Advanced Billing
Manage all project billing scenarios including cost plus, fixed price, time and materials, milestone billing, and contract specific pricing.
How Advanced Billing can work for you
Modify resource billing rates by project, project tasks, inventory item, employee, and account group. Calculate time and materials billing according to the customer, the type of work being performed, or the specific project requirements.
Key Benefits of Advanced Billing for your Company
Flexible billing
Handle the most complex project billing rules and easily calculate project revenue in multiple currencies 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.
Revenue recognition
Optionally recognize revenue based on a percentage of projects = completed or based on tasks completed. All project revenue recognition rules are automatically reflected in GL journal entries.
Important Features of Advanced Billing
Automated Billing
Define project billing parameters to automatically generate invoices at the right time. Save time, reduce errors, and improve cash flow.