Payment Schedule
The payment schedule is where users can setup the invoice forecast and can create new or review existing milestones.
NOTE: The invoice forecast setup within the Payment Schedule will update the forecast graph planned metric, on the project dashboard.
To navigate to the Payment Schedule:
Select the Finance tab top menu.
Select Payment Schedule.
Add the planned invoice amounts for each month to create the Invoice forecast.
The month's will appear automatically based on the start and end date duration for the project.
Existing milestones will be visible on the milestones listing and new milestones can be created at anytime.
If milestones have a planned date they will appear on the Milestone amounts on the Invoice forecast.
NOTE: If the milestone is missing a date it won't appear as an option on the milestone category for an invoice.
Incoming PO
Incoming POs are where the approved invoice values are created and stored.
NOTE: An incoming PO is required for creating an invoice.
To navigate to Incoming POs:
Select the Finance tab top menu.
Select Incoming PO.
To create a new IPO select Create Incoming Purchase Order
Complete the IPO creation form
On the IPO you can edit the form details at anytime.
Answer the Checklist:
Review the Checklist and toggle the Yes/No answer
Save Once complete
Add any comments if required and all actions will be logged through the audit trail.
Submit for Approval once ready
The status will change from Draft to Pending
Approve or Reject
The project manager can select whether to approve or reject the IPO. Approve will mean the value can be used for invoicing, Reject will block the IPO and a new one will need to be created.
You can also select Cancel Approval Request to make further changes to the IPO before submitting for approval again.
