The following provides details on the fields and options on the Global Settings—Billing panel.
Billing
Minimum Bill Amount:
This option enables you to specify a minimum bill amount for Billing Review to process an invoice. The invoice processing will be skipped if the billing amount is less than what is specified here.
Reverse Write-Up/Write-Down When Invoice is Reversed:
When an invoice is reversed, you might want to automatically reverse any write-up/write-down changes that you might have made before processing the invoice. Check this option to do so. This restores the values to pre-Write Up and Down values.
This only affects the write-up and down changes that have been manually
made in the Billing Review screen. Write-up and down made in the time
card screen or through write-up and down screen in Billing Review are
not reversed.
Auto Apply Retainer:
Check this option if you want to record payments automatically as retainer, without applying it to an invoice. When a retainer is applied to client only, it is recorded as Client Retainer while if a project is specified, it is recorded as a Project retainer.
Mark Project Completed When Billed 100%:
If selected, BillQuick Online automatically marks the projects as completed when they are billed 100 percent.
The Contract Amount of a project can be specified in terms of Service Amount and Expense Amount in the Project screen. You can choose to let BillQuick Online automatically mark the project status as Completed when the billed Service Amount is 100 percent in Billing Review or Manual Invoice.
Apply Discount to Pre-Tax Amount:
Selected, the discounts are applied to the amount and then tax is applied to the remaining amount.
Link Time Entry Attachments to Invoices:
BillQuick Online allows you to link automatically the time entry related PDF attachments to the invoices. It considers only the time entries that are associated with the invoices. If this rule is checked, then BillQuick Online links the attachments after processing the invoices in the Billing Review or Manual Invoice screen. You can set or override this rule at the project level as well.
Link Expense Log Attachments to Invoices:
BillQuick Online allows you to automatically link the expense receipts or related PDF attachments to the invoices. It considers only the expense entries that are associated with the invoices. If this rule is checked, then BillQuick Online links the attachments after processing the invoices in the Billing Review or Manual Invoice screen. You can set or override this rule at the project level as well.
Skip Extra Time Entry for Automatic Write-Up/Write-Down:
By default, write-up/write-down is calculated automatically on all the time entries. If this rule is checked, then no write-up/write-down is calculated on the time entries marked as extra.
Restrict Joint Invoices to Parent Projects:
By default, for joint invoicing, BillQuick Online groups the projects based on a common client and parent project. However, using this option, it restricts the joint invoicing to the parent projects only. For example, if ‘Send as Joint Invoice’ option in the Project screen is checked for three phases of a project and two phases of another project (both having a common client), this option does not allow joining all the five phases into a single joint invoice. It considers the parent project for each phase and joins them accordingly.
When this option is unchecked, BillQuick Online automatically creates a single joint invoice for all projects (project phases and standalone projects) of a single client.
URL for Currency Exchange Rate Lookup:
Allows you to set your own currency converter which will be used to set values for currency calculations in the Currency Manager screen. By default, BillQuick Online uses Yahoo's currency converter but you can enter any other web address for it.
Accounts Receivable
Aging Period:
Age of an invoice indicates the time from the date when the invoice is sent to the client till it remains unpaid. Aging period denotes the time interval, which also represents the grace period increment of the outstanding/unpaid invoices with the clients. You can specify the aging period here, which sets the time interval and gets reflected on the aging reports accordingly. This results in customized aging intervals with user-defined length (days) for each sequential period, for example, age the invoices in 30-day increments.
Payment Term:
You can set the payment terms for all your vendors from the drop-down list. Payment terms are created in the Terms screen. They are set at the global level for all the vendors but can be overridden in the Vendor screen.
Default Class:
You can assign a default class at the global level, which is then inherited by all the new projects. Choose a class or add a new one from the drop-down. You can then override it at the project-level.
