Billing schedules—Termed contracts

A termed contract has both start and end dates.

A billing schedule shows when a contract line's Flat/Fixed amount is expected to be invoiced during the contract term. It shows the scheduled billing date and amount to be billed for each potential invoice. For periods that have been invoiced, it shows the date the invoice posted, the exchange rate associated with the invoice date (if applicable), and the document number.

About billing schedules

A contract line will have a billing schedule in the following billing configuration scenarios:

Contract line billing configuration	How Flat/fixed amount is scheduled
When the Billing method = "Fixed price" AND the contract line does not use percent complete billing templates OR When the Billing method = "Quantity-based" AND the Quantity type = "Variable"	Intacct schedules the entire flat/fixed amount according to the selected Flat/fixed amount frequency and applicable dates when you save the contract line. See How the Flat/fixed amount frequency affects the billing schedule.
When the Billing method = "Fixed price" AND the contract line uses a percent complete billing template	Intacct schedules the applicable billing amount when a user runs Preview in the Generate Invoices page as of a particular date and there is a valid percentage of completion value. It schedules the applicable percentage of the flat/fixed amount to bill on the date used as the preview as of date.
When the Billing method = "Quantity-based" AND the Quantity type = "Committed"	Intacct schedules the applicable billing amount when a usage record is added. It schedules the applicable portion of the flat/fixed amount to bill on the usage date (usage quantity x committed rate).
When the Billing method = "Project time"	Intacct does not schedule any billing amounts. When you invoice a project time contract line, Intacct displays the billed amount with the associated invoice reference link on the billing schedule.

How the Flat/fixed amount frequency affects the billing schedule

This section is only applicable for contract lines where

• the Billing method = "Fixed price" AND the contract line does not use percent complete billing templates, OR
• the Billing method = "Quantity-based" AND the Quantity type = "Variable"

Sage Intacct automatically generates the billing schedule for an In progress contract line when you save the contract line. It bases the billing schedule on the contract line's Flat/Fixed amount frequency option and applicable dates.

Usually, the billing schedule starts on the applicable internal billing schedule start date Either the billing template start date or the contract line start date minus any bill-in-advance period. However, if the contract line's GL posting date is different than the internal billing schedule start date, the billing schedule may default to start on the GL posting date. See How the contract line GL posting date affects the billing schedule for details.

Flat/Fixed amount frequency	Billing schedule
One-time	The billing schedule has one scheduled billing amount equal to the Flat/Fixed amount. The contract line start date minus any bill in advance period drives the scheduled billing date, except in specific scenarios where the GL posting date is a different date.
Include with every invoice	Intacct uses the contract line's Billing frequency setting, the contract line start date minus any bill in advance period, and the contract line end date minus any bill-in-advance period to determine the billing schedule. For example, say the Billing frequency = Monthly , the contract line start and end dates are Jan 01 - Dec 31 in the same year, and the Flat/Fixed amount = 1,200.00. The billing schedule will have 12 scheduled billing amounts of 1,200.00 and the total billing schedule value will be 14,400.00. If your contract line start and end dates span results in a partial period, the system will either schedule a full period amount for the partial period or prorate the Flat/Fixed amount for the partial period, depending on the Prorate partial period setting.
Use billing template	The billing template drives the number of billing periods, when the periods occur during the billing term, and the percentage of the Flat/Fixed amount to bill on each date. The billing template start and end dates determine the billing term. In certain scenarios where the GL posting date is different than the billing template start date, the billing schedule may start on the GL posting date.

Bill-in-advance billing schedules

The bill-in-advance feature automatically creates billing schedules that start before a contract line starts, allowing you to get your invoices out earlier. When using bill-in-advance, a contract line's billing schedule automatically defaults as follows:

• Starts on the contract line start date minus the bill-in-advance period
• Ends on the contract line end date minus the bill-in-advance period. If the contract line start and end date span a whole number of months, Intacct adds the number of months to the bill-in-advance start day minus 1 day.

The billing schedule must start on or after the default billing start date, except in specific scenarios where the GL posting date is a different date. See How the contract line GL posting date affects billing schedules for details.

Learn more about billing in advance of a contract's start date.

How the contract line GL posting date affects billing schedules

The general rule is that the billing schedule must start on or after the GL posting date. Usually, the contract line GL posting date will be the same date as the internal billing schedule start date and so doesn’t appear to impact the billing schedule. However, in certain situations such as when contract negotiations don't conclude until after a contract line starts operationally or when the bill-in-advance date occurs in a closed period, you may need to set the GL posting date to a different date.

When the GL posting date is earlier or later than the internal billing schedule start date, the billing schedule may be affected.

