing

Benefits:

With correct setup, the job billing process is automated, PENTA will automatically calculate the amount to bill by marking up costs according to the job's pricing schedules
Support Schedule reports can be generated to include with the invoice

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

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