What is the difference between milestone and periodic
billing???
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Answer Posted / n
Milestone Billing comes into picture when you are not
having the exact details of Item Data(line Items). This
most often observed with Master Contracts & WBS (Work
Breakdown Structure) Projects.
E.g. if there is a tender for a Airport Development
Project.. this project will required N number of Electrical
appliances, Mechanical Instruments, Infrastructural
buildings...etc in this case whenever vendor responsible
for respective services will complete his job in % &
accordingly submit his/her bills based on milestone billing
as per the agreement between respective authorities.
Periodic billing is used when you want to bill the customer
at different points of time based on the periodicity or
progress of the work.
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