Definition
A billing cycle defines the billing frequency for an award.
Overview
One of the factors impacting invoice generation is how often and on what dates an award is billed. An award’s billing schedule is determined by the organization’s business rules, as well as the agreement entered between the user and the sponsor.
Users can define and maintain as many billing cycles as needed. Some examples of defined billing cycles are as follows:
- set number of days
- same day each week
- project completion date
Users must define billing cycles that fulfill their business needs and assign a billing cycle to each award. The billing processes derive the next billing date based on the billing cycle definition.
A client extension can optionally be used to define a billing cycle.
(N) Setup –> System –> Cycles
Reference
For information on billing cycles, see Cycles, Oracle Projects Implementation Guide.
To set up billing cycles, perform the following steps.
- In Grants Accounting, navigate to the Billing Cycles window as follows:
Setup – Billing – Billing Cycles
- Enter data in each field of the Billing Cycles window as described in the Billing Cycles Window Description table.
- Save or save and continue as follows:
File – Save or Save and Proceed
- Close the window.
