Prepare Data Before Running Billing
Before starting a billing run, finance teams should confirm that the underlying project transactions are complete and correctly coded. This can include approved timesheets, labor charges, material transactions, employee expenses, indirect costs, and other project-related activity.
Contract setup is equally important. Billing terms, ceilings, rates, fee arrangements, funding information, billing cycles, and customer requirements determine which transactions can be included and how amounts should be calculated. Reviewing these inputs before the billing run helps establish a reliable billing population.
- Review project transactions: Confirm relevant labor, materials, expenses, and other billable activity are recorded.
- Check contract configuration: Verify billing terms, rates, ceilings, fees, and applicable funding information.
- Confirm accounting periods: Make sure transactions belong to the intended billing period.
- Resolve exceptions: Investigate missing approvals, incorrect coding, or transactions that require adjustment before billing.
Run the Costpoint Billing Process
Once source data is ready, the billing process applies the configured contract and billing rules to eligible transactions. Costpoint calculates the amounts to be billed and generates the appropriate billing records based on the organization's setup.
A typical workflow includes selecting the appropriate billing scope, reviewing the transactions identified for billing, calculating billable amounts, generating billing documents, and reviewing the resulting records. The exact screens, parameters, and sequence can vary according to Costpoint configuration and the organization's contract requirements.
A Billing System provides the broader operational framework for calculating customer charges, generating invoices, and maintaining billing records. Costpoint connects these activities with project accounting and contract information.
Review and Verify Billing Results
After billing calculations are completed, finance teams should review the resulting invoice information before final processing. A Billing Document contains the information presented to the customer, such as invoice details, billed amounts, transaction references, and applicable contract information.
Billing Verification helps establish that billing information is accurate, complete, and consistent with the underlying contract and accounting records. Teams can compare billed amounts with project transactions, investigate unexpected variances, and confirm that required information is present.
Invoice processing workflows can also include capture, extraction, validation, matching, GL coding, approval, posting, accuracy checks, and straight-through processing. The Invoice Software 2025: AI-Ready AP & Billing Guide. provides educational coverage of these stages and how connected invoice workflows support finance operations.
Generate Invoices and Connect Receivables
After the billing results have been reviewed, invoices can move into the organization's customer invoicing and accounts receivable workflow. The resulting receivable should remain connected to the originating contract, project, and billing records so finance teams can trace the amount from source transactions through customer payment.
Once invoices become outstanding, collections workflows can prioritize follow-ups, track promised-to-pay commitments, and support dunning activity with ERP write-back. This extends the billing process into the broader order-to-cash cycle.
AR Automation Software can automate collection followups and matching of payments with invoices, supporting a 40% reduction in DSO and an 80% reduction in reconciliation cost. These capabilities help finance teams connect invoice generation with subsequent receivables activity.
Payment Matching and Finance Integration
After customers pay invoices, cash application supports matching payments and remittance information to the correct invoices, posting receipts, and identifying unapplied balances or deductions. This closes the loop between the billing run and actual cash realization.
The article How Hyperbots AI Agents 10x Deltek Costpoint Finance discusses finance workflows involving customer payment matching, remittances, unapplied cash, deductions, and receipt posting, providing context for how billing data can connect with downstream receivables processes.
The Hyperbots Platform uses agentic AI to automate finance and accounting tasks, including document processing and ERP integration. Organizations can also use integrations with leading ERPs to support secure, real-time data exchange, flexible synchronization, and connected multi-ERP workflows.
Billing Controls and Operational Best Practices
A repeatable billing process should combine transaction readiness, contract validation, billing calculation, invoice review, and receivables reconciliation. Finance teams can establish a consistent pre-billing checklist and retain appropriate records for each billing cycle.
- Validate contract terms: Confirm rates, ceilings, fees, billing periods, and customer-specific requirements.
- Review billing exceptions: Investigate unusual amounts, missing transactions, incorrect coding, or unexpected changes before invoice finalization.
- Reconcile billing totals: Compare invoice amounts with project accounting and applicable contract records.
- Track downstream activity: Monitor invoice status, receivables, payments, and reconciliation after the billing run.
- Maintain auditability: Preserve supporting transaction and billing information so invoice amounts can be traced back to their source.
The Sync Sales to Cash article discusses CRM and invoicing software for 2025, including how connected sales, billing, and accounts-payable workflows can help organizations understand the movement from commercial activity to invoicing and cash realization.
Summary
Running billing in Costpoint involves preparing project transactions, applying contract billing rules, calculating eligible amounts, generating billing documents, verifying results, and connecting invoices with receivables. A disciplined workflow helps finance teams maintain accurate customer billing, support contract compliance, and preserve traceability from project activity to invoice and payment. Integrating billing with downstream payment matching and financial systems further improves visibility across the billing-to-cash process.