What is milestone invoicing in SAP SRD-PRO - PRO-Projects?

SAP Term: milestone invoicing

• Component: SRD-PRO

• Component Name: PRO-Projects

• Description: In addition to defining a date on which the system automatically creates customer invoices, you can also invoice project-based services automatically when project milestones are reached. Milestones are linked to invoice schedule dates which are used as a basis for invoicing as soon as the relevant milestone is reached.

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• Key Concepts: 
  Milestone invoicing is a feature of the SRD-PRO PRO-Projects component of SAP. It allows for the invoicing of projects based on milestones, rather than on a fixed timeline or completion of the entire project. This allows for more flexibility in billing and payment terms, as well as better tracking of progress and costs. 
  
  How to use it: 
  In order to use milestone invoicing, you must first create a project in SRD-PRO PRO-Projects. Once the project is created, you can define milestones and assign them to tasks or activities within the project. You can then set up invoices for each milestone, which will be triggered when the milestone is reached. 
  
  Tips & Tricks: 
  When setting up milestone invoicing, it is important to ensure that the milestones are clearly defined and that they are achievable within the timeframe of the project. It is also important to ensure that all stakeholders are aware of the milestones and their associated costs. 
  
  Related Information: 
  For more information on milestone invoicing in SRD-PRO PRO-Projects, please refer to SAP's official documentation.