I am a draftsman, and sell time as my only billable item.
There are occasions when I will work on projects by-the-hour, and other times when I will provide a fixed quote for a project, and regardless of hours spent, the fixed price remains… fixed.
Just looking for some advice on how would be best to structure the invoicing for each ‘billing type’. I track my hours externally of Manager; as far as I am aware - Manager has no time-sheet feature?
So for by-the-hour projects, I track my hours, and at project completion (or at the end of each month), I will enter my hours into the Billable Time module, and create the invoice as such (showing hours spent, hourly rate, tax & total).
How would you guys recommend I approach/configure invoicing for fixed price projects? I would still like to track hours spent, but for the invoice I would like to only show the invoice value, and exclude hours spend & rate.
Thanks a lot for any help.
Read the Guide about setting up as a self-employed services provider. It tells you how to structure your chart of accounts.
The Billable Time tab is perfect for recording your hours every day. Why use a separate system?
Thanks a lot for the reply & suggestion Tut.
I am now working through that guide and setting up Manager as suggested.
One thing I wanted to note, the reason I have used Billable Time as I have (total hours for a project) is to simplify invoice presentation. Following your suggestion, to track hours for each day, would result in each day of billable time being a separate line/item on the invoice, which is not preferred. With that in mind, I prefer to track project hours externally, and enter them into the Billable Time tab at the conclusion of the project (or end of month). Is my understanding of that correct?
Of course it would be handy to use a time sheet module within Manager, tracking daily hours spend on each project. But it seems that this is not yet supported.
Ps: how do you recommend I record my fixed-price invoice items? The guide you linked to suggests they will be recorded in the Sales (Service sales - fixed rate) account, but I’m not clear on how best to create an invoice-able for the fixed-price items.
You can enter billable time at whatever interval you want. It works the same way.
For standardized fixed price services, define non-inventory items linked to the Service sales - fixed rate account.