Time and Expense Billing

[former_member614665]

Hello,

I need to understand in billing plan definition, When we chose Contract Type - Time and Expense - in item usage we get two option: Payment on account and Down Payment request.

I need to know the specific use of both.

Thanks & Regards.

[NikolaiE · Accepted solution]

Hello Mayur,

the Down Payment functionality is only available for country versions Germany, Austria, Switzerland.

Down payment requests...

▪ serve as security for liquidity

▪ are not equal to an invoice and can be issued without prior delivery of good or services

▪ are statistical noted items

The Feature brings new capabilities:

▪ Create a new item usage “Down Payment Request” in the bill plan of the customer project app for T&E contracts

▪ The down payment request is assigned to the WBS element (billing element) where the billing plan belongs to

▪ Down payments are reflected as payables against the customer account and do not have an impact on the financial result

▪ Tax is due when the down payment request is paid by the customer.

▪ The settlement of a down payment paid is triggered with any subsequent T&E invoice.

Payment on Account is a partial payment of an amount that is owed.

The customer is billed these fixed amounts independently of the activities and expenses delivered on the project.

Best regards,

Nikolai