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"...This is an excellent program. I'm so glad that I stumbled on to this when researching for task management programs. Very low learning curv, quite flexible, and the price is right. Tried at least 20 other programs, either too complicated, too expensive, or poor documentation..."
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Honolulu, HI

Project Billing Checklist

 

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Project Billing Checklist Project Billing Checklist will be helpful to all organizations which are contracted to execute some projects for their customers. Any work should be billed for and paid by consumers, so this checklist will help you to organize work accounting and billing for your projects.


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Project billing may require such items:

  • Customer Contract (with all billing configuration documented);
  • Project Budget (based upon the contract terms);
  • Project Expenditures (derived from estimations);
  • Project Work/Time Tracking methods;
  • Project Costs Tracking methods;
  • Billing, Invoice Generation methods;
  • Accounts Receivable;

Get prepared for project billing:

  • Agree with the customers upon the project billing methods (billable hours, materials + markup, percentage of completion, fixed price, quantifiable services, etc) and formulate them in contacts;
  • Compose a bill plan to incorporate timeline of billing events, and define lines to be billed;
  • Identify the project billing methods and cycles as they are defined in your customer agreements and contracts to fund your project activities with amounts limited by those agreements;
  • Introduce the accepted project billing rules, billing cycles, and billing schedules to all concerned team members;
  • Set distribution rule to define the revenue accrual method;
  • Specify the project billing currency and conversion attributes;
  • Collect, approve and record information on the project customers and their contacts – especially representatives with whom you have immediately negotiated and contracted the project work;
  • Create and accept your invoice templates (format of invoices to bill the customers and supplies) – consider what items and information should be included there;

Manage project billing:

  • Track specific project tasks to update and monitor any monetary transactions, such as connected to contracted expenses and incidental costs;
  • Evaluate the worth of progress achieved on the project to derive percentage of completion;
  • Bill the customers every month (or as suitable to your billing cycles) for billable work: schedule client invoicing in advance, and track ongoing collection of billed amounts;
  • Bill for costs incurred on a project according to predefined billing rules and boundaries – aspire to consolidate multiple charges into a single bill (materials, work, etc);
  • Control billable efforts.....

 



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Looking for multi-user task management software? Try CentriQS complete task management solution for planning, tracking and reporting tasks, projects, and schedules. Increase productivity of your small business or office by better organizing your employees' tasks and time.

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