Understanding PeopleSoft Contracts Billing

In this topic, you will learn how to better understand PeopleSoft contracts billing.

Steps:

1. A contract can consist of multiple contract lines with complex and diverse billing requirements. In PeopleSoft Contracts, each product is assigned to its own contract line.

   Step 1

2. You then associate each contract line with a billing plan. Billing plans store the timing of when billing occurs, how bill lines should appear, and what notes should relate to the bill.

   Step 2

3. You can assign contract lines with similar billing requirements to the same billing plan. Each contract has at least one billing plan, and a contract may have more than one billing plan.

   Step 3

4. When you define PeopleSoft Contracts business units and products, you define default billing options and billing rules for those business units and products.

   Step 4

5. When you create a new contract, the billing options that you associate with the contracts billing unit appear by default on the contract header, where you can edit them if necessary.

   Step 5

6. When you add products to the contract line, the billing options that you defined for that product are selected for the contract line.

   Step 6

7. When you define your billing plan, the billing options defined at the header and line levels populate the billing plan.

    

   You can edit them if necessary.

   Step 7

8. The billing options that exist at the contract billing plan level take precedence over those defined at a higher level.

   Step 8

9. A series of high-level management pages enable you to review billing activity for contracts and to manage the activity by holding and releasing billing activity that is otherwise ready to bill according to the defined terms.

   Step 9

Congratulations, you have successfully gained an understanding of PeopleSoft contracts billing.

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