Timemaster Work-in-Progress and invoicing Module
Timemaster Work-in-Progress and Invoicing brings a just-in-time approach to invoicing that will substantially improve your cash flow and reduce the effort required to invoice the work done. Your accounts team will be able to drill-down through each and every project and see the due fees, time-charges and expenses. An invoice can be created, printed and sent to your client for payment.
Timemaster WIP & Invoicing adds work in progress valuations, invoices and credit note production functions to the information held within Timemaster Project Management.
- Instant work in progress valuations
- Generate What-if or Draft invoices for approval by project managers
- Automate invoice production from fee schedules, finalised timesheets and approved expenses
- Print invoices from a set of standard templates
- Export approved invoices into third party accounts packages and corporate accounting systems
The Work-in-Progress folder provides a single source of information containing unbilled work for all client and departments
Work in Progress module screenshot
- Automatically generate Work-in-Progress valuations
- Right-click to view or amend:
- Time-charges - write-up or write-down the amount to be billed by adjusting the hours worked, the hourly rate, the total cost or defer timesheet lines to the next invoice run
- Expenses - write-up or write-down the amount to be billed for an expense item by adjusting the quantity, unit cost, the total cost or defer expenses to the next invoice run
- Fees - adjust the fee value to be charged or defer the fee value to the next invoice run
- Offet pre-payment amounts
- Create draft invoices for approval
- E-mail project manager with draft invoices for their approval
- Sort and group by project manager or client
Do more [work] with less [resource]
Increase profitability and cash flow by automating invoice production with Timemaster
- Invoices can be created manually or generated from the billing methods set against projects and tasks
- Draft invoices may be edited until locked by approving
- Invoicing multiple projects on on invoice by creating container projects
- Set agreed limits to ensure projects aren't invoices over a certain value
The invoice folder supports:
Invoice Print module screenshot
- Alteration of invoice values while the invoice is of draft status
- Retrospective discounts as a percentage or specified value
- Generated narrative for different types of work
- Entry of invoice comments to appear on the final invoice
- Alteration of invoice recipient and address details
- Sequential invoice numbering and tracking
- The entry of a pre-payment to be credited later against future time-charged work
- The splitting of an invoice between two or more clients on a percentage basis. Once split the resulting invoices can be amended individually
- The changing of the VAT tax rate to be applied to the invoice
- The changing of the invoice template to be used for this specific invoice
- The entry of private comments regarding the invoice
- Credit a whole invoice or an invoice line
- Changing the currency of the invoice
Time Recording and Project Management