Projects - Billing - Options

See Also

 

The Options screen is used to specify a billing method (that is, Stipulated Sum, Percent of Construction, Unit Cost, Hourly Rate or Multiple of DSE/DPE), set invoice format options, apply a tax model, specify interest and terms, apply adjustments and expense markups (% or $), specify phases to display on the invoice, invoice output options, and generate an invoice.

 

 

Invoice Method

Specify the method of invoicing your time and expense entries. You can choose the invoicing method as: Hourly Rate, Stipulated Sum, Multiple of DSE/DPE, Percent of Construction and Unit Cost.

Cap:

Select this check box to designate a limit for billing. This is the maximum amount the client will be billed over the life of the project (that is, a project cap). This option is only available when either the Hourly Rate or Multiple DSE/DPE invoice methods are selected.

 

Percentage:

Enter the percentage of the project value on which the fee is based. This option is only available when the Percent of Construction invoice method is selected.

 

Construction Value:

Enter the total project value. This option is only available when the Percent of Construction invoice method is selected.

 

Fee:

This read-only field displays the billable fee when the Percent of Construction invoice method is used.

 

Size:

If the Unit Cost invoice method is selected, enter the measurements of the project (for example, 1,250,000 Sq. Ft).

Rate:

If the Unit Cost invoice method is selected, enter the rate charged per unit (for example, 0.10 Sq. Ft).

 

Amount:

Amount to be invoiced.

 

Action

 

New:

Select this option to create an invoice. EngineerOffice remembers the invoice date range and last invoice date of every project. So you do not have to continually enter the date each time you create an invoice or a draft invoice. You can also overwrite the default invoice number and enter a custom invoice number when creating an individual invoice here.

 

Save:

Select this option to save changes to the billing options.

 

Find:

Choose this option to search for specific invoices.

 

List:

Select to the List view and display the current found set of invoices.

 

View Draft:

Select this option to view a draft of a generated invoice.

 

Delete Draft:

Select this option to delete a draft copy of an invoice.

 

Finalize Draft:

Select this option to finalize a draft invoice and post it.

 

Finalize Draft and Print:

Select this option to finalize a draft invoice, assign the finalized invoice number, and print it.

 

Apply Retainer and Finalize Draft:

Select this option to apply a retainer amount to a draft invoice, and then finalize and post it. The amount paid from the retainer displays on the invoice.

 

Apply Retainer, Finalize Draft and Print:

Select this option to apply a retainer amount to a draft invoice, then finalize and print it. The amount paid from the retainer prints on the invoice.

 

From the accounting perspective, when retainers are applied on an invoice, the transaction debits the AO Unearned Retainer account and credits the A/R account.

 

Help:

Opens the EngineerOffice Help in the Projects section.

 

Billing Notes:

You can use these notes to record important information related to billing. They can also be used to provide billing instructions by the project manager to the billing person or accountant.

 

Fixed Fee Invoicing Grid

This grid displays when a fixed fee billing method (that is, Stipulated Sum, Percent of Construction and Unit Cost) is selected. It shows the budgeted, actual and invoiced amounts for each phase.

 

Specify Phase Billing Amounts:

You can specify the amount to be billed per phase by entering a value in either the Current % or Current $ column, regardless of how your budget was set. For example, if your budget was set by fee you can set the invoice value by percentage.

 

Select Phases to Include on Invoice:

You can specify which phases are displayed and billed on a generated invoice by selecting the check box in the last column of the grid. You can select or deselect all phases and sub phases by marking the All check box accordingly.

Adjustment/Markup Tab

Adjust:

Specify if you want to apply any adjustments to your invoices. You can choose whether to apply adjustments to each individual time entry included on an invoice or to the total invoice charges.

Adjust By:

You can specify whether to apply your adjustments by percentage or dollar amount. Enter the adjustment amount you want to apply on the invoice.

 

Apply To:

Specify whether you want to apply your adjustments to time entries or expense entries or to the total amount for time and expense entries.

 

Description:

Describe briefly the nature of adjustment.

