Billing and Invoicing Configuration

The application can manage billing aspects for all engagements, accepting information from various points, processing that information, and then creating debit/credit bills that can then be added to an invoice and sent to a client or supplier. The billing process involves a transfer to an internal reconciliation system called PeopleSoft. This system stores the billing/invoice information, and is used to calculate taxes, reconcile discrepancies and adjustments, and serve as a record of all billing activity in the application.

The system can be configured to calculate taxes based on an integrated ERP (for example, PeopleSoft), using rates defined in the system, or manually added to bills/invoices. In addition, depending on which party owns the business contract, the system also determines how fees are applied to the 'Bill to Party' and the 'Bill from Party'. Rates are determined using the Tax Calculation Method set on the invoice option (see Invoice Options for Locations).

Because taxes are assessed based on entity location, organizations can have multiple entities defined to determine where the entity is located, and which taxes should be assessed. These definitions can be used to satisfy tax requirements where entities are located in the same place (for example, country), located in different countries (VAT, taxing based on taxable entities), or subject to zero tax exemptions. See Tax Rates.

Billing and invoice information in the application is deemed financially sensitive, and therefore, the ability to view billing items and invoices is strictly controlled at the client organization/OpUnit level using permissions. For more information about permissions, see Users and Permissions.

The billing process depends on the client organization's configuration. This section provides an overview of the billing/invoicing process, and the required configurations and data considerations that make up the framework of the process.