Billing Periods

Once you have your budget and main contracts set up, you need to set up the master schedule and billing periods. These schedules define the frequency of payments to subcontractors and from the owner.

In this article, you'll learn how to create, modify, and activate billing periods.

Create Billing Periods

Billing periods must be created for budget payment applications and for cost payment applications.

For the main contract you can either set up your billing periods from the main contract’s details panel or within the Budget Payment Application tab. For cost payment applications, billing periods will be set up in the Cost Payment Application tab.

The first schedule must be created from scratch. Other schedules can be copied from existing contracts.

Create Billing Periods from the Main Contract Tab

To set up your billing periods for the main contract from the Main Contract tab:

1. Select the Budget tab.
2. Select the Main Contract tab.
3. Click the name of the main contract to open the details panel.
4. Click Manage in the Master Schedule section.
5. Now follow the steps in Add New Billing Periods section.

Create Billing Periods from the Budget Payment Application Tab

1. Select the Budget tab.

2. Switch to the Budget Payment Application tab.

3. Select the relevant main contract from the drop-down list.

4. Click the date drop-down list and select Manage Master Schedule.

5. Now follow the steps in Add New Billing Periods section.

Create Billing Periods from the Cost Payment Application Tab

To set up your billing periods for subcontracts from the Cost Payment Application tab:

1. Select the Cost tab.

2. Select the Cost Payment Application tab.

3. Hover over the relevant main contract from the list.

4. Click Open Details View.

   

5. Click the date drop-down list and select Manage Billing Periods.

   

6. Now follow the steps in the Add New Billing Periods section.

Add New Billing Periods

1. In the Manage Master Schedule dialog box, you can either copy billing periods from another main contract using the drop-down list or manually create periods.

2. To create periods, click Add New Periods.

3. Choose a start date and end date.

4. Select a frequency for the periods using the divide drop-down list:

   • Weekly
   • Bimonthly
   • Monthly
   • Do not divide

5. Click Done. The new period is now visible on the list.

6. Choose a payment application due date:

   • After Start Date
   • Before End Date
   • After End Date
   Note: This will only take effect on new payment applications.

7. Click Save.

Modify Billing Periods

Once billing periods are created, a second drop-down list enables you to select a billing period to activate, or you can manage billing periods.

In the Manage Billing Periods you can:

• Delete individual billing periods using the trashcan icon .
• Add new periods with the button in the upper right corner.
• Set a due date applicable for all new payment applications.
• Delete all billing periods to start over.

Activate Billing Periods

To create a payment application, you must activate a billing period.

1. Navigate to the relevant application type:

   • Cost tab Cost Payment Applications
   • Budget tab Budget Payment Applications

2. Select the desired contract from the drop-down list.

3. Select the billing period using the date range drop-down list.

4. Select Activate as current.

Next Steps

After creating billing periods, you can create budget payment applications and cost payment applications.