When the GL posting date is earlier than the internal billing schedule start date

How Intacct schedules the first billing amount when the GL posting date is earlier than the contract line start date or billing template start date depends on which Billing schedules option is selected in the Configure Contracts page. Options are:

• Do not change the default billing schedule: The billing schedule will start on the internal billing schedule start date. For example, if the GL posting date is 05/01/2023 and the internal billing schedule start date is 07/01/2023, the billing schedule will start on 07/01/2023.
• Update the first schedule entry to post on the GL posting date: The first entry in the billing schedule will be scheduled to post on the GL posting date. Each subsequent entry will be scheduled as per the billing schedule generation rules. If the GL posting date is 05/01/2023 and the internal billing schedule start date is 07/01/2023, the first entry will be scheduled to post on 05/01/2023.

When the GL posting date is after the internal billing schedule start date

Intacct schedules the first billing schedule amount to post on the GL posting date. If the scheduled dates for any subsequent billing amounts occur prior to the GL posting date, Intacct also schedules those billing amounts to post on the GL posting date. It then schedules the remainder of the billing amounts to be posted on their applicable scheduled posting dates.

View a billing schedule

Do one of the following:

• Go to Contracts > All > Billing > Generate invoices, enter the applicable filter criteria, select Preview, then select the link in the Amount column for the desired billing line.
• Open the applicable contract, select the contract line item, select Show Details, and select View Schedule in the Billing section.

Change scheduled billing amounts

Changing the scheduled billing amount depends on how the contract line is set up for billing.

Change billing schedule amount for fixed price or variable quantity contract lines:

You can change the billing amount for rows on the billing schedule that haven't been billed. If you change the amount for a row, ensure that the sum of the scheduled amounts equals the total schedule amount.

If you want to change the total billing schedule amount, update the Flat/Fixed amount on the contract line. You can edit this amount if the contract line hasn't been billed, had revenue recognized for it, and isn't participating in an MEA.

To change a billing schedule amount for fixed price or variable quantity contract lines:

1. In the Billing Schedule window, select Edit.
2. Select in the Amount column next to the desired entry, enter the new amount, and then do one of the following:
   • Change the Amount field for additional entries until the sum of the entries equals the Scheduled amount.
   • Add one or more rows to the schedule so that the sum of the entries equals the Scheduled amount. See Adding a row the billing schedule.
3. Select Save.

   If the total of the scheduled billing amounts doesn't equal the Total schedule amount, an error message appears. Select Back, fix the applicable amounts, and select Save again.

   If you accessed the billing schedule from Generate Contract Invoices, select Preview again to see any schedule changes in the filtered results.

Change billing schedule amounts for committed quantity contract lines

To change billing schedule amounts for committed quantity contract lines, edit the applicable usage records.

Change billing schedules amounts for percent complete billing

1. Edit the applicable source for the percentage of completion (for example, timesheet hours).
2. Run Preview in the Generate Invoices page as of the applicable date.

Change scheduled billing dates

A billing schedule shows you the scheduled billing dates for a contract line. You determine the actual billing date when you generate the invoice. When you generate invoices, you can enter any desired Invoice and GL post date for the invoice, which becomes the Actual posting date.

If you decide you want to change the scheduled billing dates to align more closely with your invoice process, you can edit the billing dates for rows on the billing schedule that have not been billed.

For billing schedules based on percent complete billing templates, project time contract lines, or committed quantity contract lines, set the invoice date and GL posting date when you run Preview from the Generate Invoices page.

If the contract line is canceled and there is open billing scheduled prior to the cancellation date, use a scheduled posting date that is on or before the cancellation date.

To change the billing dates in a billing schedule:

1. In the Billing Schedule window, select Edit.
2. Select in the Billing Date column next to the desired entry and either enter a new date or use the calendar tool to select a date.
3. Select Save.

   If none of the scheduled billing has a billing date before the contract start date, the system saves the schedule.

   If you accessed the billing schedule from Generate Contract Invoices, select Preview again to see any schedule changes in the filtered results.

Set the billing day for a billing schedule

You can set up the billing schedule to bill on a particular day of the month for days numbered 1 - 28.

If the GL posting date is different than the internal billing schedule start date, one or more billing schedule dates may be affected. See How the contract line GL posting date affects billing schedules.

You cannot set the billing day for schedules based on a percent complete billing template, a project time contract line, or a committed quantity contract line.

To set the billing day for a billing schedule:

1. Open the desired contract line in Edit mode.
2. Do one of the following:
   • If the Flat/Fixed amount frequency = "Use billing template" — set the desired day number in the Billing template start date field.
   • If the Flat/Fixed amount frequency = "Include with every invoice" — set the desired day number in the Contract line start date field.

   For example, to bill on the 15th of every month starting April 15, 2023, set the applicable start date to April 15, 2023.

