Processing Billing Invoices

Use the Billing application to process and generate invoices for your clients based on the labor, expenses, and fees charged to a project or group of projects.

You initially create draft invoices that can be reviewed and modified before you final accept them for posting and sending to clients. If you use an approval process for billing invoices, draft invoices must be submitted and approved before you can final accept them.

You can produce billing invoices one at a time by project, or produce invoices for multiple projects at a time in a batch in the Billing application:

• Interactive Billing: You create and review draft invoices one at a time per project. You decide which transactions to bill, hold, write-off, modify, or transfer for a project. You also final accept draft invoices one at a time in Interactive Billing.
• Batch Billing: You generate a group of draft or final accepted invoices. When you produce invoices this way, you cannot modify the transactions to include on the invoices, such as holding, writing off, or transferring transactions to another project, before the invoices are generated. You must do that in Interactive Billing before you process a batch of invoices in Batch Billing.

If your enterprise generates a large number of invoices, consider creating draft invoices in Batch Billing so you can review what is included on each invoice. Then, in Interactive Billing, you can make modifications to the invoices as needed before you accept and produce the final invoices.

Invoices are produced using the billing terms that you specify for a project and other information that you enter in the Projects, Firms, and Employees hubs. The billing terms allow you to choose a method for automatically calculating billing amounts on invoices. Invoices can include any of the following: previously posted labor, expense, and unit transactions and fees.

When you create invoices in Interactive Billing or Batch Billing, Vantagepoint automatically creates a transaction file when you accept the invoice. You then access and post that file in the Transaction Center.

If you do not use the Vantagepoint Billing application, you can create your invoice in a word processing program, and then enter and post the invoice file in the Vantagepoint Transaction Center.

Approving Invoices

If you use an approval process for invoices, you can also submit invoices for approval and approve invoices in Interactive Billing or Batch Billing. For more information, see Approving Invoices.

Security

Your security role's settings determine whether or not you can generate invoices for a project and whether or not you have the security privileges to hold, write off, delete, insert, transfer, or modify transactions for invoicing in Interactive Billing.

Multiple Currencies

For information, see Billing and Multiple Currencies.

Multiple Companies

For information, see Billing and Multiple Companies.