Accurate billing is important to keep your client happy
Ensuring that your customer receives an accurate invoice is important. It’s also important that you are able to determine the billing nature of a job, so that the invoice that is raised is accurate.
WorkBook supports various kinds of jobs and billing methods:
Time & Material
When you raise a new invoice WorkBook will help you determine what are to be billed and what data to insert on the invoice lines. WorkBook can copy data to the invoice lines for you, so you only need to make sure that the wording is good. You are given a list of “Copy” choices when raising the invoice:
Copy from Price Quote
Copy from another Invoice
Copy from Schedule
Copy from Expenditures
Copy Payment Plan
For accurate billing the invoice should look good and be well-structured. It’s not only a matter of choosing the font type/layout (which of course follows the company design), but it’s also a matter of having the right information placed on the invoice, so it’s easy readable and, not at least, easy to approve by your client. Invoices can be emailed directly from the system.
When you opt in for the finance & accounting module there are different revenue recognition principles that can be applied. This is considered and setup when WorkBook is implemented. A good revenue recognition is making sure that accurate billing is carried out.
Finally, you choose the type of invoice. Besides supporting Invoice on Account, Partial invoicing, Credit notes/memos WorkBook has a special feature which is the ability to bill several jobs on one invoice, instead of having to send one invoice per job. This is called a Consolidated invoice and will allow you to do an accurate billing for an entire campaign.