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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