Available with the Accounting Subscription Plan
The Invoice tab enables you to:
- schedule the creation of either draft or final invoices that can be reviewed and sent to your client
- quickly review WIP (work in progress) revenue available to be billed to the client
- select the appropriate timesheet records to be invoiced
- adjust timesheet related revenue and apply this adjustment on a pro-rata bases to the billable time,
- prepare a draft invoice and include additional invoice lines for discounts, additional fees, credits, etc.
- write-off billable revenue in full or in part
- finalise the invoice draft and print the final invoice or email it directly to the client along with supporting timesheet information
- manage invoice remittances
- prepare and send client statements of outstanding invoice amounts
- export invoice and accounting information directly to your accounting package
In other words, TimeSite Pro provides a complete solution to your time-based invoicing requirements.
The invoicing workflow consists of four steps accessed via sub-tabs on the Invoice screen:
Schedule: Enables you to create a schedule of automatically generated invoices in either draft or final invoices. Draft invoices can be reviewed in the Invoices screen to check and amend them, set to final and then send to your client.
WIP: Enables you to review revenue available to be invoiced to the client, select one or more clients or projects, make adjustments to billable revenue, and create a draft invoice or write-off billable revenue in part or full.
Invoices: Enables you to review draft invoices created in the WIP tab, adjust or edit billable hours and non-time units, exclude selected timesheet records from the invoice, add additional invoice lines, modify bill-to address details. Once the draft invoice has been updated, it can be set to Final status and printed or emailed to the client. The final invoice can then be exported to your accounting package.
Collect: Enables you to review your aged debtors' position, see a summary of revenue amounts owing from or unbilled to your clients, receive and process partial or in full payments received from clients, prepare a statement of account to print or email to your client, records notes of your discussions with client relating to your invoice collection activities.
The following Settings should be reviewed in order to configure your TimeSite Pro invoicing workflow.
Company Setup: update your company details including legal company name, ABN, postal and delivery address.
System Setting > Rates: update task GL allocation field, enable cost rates if you want access to profitability analysis, enable bill rates to calculate billable revenue for work performed, enable fixed-price projects and generate revenue for fixed-price projects, enable on-site task billing.
Images: load logos files for use on screens and reports.
Export Invoices: identify your accounting system and establish this connection, invoice mapping for item and task types, resources, tax rates.
Accounting: update your banking details, invoice terms and formats, tax rates, payment accounts, currency, invoice item types, payment types & terms.
Email & Messaging: email servers, invoice template.