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Home > Other Features > Project Costing, Billing and Invoicing

Project Costing, Billing and Invoicing

Once you have assigned resources to the project, because resources have a cost associated with them, you can immediately see the total labour cost estimate for the project.  Subsequent changes to the resourcing (skills, people, time) have an immediate effect on total costs.

Add in your disbursements (expenses), sub-contract and materials costs - even time spent on unscheduled activities - and the whole picture is constantly updated.

If you are charging a customer for the time spent, you can see the total estimated revenue: even if you don't charge on a "time and materials" basis, you can still use this value as the basis for calculating your fees.  And, of course, all the additional costs can also be made selectively chargeable (with optional markups) too.

The charge rates which are applied on a given project can be:

• standard tariff rates (you can have as many tariffs as you want, which can be date-based);

• specified for the skills on the project;

• set for each of the people working on the project.

When timesheets are completed and processed, the actual hours (and any expenses) are added into the project and, where applicable, the actual charges are made available for invoicing.  If your charges are on a fixed fee basis, you can link fees to the completion of certain tasks: when the task is marked as complete, the fee becomes available for invoicing.

4c's batch invoice facility lets you create all the invoices in one go, and issue them if required.  Invoices created in 4c can be exported to a third-party system.

As a result, your customers can be invoiced for work that was done in one week before the end of the following week - just think what effect that could have on your cashflow!

The 4c Project Summary shows the budget or "frozen" costs and charges, the current forecasts (based on actual progress) and the actual values.  It also shows current margins, invoiceable and invoiced amounts, and Work in Progress.

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