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- Project Billing System
- Who it's for
- Managed services
Managed services
Service teams using recurring terms and true ups. Project Billing System gives the team a contract, project, billable work and invoice history for each customer engagement. Project manager can review the commercial context while billing specialist prepares charges and Controller handles approvals and period accounting.
How Project Billing System is set up for you
Contract terms
Record the billing type, frequency, payment terms, rate overrides and schedule before the first cycle.
Work evidence
Keep the source time and expense references with their approved dates and project assignment.
Invoice review
Use a draft invoice to compare the billed period and line source with the engagement agreement.
Period review
Inspect open WIP and provisional revenue before the Controller locks a period.
Service teams using recurring terms and true ups. Project Billing System gives the team a contract, project, billable work and invoice history for each customer engagement. Project manager can review the commercial context while billing specialist prepares charges and Controller handles approvals and period accounting.
For a recurring service engagement, use the retainer and true up terms on the contract to explain a draft. Billing specialist compares the billing period with the effective contract dates and open work. Project manager reviews any extra work, and Controller checks the period revenue entry against invoices before close.
Choose one active project and one customer. Enter its contract, rate basis and billing schedule. Bring in a small approved work batch with stable source identifiers. Prepare a draft and have project manager trace a time line and an expense line back to the original work. Rehearse one item that should be excluded, then review the remaining draft and the approval decision. After sending, follow its due date and payment amount. Review the same project in WIP and revenue entries for the period. This establishes a repeatable path for the next engagement without changing prior invoices.
Features to start with
Roles on the team
- Billing specialist
- Prepares billing contracts, billable work and invoice drafts for project review.
- Project manager
- Checks the project invoice and records work that should be excluded before submission.
- Controller
- Decides commercial and accounting approvals and reviews revenue periods.
- AR clerk
- Follows sent invoices, payment amounts, reminders and collection exceptions.
Set up Project Billing System your way.
Start free, then use Proto to change fields, steps and approvals before your team goes live.