3. Save the contract line.

Add a row to the billing schedule

Adding a row to the billing schedule adds another scheduled invoice event. You can add one or more rows to the billing schedule if desired. Ensure that the sum of the scheduled billing equals the total schedule amount.

You can't add a row to a billing schedule based on a percent complete billing template, a project time contract line, or a committed quantity contract line.

To add a row to the billing schedule:

1. In the Billing Schedule window, select Edit.

   A plus sign and trash can icon appear at the end of each row that hasn’t been billed.

2. Select the plus sign in the row above which you want the new row to be inserted. For example, if you want to insert the new row at the end of the schedule, select the plus sign next to the last row.

   A new row appears.

3. Enter the Billing date and Amount to be billed in the applicable fields.
4. Adjust the remaining rows so that the sum of the amounts equals the total schedule amount.
5. Select Save.

   If the total of the scheduled billing amounts doesn't equal the Total schedule amount, an error message appears. Select Back, fix the applicable amounts, and select Save again.

   If you accessed the billing schedule from Generate Contract Invoices, select Preview again to see any schedule changes in the filtered results.

Delete a row from the billing schedule

Note the following about deleting rows from the billing schedule:

• For Fixed price and Quantity-based - Variable with flat/fixed amount contract lines: The billing schedule must contain at least one row. Intacct displays an error if you try to delete all billing schedule rows.
• The sum of the scheduled billing must equal the total schedule amount.
• You cannot delete a row with a posted entry. If you want to delete an invoice, see Delete or reverse the effects of a contract invoice for more information.
• You cannot delete a row from a billing schedule based on a percent complete billing template, a project time contract line, or a committed quantity contract line.
• You cannot delete all rows from a billing schedule. A billing schedule requires at least one billing schedule entry. Even if the amount is 0.00, you cannot delete the only billing schedule entry.

To delete a row from the billing schedule:

1. In the Billing Schedule window, select Edit.

   A plus sign and trash can icon appear at the end of each row that hasn’t billed.

2. Select the trash can icon in the row that you want to delete.

   The row is deleted.

3. Adjust the remaining rows so that the sum of the amounts equals the total schedule amount.

4. Select Save. If the scheduled billing amounts don't equal the total schedule amount, an error message appears. Select Back, fix the applicable amounts, and select Save again.

   If you accessed the billing schedule from Generate Contract Invoices, select Preview again to see any schedule changes in the filtered results.

View billing renewal forecast data

Intacct creates a renewal forecast schedule for up to 60 months from the current date for contract lines that are set up to renew. You can create reports to see the renewal forecast data using Interactive Visual Explorer, Interactive Custom Report Writer, or Custom Report Writer.

When building a renewal forecast report for billing data, use the Contract Billing Schedule Entry object as the primary data source. Then make sure to include the Schedules status field from the related Contract Billing Schedule object and the Period value from the related Contract Line object.

Field descriptions

Billing schedules field descriptions

Field	Description
Contract	The contract ID associated with the billing schedule. Select the link to display the contract.
Template	The name of the billing template used by the schedule. Select the link to display the billing template definition. This field is blank if the schedule was not generated using a billing template.
Amount	The total schedule amount to bill for the contract line. For Project time contract lines only: Displays the total estimated transaction amount. If Revalue estimation was executed on the contract line, this field still shows the original estimated transaction amount. The total amount actually invoiced is displayed in the Total Actual amount column in the grid.
Base amount	The total schedule amount expressed in your company's base currency. This field is only applicable to multi-currency companies.
Schedule status	Displays one of the following: Draft: billing amounts for this schedule cannot be invoiced until the contract line is posted. In progress: billing amounts for this schedule are available to invoice. Completed: all billing amounts for this scheduled have been invoiced. On hold: billing amounts for this schedule can't be invoiced until the billing schedule is resumed. This status is only applicable to termed contracts. Learn how to resume a billing schedule Terminated: the associated contract line was canceled. Learn more about canceled contracts. Estimate revalued: the Revalue estimation function was used to either close out or revise the remaining Unbilled balances for the project. This status is only applicable to Project time contract lines. Learn more about the Revalue estimation function.
Cancellation date	Displays the cancellation date if the billing schedule was canceled.
Contract line no.	Displays the contract line number with which the billing schedule is associated.
Contract line GL posting date	Displays the GL posting date from the contract line.
Start date	Displays the billing schedule start date. This date reflects the internal billing schedule start date, which is either the billing template start date or the contract line start date minus any bill-in-advance period.
End date	Displays the billing schedule end date.
Hold date	The effective date selected when the billing schedule was placed on hold. This date only appears when a schedule is on Hold. Use the audit trail on the Contract line to view hold details.
Project	The project associated with the contract line.
Task	The task associated with the contract line. This field is only applicable to percent complete billing templates.
Project <source> hours	The total source hours for the project. <Source> can be: Estimated: total Estimated hours from all tasks associated with the project Planned: total Planned hours from all tasks associated with the project Budgeted: value entered in the Budgeted duration (hours) field on the project This field is only applicable to percent complete billing templates based on project hours.
Task <source> hours	The total source hours for the task. <Source> can be: Estimated: total Estimated hours from the task associated with the contract line Planned: total Planned hours from the task associated with the contract line This field is only applicable to percent complete billing templates based on task hours.
As of date	The date used in the As of date field when Preview was run in the Generate Invoices page and data existed to generate a percentage of completion value for the contract line. This field is only applicable to percent complete billing templates.
Generate process comments	Displays "Billing generated successfully" when Preview runs in the Generate Invoices page and data existed to generate a percentage of completion value for the contract line. This field is only applicable to percent complete billing templates.
Committed quantity	Displays the given allotment of your product or services that the customer is expected to consume over the course of the contract line. This field is only applicable to committed quantity billing.
Total unused quantity	Displays the Committed quantity minus the Total used quantity for the contract line. This field is only applicable to committed quantity billing.
Total used quantity	Displays the total quantity for all usage records for the contract line. This field is only applicable to committed quantity billing or quantity-based revenue recognition.

