suresh Standard Billing in SAP Project Systems
Standard billing in SAP Project Systems involves the ongoing invoicing based on specific milestones or activities completed during the project lifecycle. It is a continuous billing process where invoices are generated periodically as per the project progress.
Milestone Billing in SAP Project Systems
Milestone billing in SAP Project Systems, on the other hand, involves invoicing based on specific project milestones achieved. In this method, invoices are raised only when predetermined project milestones are reached, such as project phases completed, specific tasks accomplished, or certain deliverables achieved.
Difference between Standard and Milestone Billing
The key difference between standard and milestone billing in SAP Project Systems lies in the invoicing criteria. Standard billing is based on periodic progress, while milestone billing is based on achieving specific project milestones. Both methods are commonly used in project-based industries to manage invoicing and cash flow efficiently.
In conclusion, standard billing is more continuous and based on progress, while milestone billing is more event-driven and tied to specific project milestones in SAP Project Systems.
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