How does the billing work?

Billing is the process of paid services and incurred expenses tracking, invoicing and payment control.

Tracking T&M works

  1. The Billing rate classifier is created on the level of the system, containing all the billing rates.
  2. Such rates can be edited on the level of the client. E.g. if you have a framework agreement with defined hourly prices.
  3. The user creates a project with T&M billing type.
  4. In the project is added with the billing rates in use. Such rates can be edited at the project level.
  5. The team of the project is created together with project tasks. For team members, the available billing rates are indicated. The project is marked as "In progress".
  6. Employees are using timesheets to track working time for specific projects by choosing the billing rate for the provided services. The user can always use "Non billable" billing rate that allows tracking working time without creating additional expenses for the customer.
  7. Timesheets have to be approved.
  8. After approval Billing summary shows information about approved T&M works without invoices.
  9. The user has to create an invoice. The invoice is added with lines containing grouped works. Such grouping can be unique for each invoice.
  10. The amount indicated in lines can be edited, keeping the original values.
  11. The invoice is issued and sent to the customer.
  12. After receiving the payment the invoice is marked as paid in the system.

Tracking works with fixed price

  1. The user has to create a project with "Fixed Bid" billing type.
  2. The team of the project is created together with project tasks. Project tasks can be represented as a calendar plan, as well as stages of the contract.
  3. The user has to indicate the amount of planned revenues on the project level. The user is also able to define the period for tasks, allowing hiding the tasks from the invoice if such tasks are located in a different period.
  4. The project is marked as "In progress".
  5. At the moment when a task becomes active Billing summary shows information about approved tasks with fixed bids. The appearance of the lines at the beginning of the period allows making advanced payments (if required).
  6. The user has to create an invoice. The invoice is added with lines containing grouped works (by project, task and period). Such grouping can be unique for each invoice. By using the grouping the user is able to combine tasks from different projects, carried out simultaneously (e.g. during a month).
  7. The amount indicated in lines can be edited, keeping the original values.
  8. The invoice is issued and sent to the customer.
  9. After receiving the payment the invoice is marked as paid in the system.

Expense tracking

  1. The user creates a project.
  2. The project specifies the allowed expenses types.
  3. The employees are able to create expense request for the current project, indicating the structure of expenses and the necessity to receive the payment form the customer.
  4. All requests have to be approved.
  5. After approval Billing summary shows information about approved expenses without invoices.
  6. The user has to create an invoice. The invoice is added with lines containing grouped works. Such grouping can be unique for each invoice.
  7. The amount indicated in lines can be edited, keeping the original values.
  8. The invoice is issued and sent to the customer.
  9. After receiving the payment the invoice is marked as paid in the system.

Tracking of arbitrary costs

In the case when the user needs to add an amount, which is not tracked as works and expenses, such line can be created right in the invoice. The user has to add descriptions, the measurement unit, the date and the price.

VAT calculation features

All tracking operations in WorkPoint are performed without VAT calculation. If the company uses VAT, such feature has to be enabled in the system settings. After that, the user has to indicate the amount of VAT in the invoice template.

VAT will be added right to the amounts in lines of the invoice.

Still need help? Contact Us Contact Us