Schedule grid

Schedule grid field descriptions

Field	Description
Status	Displays one of the following: Open: the scheduled amount has not been invoiced. On hold: the scheduled amount is on hold and cannot be invoiced. This status is only applicable to termed contracts. Posted: the scheduled amount was invoiced. Terminated: the scheduled amount was canceled.
Scheduled billing date	The date the scheduled amount is expected to be invoiced.
Actual posting date	Displays the date the invoice posted if the scheduled amount was invoiced. You create contract invoices via the Generate Contract Invoices page rather than via an automatic system process. When you generate an invoice for a contract line, you can enter any desired Invoice and GL post date for the invoice, which becomes the Actual posting date.
Amount or Actual amount	The schedule amount to be billed or the amount that was billed.
Base amount or Actual base amount	The amount or actual amount expressed in your company's base currency. This field is only applicable to multi-currency companies.
Service period start date	Indicates the beginning of the time frame during which your business’s services are provided or consumed for this billing entry. Learn more about service periods.
Service period end date	Indicates the end of the time frame during which your business’s services are provided or consumed for this billing entry. Learn more about service periods.
Exchange rate	The exchange rate in effect on the contract line start date. This rate is not used for billing but is provided for information only. Learn more about exchange rates used for invoices.
Approved hours	For percent complete billing templates: The total hours from all approved hours associated with the project or task used to determine the percent complete calculation for the corresponding billing schedule entry. This field is only applicable to percent complete billing templates. For Project time contract lines: The total number of approved hours combined for the project, project/item, or project/task that were billed in the corresponding invoice.
Source hours	The total source hours from the project or task used to determine the percent complete calculation for the corresponding billing schedule entry. This field is only applicable to percent complete billing templates.
Percent complete	The total percentage of completeness calculated for the corresponding billing schedule entry. This field is only applicable to percent complete billing templates.
Percent to invoice	The percentage of the flat/fixed amount used to calculate the corresponding billing schedule entry. This field is only applicable to percent complete billing templates.
Billed	Displays a check mark if the scheduled amount was invoiced.
Linked line no.	Displays the contract line number that is linked to the corresponding scheduled amount. This column displays after you use the Distribute discount function on the contract line.
Posted base amount	Displays the invoice amount in your company's base currency if the invoice was posted. If the transaction currency differs from the base currency, this amount will be different than the scheduled amount if the Posted exchange rate is different than the exchange rate in effect the date the contract line started. Learn more about exchange rates used for invoices.
Posted exchange rate	Displays the exchange rate used by the invoice if the invoice was posted. Learn more about exchange rates and exchange rate types.
Historical	Indicates whether the corresponding entry was created as a result of contract schedules processing that occurred as part of your Contracts implementation. If this box is checked, the corresponding entry was made in the Contracts subledger and not in the GL.
Computation memo	If the GL posting date is different than the internal billing schedule start date, the system may schedule one or more billing amounts to be posted on the GL posting date. The "system generated scheduled date <date>" is the date that would have been used for the corresponding billing amount if the GL posting date wasn’t different than the internal billing schedule start date. Dates displayed in this field use YYYY/MM/DD format. See How the GL posting date affects billing schedules.
Document ID	If the scheduled amount was invoiced, displays the document number for the applicable invoice. Select the link to display the invoice in a separate browser window.