Select the Billing by method from the drop-down list to establish the type of billing used for a project. The following details the available options:
Fixed cost: The invoice total in the Billing view is calculated according to a fixed amount. When you create an invoice for a fixed cost project, the invoice will not show detailed information (i.e. recorded hours worked, charge out rates). When you select this option for a project, an Amount box is displayed to enter the fixed project cost. For non-billable projects, select Fixed Cost and enter an amount of 0.
Actual hours: The invoice total in the Billing view is calculated according to the actual hours worked. When an invoice is created, you have the option to pick or exclude individual time and expense entries to include on the invoice.
Estimated hours: If Estimated hours is selected, the invoice total in the Billing view is calculated according to the actual hours worked. For invoicing, there is no difference between selecting Actual hours or Estimated hours.
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Tip: The 'Billing by' terms can also be customized to better fit your company's terminology. |