![]() ![]() You can generate billings for construction projects in a format similar to that approved by the American Institute of Architects (AIA). Create AIA compliant billing with Progress Billing ![]() When invoices are created, there are factors in the project configuration to determine what method is used for determining when it is time to invoice the project. The difference between your budgeted amounts and usage costs displays in the Difference field. As you post usage amounts against a task, you will see amounts increment in the Total Usage Cost field in the Project sub-form. For Fixed and Time & Material projects, you can create invoices using Create Project Invoices (see: How to create Project Invoices, Sales Invoices (see: Direct Invoicing - Sales Invoice page or Invoice Suggestion, and for Percent Complete, you can create invoices using the Percent Complete Billing page (see: Percent Complete).Īs budgets are created for these tasks on projects, you will see amounts increment in in the Total Budget Cost (LCY) field of the Project sub-form. In the Project Card you can set the invoicing type for Resources, Items, or Expenses to invoice using Fixed, Time & Material or Percent Complete. In the Project Plan > Project Subform tab, you have the option of creating tasks with a Contract Type of either Fixed or T&M (and a project can be mixed - some tasks as Fixed and some tasks as T&M. Options include Fixed Price, T&M (Time & Materials) and Percent Complete. You can define billing methods for each project, or even at the task level. There are many ways that customers can set up billing options with Progressus. Video: Project Card Bill-to & Sell-to Functionality in Progressus Advanced Projects Billing Method Options Sell-To, Bill-to and Ship-to Addressesįor information on the Project Card Bill-to defaults and where they are used, see: Be sure that your agreement states that you retain certain rights to a production until payment is received in full.If you select Billable in the Project Line Type field on the purchase documents for project-related purchases, the system creates project transaction lines that are ready to be invoiced to the customer. Closeout - A final bill that reflects any change orders should be generated at the completion of a project.Some choose to watermark projects until at least 66% of a project’s budget is received. Postproduction - Once editing begins, another progress payment should be issued.Do not hand off project footage until at least 50% of a project’s budget is in hand. Be sure that you have received some form of payment before production begins. This is typically the most expensive stage of a project. Production - I recommend the submittal of an invoice once shooting begins.Issue a progress payment upon delivery of final preproduction items to the client. Tie a progress payment to the deliver of the script or other relevant preproduction tasks. Preproduction - This stage encompasses the bulk of project planning.Project Initiation - Once the project scope and budget is agreed upon, a deposit for 20% of the project should be submitted.This helps you by keeping your work funded and ensures that the client knows what’s going on financially. If a project has an extremely short timeline or does not involve a full-service production (such as shooting only) then adjust your payment schedule. Typically, I recommend the use up to five, equal payments. Second, by splitting the financial payments across progress you ensure protection for your financial security. First, it gives your client confidence that you have motivation to complete the work and show progress. The benefits of progress payments are many. Every video or photo project should be split into progress payments. While you may not be comfortable talking about money, your client will be a lot happier if there are clear expectations that define the business terms. Billing is one of those subjects that can often be an uncomfortable conversation.
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