 

Expense Markup:

You can specify whether to apply a markup to your expense by percentage or dollar amount. Enter the amount you want to markup your expenses by.

 

Invoice Extras Tab

Include Statement:

You can simultaneous generate an Outstanding Invoices statement while generating an invoice.

 

Show Retainer:

By default, no activity in the retainer account will be shown on the invoice; however, you must check this box if you want to show the retainer balance on all invoices.

 

Show Fee Calculation:

Select this check box to display the percentage used to calculate your project fee. This option is only available when the Percent of Construction invoice method is selected.

 

Show Detailed Draft:

Select this check box to display the draft invoice with detailed time and expense records associated with it.

 

Use Project Specific Invoice Number:

If you want to modify the invoice number for a specific project, just change it here. Checking this option overrides the project number settings in the Preferences screen.

 

Interest Tab

Payment Term:

Choose the payment terms for the project. Payment terms represent the number of days after the creation of the invoice to set the due date. This due date defines when an interest is determined to be late, if unpaid.

 

Interest Term:

Choose the interest terms for the project. Interest terms represent the number of grace period days after the due date, before late interest starts accruing.

 

Annual Rate:

Specify the annual rate to be used for all late interest accrued on unpaid invoices.

 

Compound Interest:

Specify whether or not to use compound interest.

 

Tax Tab

Tax Method:

Use this field to specify a tax model for this project: No Tax, Flat Tax, Two Rates, or time and expense entry Specific.

 

Rate:

Use this field to override the rates set up in Tax preferences. The rate field labels are dependent upon the selected tax method.

Update:

Click this button to apply the new tax model to all time and expense entries for this project that have not yet been billed.

 

Invoice Format Tab

Group By

From the drop-down, choose whether to summarize the items on your invoice by code/phase. Choose None for no summarizations. This option is only available when either the Hourly Rate or Multiple DSE/DPE invoice methods are selected.

 

Time:

Check the Invoice Time check box to invoice your time entries. From the drop-down, choose how to summarize the items on your invoice. Check the relevant check boxes if you want to show billed hours and rates or want to include basic services and additional services in your invoices. This option is only available when either the Hourly Rate or Multiple DSE/DPE invoice methods are selected.

 

Expenses:

Select the Invoice Expense check box to invoice your expense entries. From the drop-down, choose how to display the items on your invoice. If you set the expenses to ‘Summarize by Expense’, this will create a line item under the reimbursable expense section that identifies each expense item separately.

 

Select the relevant check boxes if you want to show billed quantity and rates on your invoices. This option is only available when either the Hourly Rate or Multiple DSE/DPE invoice methods are selected.

 

Balance Due:

You are provided with some options that allow you to control what appears on your invoices. You can choose to show the invoice total or project balance on your invoice.

 

In addition, if your projects allow you to create time entries by selecting from a list of tasks, you can display both the task and description that the employee might have added to the record on your itemized invoices. If the task is blank, it will show the description only. You must check the Show Task option to do that.

 

Invoice Output Tab

Invoice Output:

Choice the output format of the generated invoice (that is, PDF or RTF).

 

Invoice Title:

Enter the title of your invoice.

 

Invoice Message:

Enter the invoice message and check the Display at Top check box to display the message on top of your invoice.

 

Invoice Template:

Specify the template you want to use for your invoice.

Button Panel

Search :

Use this search field to quickly locate projects. The field's predictive search instantly display results as you type in this field

 

Active Only:

Mark this check box to search the active projects only.

 

Previous:

Click to display the previous project record.

 

Next:

Click to display the next project record.

 

Help:

Opens the EngineerOffice Help in the Projects section.

 

Action

 

New:

Select to create a new project.

 

Duplicate:

Select to duplicate an active project record.

 

Delete:

Select to delete a project. This is a secure privilege available only when specifically allowed in the Preferences screen.

 

My List:

Select to view projects assigned to you.

 

List

Select to view a list of all projects.

 

Find:

Use this option to locate projects matching specific criteria, with the resulting Found Set displayed in the List View.

 

Re-Find:

Select to return to the last Find criteria so you can modify the requests before executing the search.

 

See Also