Interest % Per Month:
The interest information applies to late payments. If you would like to charge 1.25% interest after 30 days, enter 1.25 in this field and 30 in the Charge Interest After field. If you want to adjust the interest charged or grace period extended to delinquent payments for a particular project, do so in Project screen. The interest due for late payments is calculated and displayed on printed statements and in the Invoice Review screen.
When updating the interest rates, you have two options:
Print Statement for Posted Invoices:
Selected, this enables printing of statement for posted invoices where the balance is greater than zero.
Invoices
Show Billing Through on Invoices:
Select this option if you want to view the period to view time entries on the Billing Review screen as Billing through "mm/dd/yy" instead of "From and To" field.
Show Account Summary at the Bottom of an Invoice:
When selected, the invoice displays account summary at the bottom of invoices generated.
Show Retainer Summary on Invoice:
When selected, it displays the retainer summary on the invoices.
Show GST Separately on Invoices:
When selected displays the Goods and Services tax on all invoices.
Email Payment Receipt to the Client:
Selecting this check box will automatically send emails containing invoices to the customers in response to a received payment. This feature sends a "Thank you for your payment." email to the clients or client contacts and attaches the invoice/payment detail report. This report shows the relevant invoice transaction, previous payments, recent payments and balance remaining on that invoice.
Email Retainer Payment Receipts to the Client:
You have the ability to email your customers a payment receipt automatically in response to receiving a retainer. This feature sends a "Thank you for your retainer payment" note to the client or client contact, and attaches the electronic receipt of that retainer payment. This gives your clients a better experience of working with you.
Show Time Entry and Expense Memos on Detailed Invoices:
When selected, displays time entry memos and Expense Log memos in the invoices with details.
Show Time and Expense Memos on Invoice:
When selected, the memo attached to time and expense entries is displayed on the invoice. You will see the check box, Memo on Journal, auto-checked in Sheet View and Simple Time Card.
Show Project Memo on Invoices at the Bottom:
Select this option if you want that the project memo should appear as the second memo of the invoices sent to your client.
Hide Non-Billable Time Entries on Invoice:
When selected, the time entries having no charge against them will not be displayed on the invoices.
Hide Non-Billable Expense Entries on Invoice:
When selected, the expense entries having no charge against them will not be displayed on the invoice.
Show Country in Client Address:
When this option is selected, it displays the country as a part of the client address on the invoices.
Cc Client when Send Invoice to Contact is On:
Check this option if you want the client's email address to be included in the CC field when emailing invoices with the Send Invoices to Contact option checked in Project-Billing tab. Otherwise, BillQuick Online only emails the invoices to the client contact. This option allows you to send a copy of the email to the client as well.
Last Invoice #:
BillQuick Online Billing generates the new invoice number, counting up one unit from the value in this field. You can choose numbers, letters, or a combination of both for the invoice numbers. The value to be incremented is to be kept within curly brackets. For example, if you fill this field with the string ABC-{0020} the next invoice number will have the number ABC-0021. If you would like to manipulate the invoice numbering, enter a number one unit less than what you want to assign to the next invoice you process.
Retainer Invoice #:
Prefix:
Specify the prefix string for the invoice sequence in this field. This will precede the invoice number mentioned above.
Number:
BillQuick Online automatically assigns invoice numbers counting up one unit from the value entered in this field. You can choose numbers, letters, or a combination to track invoices.
Suffix:
Specify here the suffix string for the invoice sequence. This will follow the invoice number mentioned above.
For example, if you fill Prefix with the string ABC, Invoice Number with {0020} and Suffix with LA. The resulting invoice number will be ABC-0021-LA. BillQuick Online will automatically fill Invoice # field when you create a new retainer invoice from Retainer Management or Project screen. If you would like to change the invoice numbering, enter a number one unit less than what you want to assign to the next invoice you process.
Reference Calculation Method
Method:
Allows you to specify methods for electronic invoicing using Structured Creditor Reference based on ISO 11649. The two methods available are: 137 Method and RF Creditor Reference.
Show on Invoices:
Select this check box to include either the 137 Method or RF Creditor Reference numbers on your invoices.