Calculate percent complete billing amount

Percent complete billing allows you to invoice An itemized list of goods shipped, stating quantities, prices, fees, shipping charges, and so on, used to inform a customer of the amount they owe for the goods furnished. the customer Someone who agrees to buy goods from you. for a percent of the job or cost completion of the *sales order (SO) A record of information needed to authorize and process a customer’s order. The sales order lists all items to be sold to the customer. Made2Manage calculates percent complete billing amount as follows:

(Sum of actual material Physical entities you consume as you make a product. Material can be elemental, such as steel sheeting; a manufactured part, such as a screw or a plastic molding; or an assembly. and production labor Work related to the manufacturing of a product. costs / Estimated material and production labor costs) × (Extended price on release) – (Previous billing amounts) + (Credits) = Actual amount you can bill (Also called statement) A document showing a customer’s credits, debits, and balance for a given period of time. the customer

Due to rounding, the resulting extended invoice amount may not be exactly equal to the amount to bill. Therefore, a rounding adjustment line item.A manufactured or purchased part, material, sub-assembly, or product. is added to the invoice to make the total goods amount on the invoice equal the amount to bill.