To manage the billing process for larger capital equipment jobs and/or projects with longer lead times, M2M ERP offers progress billing. With progress billing, you can divide a bill into separate increments and still be able to track the whole process, report and invoice. In addition, the progress billing feature allows you to:
- Generate needed cash flow without having to recognize revenue or perform work-arounds within the normal billing system.
- Choose how to bill customers based on periodic schedules, time and material usage or percentage complete.
- Select between unearned revenue and revenue accounts, based on company requirements.
- Indicate on a sales order which items will require progress billing.
- Process invoices as either earned or unearned revenue based on your accounting practices.