Manage all billing scenarios including cost plus, fixed price, time & materials, milestone billing, and contract specific pricing.
Modify resource billing rates by project, project tasks, inventory item, employee, and account group. Bill labor and materials according to the customer, the type of work being performed, or the specific project requirements.
Handle the most complex billing rules and easily calculate project revenue based on key project-specific attributes.
Fixed-Price and Cost-Plus Projects
Invoice according to project and contract requirements – fixed price set in advance, or cost-plus projects in which the invoice amount is not known until costs and fees are incurred. Billing on cost-based projects can be capped.
Optionally recognize revenue based on percentage of project completed or based on tasks completed. All recognition rules are automatically reflected in GL journal entries.
Define project billing parameters to automatically generate invoices at the right time. Save time, reduce errors, and improve cash flow.
Configure multiple rate tables for specific projects or project tasks for additional billing flexibility.
Bill projects weekly, monthly, quarterly, or according to a custom statement cycle for a project or customer. Delay posting of timesheets and materials expenses until released.
Apply markup at the customer level and vary according to labor and service type to provide maximum flexibility.
Correct improperly applied charges with an automatic reversal and invoice regeneration capability.