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Invoice Fixed price project
Activity Flow

For fixed-price projects, you base invoices on billing schedules. Use billing schedules for on-account invoicing and work in either project-level or contract-level mode.

Use this method to manage WIP and estimate revenue and project completion. Treat pre-estimation invoiced amounts as 'unearned revenue'. The estimation determines earned revenue, which posts during the estimate, not during invoicing.

Project accountant Project accountant Create Project invoice proposal Create Project invoice proposal Create an invoice proposal to review chargeable transactions before posting the invoice. To generate an invoice proposal, go to: Project management and accounting > Common > Projects > All projects > Manage action panel > New group > Invoice proposal. This activity helps you: Review all chargeable transactions in one place. Select specific transactions to include in the next invoice. Before running the proposal, ensure that billable transactions have been posted to the project. If not, the selection windows will be empty. Follow these steps to create the invoice proposal: Open the invoice proposal page for the project. Select an invoicing method. Choose "Both" to allow customer invoices and credit notes, or select one option. Set the invoice date and end date. The end date must not exceed the posting date. Start date is often left blank to include all unbilled transactions. Decide whether to include subproject transactions. Filter by transaction type if needed, based on the customer agreement. As you select line items, the total invoice amount updates automatically. After confirming the required lines, click OK to review and post the invoice. Procedure 1. Go to Project management and accounting > Projects > All projects. 2. In the list, find and select the desired record. 3. On the Action Pane, click Manage. 4. Click Invoice proposal. 5. Click Search. 6. Click OK. Start Start Post project Invoice proposal Post project Invoice proposal Select the required invoice lines. The total amount updates automatically. Click OK to review and post the project invoice. Procedure 1. Go to Project management and accounting > Project invoices > Project invoice proposals. 2. In the list, find and select the desired record. 3. Click Post. 4. In the list, mark or unmark all rows. 5. Click OK. 6. Click OK. Acrue revenue Acrue revenue Review the submitted vendor payment. Go to: Common > Common > Work items > Work items assigned to me. End End

Activities

Name Responsible Description

Create Project invoice proposal

Project accountant

Create an invoice proposal to review chargeable transactions before posting the invoice.

To generate an invoice proposal, go to: Project management and accounting > Common > Projects > All projects > Manage action panel > New group > Invoice proposal.

This activity helps you:

  • Review all chargeable transactions in one place.
  • Select specific transactions to include in the next invoice.

Before running the proposal, ensure that billable transactions have been posted to the project. If not, the selection windows will be empty.

Follow these steps to create the invoice proposal:

  1. Open the invoice proposal page for the project.
  2. Select an invoicing method. Choose "Both" to allow customer invoices and credit notes, or select one option.
  3. Set the invoice date and end date. The end date must not exceed the posting date. Start date is often left blank to include all unbilled transactions.
  4. Decide whether to include subproject transactions.
  5. Filter by transaction type if needed, based on the customer agreement.

As you select line items, the total invoice amount updates automatically. After confirming the required lines, click OK to review and post the invoice.

Post project Invoice proposal

Project accountant

Select the required invoice lines. The total amount updates automatically.

Click OK to review and post the project invoice.

Review the vendor payment

Project accountant

Review the submitted vendor payment.

Go to: Common > Common > Work items > Work items assigned to me.

Activities

Name Responsible Description

Create Project invoice proposal

Project accountant

Create an invoice proposal to review chargeable transactions before posting the invoice.

To generate an invoice proposal, go to: Project management and accounting > Common > Projects > All projects > Manage action panel > New group > Invoice proposal.

This activity helps you:

  • Review all chargeable transactions in one place.
  • Select specific transactions to include in the next invoice.

Before running the proposal, ensure that billable transactions have been posted to the project. If not, the selection windows will be empty.

Follow these steps to create the invoice proposal:

  1. Open the invoice proposal page for the project.
  2. Select an invoicing method. Choose "Both" to allow customer invoices and credit notes, or select one option.
  3. Set the invoice date and end date. The end date must not exceed the posting date. Start date is often left blank to include all unbilled transactions.
  4. Decide whether to include subproject transactions.
  5. Filter by transaction type if needed, based on the customer agreement.

As you select line items, the total invoice amount updates automatically. After confirming the required lines, click OK to review and post the invoice.

Post project Invoice proposal

Project accountant

Select the required invoice lines. The total amount updates automatically.

Click OK to review and post the project invoice.

Review the vendor payment

Project accountant

Review the submitted vendor payment.

Go to: Common > Common > Work items > Work items assigned to me.
Related to Notes

Invoice Fixed price project

 		 

Fixed-price projects

 		 

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