Managing different billing methods for various projects can be complex, especially when dealing with multiple clients and billing structures. Invoice Crowd's Project Billing Methods feature allows you to customize how you charge for your work, ensuring flexibility and alignment with your business needs.
Invoice Crowd offers four distinct billing methods:
- Fixed Cost for Project
- Based on Project Hours
- Based on Task Hours
- Based on Staff Hours
Steps to Set Project Billing Method
1. Access Billing Settings
- Navigate to Worklog → Projects.
- Select the project for which you want to configure billing.
- Click on the Billing tab.
2. Choose Billing Method
Select one of the following billing methods based on your needs:
a. Fixed Cost for Project
- Set a single fixed price for the entire project.
- Best suited for projects with a clearly defined scope.
- Action: Enter the total project cost.
b. Based on Project Hours
- Bill based on the total hours worked on the project.
- Action: Set an hourly rate for the project.
- The system will automatically calculate the total based on logged hours.
c. Based on Task Hours
- Assign different rates for different tasks.
- Action: Set individual hourly rates for each task.
- Ideal for projects requiring specialized billing for specific task types.
d. Based on Staff Hours
- Assign different rates for each team member.
- Action: Set individual hourly rates for each staff member.
- Best for teams with varying expertise levels or rates.
3. Configure Rate Settings
- Enter the appropriate rates based on your selected billing method.
- Specify the currency for your rates.
- Configure any additional billing parameters as needed.
Automatic Invoice Calculation
Once the billing method is set:
- The system will automatically calculate invoices based on your selected method.
- For hourly billing methods, it will factor in logged time entries for projects, tasks, or staff.
- For fixed-cost projects, it will use the predefined project cost.