This lesson explains how to monitor invoice statuses to keep on top of billing using the Invoice Report and the Invoice Calendar.
Step 1: Go to the Reports tab and find the Invoice Report. This report lists all invoices that have been scheduled to be billed in-month, and their status:
- Scheduled indicates an invoice that has been scheduled to be billed in-month but is currently awaiting approval to be billed to the client by the project manager
- Approved indicates an invoice that has been approved to be billed to the client by the project manager but has not yet been created by finance
- Invoiced indicates an invoice that has been created by finance and billed to the client but is awaiting payment
- Paid indicates an invoice which has been paid by the client
NOTE: The Invoice Report is used as the finance chase list. It tells you which project managers you need to nudge and at glance where you’re up to in the invoicing process across the entire month.
NOTE: You can use Set Filters to filter the report by Client, Date Range, Project Manager, etc.
Step 1: Go to the Reports tab and find the Invoicing Calendar. This report lists all invoices that have been scheduled across your financial year:
• Grey invoices indicate invoices that have been billed to the client
• Blue invoices indicate scheduled invoices that have yet to be approved & created
NOTE: You don’t want to see any Grey invoices in historic months, as this will mean they are Overdue and giving you an inaccurate monthly total.