With the Revenue Recognition functionality enabled, you can collect payment by sending a Request for Payment (RFP) invoice to the customer.
Here are a few things you need to know about RFP invoices.
The workflow to create an RFP invoice is similar to creating a milestone-based invoice. You can add one milestone, multiple milestones, or collect partial payment for a milestone.
On the RFP invoice, taxes are not broken out in the summary section.
The amount on an RFP invoice does not fall under "Total Collected" or "Deferred Revenue" until the invoice status is "Paid."
You can create an RFP invoice from the following pages in the Cloud UI.
Payments page in the Project Details view, for an individual project
Account Details page under "Accounts" in the left navigation menu, Billing tab for project, service contract, and subscription payments
"Billing > Invoices" page in the left navigation menu for project, service contract, and subscription payments
"Projects > Revenue" page in the left navigation menu for project payments
This article explains how to create an RFP invoice from the "Billing > Invoices" page after selecting a project's milestones. The workflow to create the RFP invoice from other pages listed above is similar.
1/ Go to "Billing > Invoices" in the left navigation menu.
2/ Click "New invoice" in the top-right corner and then click "Request for Payment."
3/ In the modal, expand the project, select one or more payment milestones, and click "Next".
4/ Finalize the term, milestones, settings, and payment options for the invoice, and click "Create."
5/ On the invoice draft, add files or notes and share the invoice using one of the following options: download as PDF, present the invoice, share via email, or share a unique invoice URL per recipient via email.
Check out this article for more details.