What are the different status of bill items in BRM and what is the significance of status field?

Question

Accepted Answer

BRM has different bill item statuses with significant meaning. Explain.

BRM bill item statuses include Open, Closed, Cancelled, and Reversed
Open status means the item is not yet billed
Closed status means the item is billed and paid
Cancelled status means the item is not billed and will not be billed
Reversed status means the item was billed but the transaction was reversed
Status field helps in tracking the billing process and identifying issues
For example, if an item is stuck in Open status, it may indicate a problem with the billing system

Accepted Answer

BRM is a Business Relationship management. Bill is an end use in benefit. Bill is one of the liabilities.

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Business Relationship management

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tradeelemental, trade, activity, operational, annotated and provisional bills are the main

Accepted Answer

Brm bill item status including open closed cancelled and revised

Accepted Answer

BRM bill item statuses include Open, Closed, Cancelled, and Reversed

Accepted Answer

There are 3 values of "status" field of bill items -
1 (Pending) -  Item status Pending is for unbilled items.
2 (Open) -  Open is for billed items but not yet paid.
4 (Closed) - Closed status is for items for which due amount is paid.

What are the different status of bill items in BRM and what is the significance of status field?

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