![]() Leave that selection unchecked if you'd like to bill time for a given date range but you'd like to bill all unbilled expenses. Note that selecting a date range will bring up the checkbox shown above as well, allowing you to apply this date range filter to unbilled expenses. When you do, the system will automatically drop any time/expenses that fall outside this date range, holding them for a later invoicing cycle. Billing for a Specific Date RangeĪs mentioned in the step-by-step above, you can control the date range over which an invoice is created using the INVOICE DATE RANGE selector in the finalize screen. This section will walk you through how to do that. There are a number of specific circumstances where you may decide you would rather bill a portion of your unbilled WIP. Limiting the WIP You Include on an Invoiceīy default, the invoicing engine creates a new invoice based on all of your unbilled WIP. Note that this will relieve your WIP and pull all of your unbilled time/expenses onto this invoice Change the description by adjusting the line item subtotal values When you pick different subtotal settings, the line items will summarize time/epenses by the setting you select.Ĭlick the FINALIZE button when you are ready to finalize your invoice.Update the default billing rate for the project by selecting one of the base rate(s) from the Rate Type picklist.Just click on the field to select specific start/end dates. Limit your WIP to a specific date range by changing the invoice date range.When you do, you'll see the line items recalculate automatically, based on the changes you make. Use the sidebar controls to adjust your invoice details. Once you do, you can click the Next button to see a draft T&M invoice, configure it and finalize it. Note that selecting a specific project will update the invoice/WIP details on this page, so you can see the total hours/expenses you'll be billing.Ĭhoose the T&M Invoice style. Step by Step: Creating a T&M InvoiceĬlick the Create Invoice button on the Invoice.Overview page. As long as you have established the billing rates for the project you are invoicing, this type of invoice can be created in just a few clicks. We simple pull any unbilled time/expenses onto the invoice and then sub-total that information by staff member, category, task, team role, etc. The hours are being billed at a rate of $250/hour, and the expenses are lumped together into a single line item.īigTime can create invoices like this automatically for you. Here, the firm is billing both hours and expenses. The invoice line items below represent a fairly typical T&M billing situation. ![]() We'll show you how to create T&M invoices, how to adjust them, and how to review and bill what the system calls work-in-progress, or "WIP" (eg - all of your unbilled time/expenses). It's an extremely popular format for professional firms, and this article walk you through how they work. A Time/Materials (or "T&M") invoice uses your hours, billing rates and expenses to automatically compute an invoice's dollar amount.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |