Billing Schedule

Overview

Billing Schedule allows you to define and schedule expected billings for a project over its life or just the initial period. You might do so for projects with milestone billing, wherein a project manager makes the billing decision rather than a billing manager. Architects and engineers use billing schedules based on milestones achieved while working on projects.

While you can define a billing schedule for any contract type, it is commonly created for fixed-type projects. You can schedule different amounts or a percentage of the contract on specific dates and allocate a portion of a project's retainer balance to each scheduled billing. In addition, you can choose whether expenses and extra time are part of the contract amount or charged separately. When you know the bill amount for each billing cycle, you can define as many billing records as needed (each record becomes an invoice). Projects with a billing schedule are added to the Invoices screen automatically, provided the billing date is due during that billing period. Click to watch this video on creating billing schedules in Core.

Field Descriptions

Basic Tasks

Create Billing Schedules

Edit Billing Schedules

Advanced Tasks

Change Order of Billing Lines

Add Retainers to Invoices

Show/Hide Columns in Grid

Export Billing Schedules

Create Invoices from Billing Schedules

Field Descriptions

Field Name Field Description
Projects > Detail > Billing Schedule >
Bill No. Non-editable sequence number for the billing records that determines the order in which they are available in the Invoices screen. Core automatically enters it as you click in the blank row. Each row represents an invoice to be generated.
Reminder Date Date when you intend to bill the scheduled billing records. It shows up in the Invoices screen based on this date as long as it is on or before the current date. A project must have at least one time entry during the billing period to generate a billing record based on this schedule. You can get notified about the project's scheduled billing as per this date.
Revenue Bill amount for the invoice before any retainer is applied. You can enter a value or use % Contract Amount field to calculate it. In whichever field you enter a value, the other is automatically calculated.
% Contract Percentage of the contract amount to bill on the invoice.
% Retainer Percentage of the retainer amount to apply to the bill.
Net Bill Net Bill here is not the same as Net Bill on the Invoices screen. It adds MST and billable expenses to it to produce the invoice net bill. The difference between the two helps you to compare the projected versus actual billed values.   Net Bill = Bill Amount – Retainer
Projects > Detail > Billing Schedule > Edit Bill Line >
Billing amount includes extra expenses Generally, extra expenses are not included in the contract amount and can be separately charged to the client as reimbursable expenses. However, this option makes the extra expenses count against the contract amount.
Billing amount includes extra time This option makes the extra time entries count against the contract amount.

 

Create Billing Schedules

To create a billing schedule, watch this video or follow these steps:

    1. Open the Billing Schedule screen from the side menu > Projects > Detail > Billing Schedule.

    1. Click Add and enter the required information in the top row of the grid. Check Field Descriptions above for details.

      • Bill No.: Non-editable sequence number for the billing records that determines the order in which they are available in the Invoices screen. 

      • Revenue or % Contract

    1. You can enter other information for the schedule. Check Field Descriptions above for details.

      • Reminder Date: Date when you intend to bill the scheduled billing records.

      • Retainer or % Retainer

      • Net Bill: Net Bill here is not the same as Net Bill on the Invoices screen. 

    1. Click Done.

Edit Billing Schedules

You can view, enter and edit billing schedule details in the detail mode. However, you cannot update the billing schedules that have invoices associated with them.

To edit a billing schedule:

    1. Open the Billing Schedule screen from the side menu > Projects > Detail > Billing Schedule.

    1. Select a billing record on the grid and click Detail on that row.

    2. On the Edit Bill Line screen, enter more details or make the desired changes.

    3. Click Save.

Change Order of Billing Lines

In Core, you can change the order of the bill lines in a billing schedule by moving them up or down.

To change the order of a bill line:

    1. Open the Billing Schedule screen from the side menu > Projects > Detail > Billing Schedule.

    1. Select a billing record on the grid that you want to move and click Actions > Move Up or Move Down.

Add Retainers to Invoices

To apply a retainer to a billing record:

    1. Open the Billing Schedule screen from the side menu > Projects > Detail > Billing Schedule.

    1. Select a billing record on the grid to which you want to add a retainer. Else, create a new billing schedule first.

    2. Enter the Retainer amount to be applied on the billing record.

    3. Click Done.

When you create this invoice in the Invoices screen, Core will apply the retainer amount to it.

Show/Hide Columns in Grid

You can configure the fields or columns that appear on the grid in the list view. You can hide or show columns, and sort the order of columns according to your requirements.

To do so, watch this video or follow these steps:

    1. Open the Billing Schedule screen from the side menu > Projects > Detail > Billing Schedule.

    1. In the list view, click More > Show/Hide Columns on the action bar.
    2. Select or un-select the column names in the drop-down list, say Retainer Percent.
    3. Next, click the column name you want to sort the data by, say Net Bill.
    4. Click once for ascending order ( A-Z) and twice for descending order ( Z-A).

Note: You can resize the column widths on the grid and then reset them, if needed (More > Reset Column Widths).

Export Billing Schedules

In Core, you can export billing schedules to the Comma Separated Values file format. Core exports data from all available columns and not just the columns visible in the grid.

To export a billing schedule to a .CSV file, watch this video or follow these steps:

    1. Open the Billing Schedule screen from the side menu > Projects > Detail > Billing Schedule.

    1. In the list view, click More > Export as CSV.

    2. A .csv export file is created and saved on your system at the default download location, say your desktop. Click to open the spreadsheet.

Create Invoices from Billing Schedules

You can create a manual invoice from a billing schedule.

To create an invoice from a billing schedule, watch this video or follow these steps:

    1. Open the Billing Schedule screen from the side menu > Projects > Detail > Billing Schedule.

    1. Select a billing record on the grid and click  to select Manual Invoice .

    2. To create a batch invoice instead, you can click More > Create Invoice.

    3. On the Create Invoice screen, enter the billing items and click Done.

    1. Click Process to process the invoice as draft or final. Check Invoices for details.

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