Billing & Invoicing Module
Automate your entire time and billing and revenue reporting process
Timesheet.com Billing & Invoicing module is a workflow-driven project billing solution that automates project financial reporting, invoicing; connects your sales, project delivery, financial systems and teams
Do you often ask?
- Are we accounting for all project billing?
- Can we bill faster and more accurately?
- How can we automate our project revenue recognition policy?
- Can I quickly identify low margin underperforming projects?
The most important document you send to your client is the invoice. Keep their trust and good faith by making sure it is timely, accurate and reflects your true efforts. With certified connections to your CRM and accounting system, an opportunity in CRM becomes a project in Timesheet.com where it is planned, budgeted, tracked and billed. Detailed or summary project cost and billing information is then posted to your financial system’s accounts receivable, accounts payable and general ledger modules. Dashboards, reports and notifications provide instant status updates and improve collaboration with your sales, delivery and accounting teams.
Timesheet.com project billing software substantially reduces costs and streamlines the billing process. Deploying simple and effective project cost and billing software is one of the fastest ways you can create tremendous value for your organization. Automating the project billing and cost reporting process, and streamlining chargeback and invoicing activities empowers your project and service teams to focus on more important tasks such as faster billing and collections, improving customer satisfaction and access to powerful project financial reports and analytics that leads to better decision making.
Highlights of Timesheet.com project billing software:
- Flexible billing rules including hourly, fixed, cost plus, and date- or state-based milestone billing
- Full multi-currency support for all billing rules
- Set budgets for project billing; setup notifications when certain budget thresholds are reached
- Optional workflow-driven approval of pre-bills and revenue reports
- Client portal to view project status and pre-bill information
- Define service banks, Service Purchase Orders (PO), associated to a project to generate pre-bills and track billable work against each PO. Billable time, expenses, products and money charges can be capped for a specific PO. Project managers can set consumption order for multiple POs per project and be notified when a service order has been consumed or is about to run out
- Setup your invoicing cycle, your invoice templates, and create invoices for customers and projects based on your criteria and specify which items to include
- Scheduled multi-client invoicing allows you to schedule a batch of invoices. You click a button and go about your other tasks. Timesheet.com’s project billing system creates all the pre-bills (invoices) for you in the background, based on your invoicing cycle and criteria, and sends you an email when they are ready
- Automatically calculates revenue for time and material, fixed price, and percent complete projects; updates work in progress (WIP) accounts; adjusts WIP as actual project billable work and expenses are invoiced
Timesheet.com’s Billing & Invoicing module tracks your detailed project time and expense entries. Project financial reports such as pre-bills and charge-back reports can be created at any time with a click of button; they can also optionally be put through an approval process and posted to your financial system. There are a variety of options to map any customer, project or task to your accounting system’s general ledger (GL) accounts or segments.
“With Tenrox, we have a disciplined, structured way to capture all the data and the details and the ability to track, monitor, and analyze any project at any time. The workforce planning tools help us maximize resource allocation and gain better visibility into our projects for more efficient, effective delivery of our services. The software also will help us streamline our billing and cost accounting processes and give real-time revenue and cost overviews for our projects.”
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