You can invoice for a project by entering just billing schedule items or a combination of one or more billing schedule items with billing rates. Typically, just billing schedule items are used when the project has either a Fixed Price or Fixed Price Plus Expenses contract type.
This method requires the setup of project types, contract types, billing rates, and expense categories. If only billing schedule items are used to bill the project’s customer, then there is no need to use existing billing rates. If the project is going to require a combination of billing schedule items and billing rates, then both must be specified on the project’s Billing Information tab.
This is the general process for project invoicing with scheduled billing. Refer to the Project and Project Invoice topics for important step-by-step instructions and field descriptions.
On the Project screen, Main tab, specify required project information.
In Type, specify a billable project type. See Project Types.
You can use any predefined value in the Contract Type field. See Contract Types.
If you plan to add tasks for the project, leave the Task Required check box selected. Otherwise, clear the check box. Tasks are not required.
Note: If you clear the Task Required check box, the Task tab cannot be used for adding tasks. The system adds one default task to the project, and all time and expenses are automatically associated with that task.
Also note: If you set the Billing Schedule Type to Date Oriented (Detail), tasks may be required depending on the project account that is selected for a billing schedule row. If a selected project account has been set up to require a resource and/or labor category, then a task must be specified. See Project Accounts.
If applicable, add project tasks on the Task tab.
The Reported % Complete field for each task can be maintained by the project manager or another user who is responsible for updating project information. This field is not required for date-oriented scheduled billing.
If a budget is created for the project, the Computed % Complete is calculated as Total actual project task costs/Total budgeted project task expenses. This field is updated automatically as time and expenses are approved.
Optionally, you can create a budget on the Budget tab. Budgeting is not required unless you want Computed % Complete to be calculated.
On the Billing Information tab, specify the required information.
In Billing Rates, you must specify a predefined billing markup for the project if the contract type is not Fixed Price. See Billing Rate.
In Billing Schedule Type, you can select Date Oriented (Detail) or Date Oriented (Summary).
In the Billing Schedule grid, add entries by date for the project billing schedule. You can add rows and/or delete rows with a status of Scheduled at any time.
Time and expenses are entered and approved for the project.
When it is time to create an invoice for the project, the Project Invoice screen is used. Header information is specified, including the invoice date, and then the Update Detail button is clicked.
Billing schedule items with a status of Scheduled and a date on or before the invoice date are automatically added to the invoice Detail area. Approved time and expense entries with a transaction date that is on or before the invoice date are also added, and the user can add entries manually. The user selects the items/entries to include on the invoice.
Refer to Project Invoice for information about completing the invoice.
Note: The fact that labor hours or expenses are charged to a project does not determine whether the hours and expenses are displayed on a project invoice. They must also be marked up based on the billing rates schedule that is associated with the project or rate exceptions specified at the project level. If billing rates are not set up correctly, the billable values must be manually created in Project Transaction or in Project Invoice.