Tasha's Top 10 New Features for D365 Project Operations: Feature 2

Enable Progress-Based Billing in Billing Hub: A Game Changer for D365 Project Operations

Continuing with Tasha’s Top 10 New Features for D365 Project Operations I’m thrilled to dive into one of the standout features from the 2024 Wave 2 updates in D365 Project Operations: Enable Progress-Based Billing in Billing Hub. This feature is designed to streamline your billing process and enhance efficiency, especially when working on fixed price agreements.

What is Progress-Based Billing?

Progress-based billing is a method where invoices are generated based on the progress or percentage completion of a milestone. This ensures that billing aligns with the actual work completed, providing a more accurate and fair invoicing process.

Business Value of Progress-Based Billing in Billing Hub

Integrating progress-based billing with the Billing Hub brings several key benefits:

• Reduced Clicks and Navigation: Users can review all transactions in an invoiceable state with a single click, staying within the context of the project contract. This saves time and improves efficiency.

• Faster Invoicing Cycle: By speeding up the invoice creation process, this feature enables quicker processing of payments from customers.

• Reduced Invoice Corrections: Proactive invoice insights help billing administrators make more accurate decisions during invoice creation, reducing the need for corrections later on.

*Special Details* (I like to call these sprinkles)

With this feature, you’ll experience:

• Reduced Clicks and Navigation: Streamline your workflow by reviewing all invoiceable transactions with a single click.

• Faster Invoicing Cycle: Accelerate the invoicing process, leading to faster payment processing.

• Reduced Invoice Corrections: Improve accuracy and productivity with proactive invoice insights.

Using Progress-Based Billing in Billing Hub

Here’s a step-by-step guide to get you started with enabling progress-based billing in the Billing Hub:

1. Go to: Billing Hub.

2. Enable Feature: Ensure progress-based billing is enabled in the settings.

3. Create Invoice: Review transactions in an invoiceable state and create invoices based on progress.

By following these steps, you can begin to leverage the full potential of progress-based billing, making your invoicing process more efficient and accurate. Stay tuned for more information and setup around in this feature!

Conclusion

Progress-based billing in the Billing Hub is a powerful feature that enhances the billing process in D365 Project Operations. By reducing clicks and navigation, speeding up the invoicing cycle, and minimizing invoice corrections, it significantly improves user efficiency and accuracy. If you have any questions or need further assistance, feel free to reach out!

Stay tuned for more updates and tips on leveraging the latest features in D365 Project Operations.

Happy billing!