Fixed Price Projects - Where to input the CONTRACT VALUE

Hi,

Can anyone tell me (in AX 2012), where I shall put the Total Contract value of a Fixed Price Project. I tried to put in

Project Contracts- Billing Rules (button)–Created a New record, of type MILESTONE.

Added all the Milestones,. Now the CONTRACT VALUE shows the correct total value, but the moment i invoice my first Mile stone, the Contract value gets reduced by the amount which was invoiced.

What is the Best practise method i should follow?

Regards

Thomas Philipose

Thomas,

For a normal fixed-price project, we need to specify the milestones in On account transactions form which comprises the total contract value. Milestone based billing rule has different purpose though. Refer my blog posts for the differences and usage.

On-account invoicing: http://kirankumarbommana.wordpress.com/2014/08/15/on-account-invoicing-method-for-fixed-price-and-time-material-projects-in-ax-2012/

Milestone based billing rule: http://kirankumarbommana.wordpress.com/2014/07/02/ax2012-project-contract-with-milestone-billing-rules/