Scheduling Invoices (PSA)

Invoice scheduling is using the Project Fee and forecasting when you intend to bill your client for the work, creating placeholder invoice values in each of the months you anticipate invoices will be raised. Invoice scheduling in CMap enables wider system reporting functionality, including the Invoice and Forecast Calendar and it also makes it easier for Project Managers to approve invoices.

In this article, we’ll look at:

  • Fixed Fee Invoicing
  • Time and Materials Invoicing

Fixed Fee Invoicing

For Fixed Fee projects, there are a number of ways to produce invoices, and this will be agreed from the outset with your client:

  • Set fixed month amount
  • Percentage split
  • On completion of agreed milestones

1. From your Dashboard, head to the Projects tab and select Live Projects.

2. Click on the Project No-Title of the project you’d like to schedule invoicing for. Then click on the Invoicing.

3. You will see the Fee Summary at the top, which provides an overview of the fee agreed with the client:

Element

Description

Sale Value

The original fee agreed with the client when the project was first won.

Variations

Any changes in the fee value since the project was first won.

Note: This will be zero when a project is first won and need to be factored into invoicing as and when they occur.

Total

The overall fee that will be charged to the client (Sale Value + Variations).

4. Move down to the Invoice Schedule  Here, you structure the invoicing profile of the project, telling CMap the following and then click Add:

  • A description of the invoice, e.g. 'Fees for May', '50% upfront', 'Initial fee', etc.
  • The amount to be invoiced
  • The month and year you wish to bill the invoice

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You can Auto Schedule your invoice which will spread the fee and weight it based on the budget that you have across different stages of work. Simply click Auto Schedule and CMap will automatically schedule the invoices for you.

5. Once the Invoice Total matches the Total in the Fee Summary, the text turns from red to black to signal the full value is accounted for. This will then also update the Invoices Scheduled traffic light on the Live Project Status dashboard from red to green.

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If extra fees are agreed as Variations, the Invoices Scheduled on the Live Project Status dashboard light will turn red to prompt the variation amount to be factored into the Invoice Schedule. Once the Invoice Total matches the Total in the Fee Summary, the traffic light will turn green.

Time and Materials Invoicing

For Time and Materials projects, invoices will automatically be scheduled for you when the project has been won. This is billed monthly based on the time booked to the project across the project’s start and end dates.

You can manually update these by clicking on the blobid0.png icon. Click Save to store your changes.

Hey Presto! Now that the invoices have been scheduled, they will appear on the Scheduled Invoices dashboard box, which project managers or finance users will be able to click into and approve them for creation. 

Want to learn more... here's an article on Approving Invoices. 

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