Maconomy Information Center

Project Invoicing

The final part of the order-to-invoice workflow is invoicing.

Invoices are prepared in Maconomy based on all time, expense, and external cost entries posted to the project. Because PMs have full responsibility for project financials, they will are responsible for preparing the invoice suggestion, leaving finance to check and send out the actual invoice.

PMs can see all projects for which they are responsible, divided between time and material projects and fixed-price projects. The open billing shows how much is ready to be invoiced.

The PM’s job is now to ensure for all projects that invoices are completed, meaning that the PM has reviewed the entries for invoicing and edited the text for the invoices.

After selecting a project, you go to the following window, which shows all entries that are ready for invoicing.

You can drill down for more detail before you decide how much to invoice, write off, or carry forward to the following month.

After you select the entries for invoicing, a draft is created where you can edit the layout of the invoice and include additional information on the invoice, as long as total invoice figures remain the same. When you are finished, click the Close Editing button. Finance is notified via a To-Do and can subsequently print the invoices.

Fixed-price projects are typically invoiced according to a payment plan.

Invoicing functionality includes:

  • Time and materials invoicing, including the ability to invoice, write off, or carry forward to the next period.
  • Invoice layout rules to determine how the entries should be sorted and presented on the customer invoice.
  • Invoice plans that show a payment plan agreed to by the customer and subsequently invoiced on account.
  • The ability to base invoice plans on invoicing dates or milestones.
  • Draft printing functionality for PMs.
  • The ability for the Finance Department to post and print all invoices approved in one batch.
  • The ability for PMs to view previously printed invoices sent to the customer on the project at any time.