Milestone Type

Admin > Finance > Milestone Type

The Milestone page maintains a list of standard milestone types. A milestone type specifies the % total fee a client pays over the course of a project. Instead of paying everything upfront, payments are divided into milestones. For example a client could pay you 40% upfront, then 30% mid-project, then pay the last 30% on project completion. In the Contracts module, when creating a fixed price contract, these milestones are available in a drop-down list to quickly create phased billing.

Creating Milestone Types

1. Select the Admin > Finance > Milestone Types page.
2. Click New.
3. Enter the following fields.
   • Milestone Type Name
   • Description
   • Status - Active or InActive
   • GL Account - Select general ledger account to record postings.
   • Taxable - Taxable or Non Taxable
4. Click Save.