I am curious to know how companies using the Project module handle Milestone Payments against Purchase Orders they have issued and the receiving process they use. In our industry we can issue PO's for very high spec'd materials with long lead times. For these PO's we may have 3-5 milestone payments with payments dates based on certain criteria and progress of the order; i.e. not tied to a specific date. When we receive against the PO we can take one of two approaches; first, receive against the milestone and voucher each milestone. The second would be to receive against the actual receipt of material and create deposits against the PO for the milestone payments.
Within that discussion, when using Project and budgeting/estimating costs, how do you deal with the milestone payments in your ETC? Do you budget for when you receive the material or do you budget for when you make payments?
