PowerPM provides several applications for the creation and processing of bill transactions for the purpose of charging the Client for work performed. There are 2 types of bills, a Standard Bill which clears work-in-process (WIP) or a Progress Bill which offsets WIP.
Use Bill Entry to create new bill transactions and to create an invoice document to be sent to the client.
1. Access Bill Entry from the PowerPM launcher or from the Bill Entry item in the Bills menu.
2. Bill Entry Other Features
- History - Select this tab to view transaction data related to the current client
- WIP Review - Select this tab to hold or transfer WIP on this account
- Billing Review - Click the Billing Review button to review accounts that need to be billed
- Locate Bills - Click the Locate Bills button to find Bills that have been entered but not yet Posted
- Edit Text - Click the Edit Text button to create an Invoice document for the current Bill transaction
3. Bill Inquiry
Use Bill Inquiry to review bill transactions and to drilldown to WIP Cleared or Payments applied data associated with the bill. An invoice document may also be created or edited in this application.
Access Bill Inquiry from the PowerPM launcher or from the Bill Inquiry item in the Bills menu.
4. Statements & Finance Charges
Statements may be created to notify clients of outstanding amounts owed. If Finance Charges are to be assessed on unpaid balances, use the Generate Finance Charges application accessed through the Bills menu to assess these charges before printing statements. Finance Charge configuration is set in the Master Files application. The Statement Printing application can be used to generate Statement documents to be sent to Clients. Statement Printing is also accessed from the Bills menu.