Use the options on this tab to configure billing settings such as billing frequency, fee schedules, terms and budgets.
Following are descriptions for each Project-Billing tab fields:
Billing
Recurring Bill Amount:
Recurring invoice amount per scheduled frequency for projects or project phases with Recurring, Recurring With Cap or Recurring + Expenses contract type. You can use this field to set the bill amount per scheduled frequency.
Frequency:
If a project has a Recurring, Recurring with Cap or Recurring + Expenses contract type, use this field to set the frequency that the recurring bill amount will be invoiced.
Retainage:
This field contains the percentage of invoice amounts that a client will hold back against verification of work complete and work quality. The accumulated retainage amount will be paid after the verification is done.
Max. Retainage Amount:
This field contains the maximum amount to be retained by a client for the project. Billed amounts above the maximum retainage are due from the client as per the project contract.
In the Billing Review, the Net Bill Amount is computed as (simplified):
Net Bill Amount = Billable Amount - Retainage - Discount - Applied Retainer
Minimum Retainer:
Some professionals, like attorneys and paralegals, need to specify a minimum retainer amount for a project. This minimum amount can be triggered when time and expenses are approved for billing. When a retainer is applied on invoices, you can auto-request a new retainer payment from a client to replenish the retainer amount on hand (Retainer Available). BillQuick Online displays a list of projects in the Reminder screen as well as reports whose retainer balances are less than the minimum retainer specified here.
Schedules/Budget
Service Fee Schedule:
Any SFS can be linked to a project. A service fee schedule enables you
to override default employee bill and cost rates for selected employee-activity
combinations, whether individual items or groups. The linked Service Fee
Schedule will be used to determine rates when time entries are made to
the project. Time entry rates can also be determined by rates specified
in Activity and Employee screen. The priority goes to SFS, then employee
rates and finally the rates from activity table are fetched. You can also
add a new SFS here on the fly by clicking
.
Expense FS:
Any EFS can be linked to a project. An expense fee schedule allows you
to define employee-expense combinations, whether individual items or group
items. The linked Expense Fee Schedule will be used to determine the cost
and the markup when expense entries are made to the project. The priority
goes to EFS, then employee rates and finally the rates from expense table
are fetched. You can also add a new EFS here on the fly by clicking.
Budget:
Any budget
can be linked to a project. The assigned budget will be used on reports,
and to restrict time and expense entries that are recorded to a project.
To restrict time and expense entries by a budget, you can check the relevant
options on the Project-Detail
screen. You can create a budget by clicking on the link provided-this
will open the Budget screen. You can also add a new budget here on the
fly by clicking.
For the top or parent level project, BillQuick Online automatically combines the budget of the child projects and presents you with the overall cumulative project budget. It has the ability to show rolled-up budget for parent projects, which is a combination of all phases grouped by activity/expense and employee. For the main parent projects, this drop-down is disabled but you can use the View Cumulative Budget link that opens up the rolled-up editable budget. For the active parent projects, you can open the assigned budget, with the option to view the rolled-up, cumulative data. The cumulative budgets are editable. For the Project ID with multiple phases, the line items cannot be edited.
Estimate:
Any estimate
can be linked to a project. An estimate is a good way to track the expected
revenue or cost of a project. You can create an estimate by clicking on
the link provided-this opens the Estimate screen. You can also add a new
estimate here on the fly by clicking.
BillQuick Online has the ability to show rolled-up estimate for parent projects, which is a combination of all phases grouped by activity or expense. For the main parent projects, this drop-down is disabled but you can use the View Cumulative Estimate link that opens up the rolled-up , read-only estimate. For the active parent projects, you can open the assigned estimate, with the option to view the rolled-up, cumulative data. The cumulative budgets are non-editable.
Delayed Fee Schedule
Delayed SFS:
Any Service Fee Schedule can be linked to a project. A delayed SFS enables you to assign a different fee schedule to a project in case there is no retainer amount left (retainer is equal to zero). This linked Delayed Service Fee Schedule will be triggered and put to use to determine bill rates, only when time entries are made to the project having no retainer amount associated with it and has been assigned a delayed SFS to it. Time Entry rates can otherwise be determined by rates specified in Activity Codes and Employee screen. In Time Entry Sheet View, Calendar View and Timer, the program checks for the Retainer Available and on that basis, uses the bill rates from the normal SFS or the Delayed SFS, as specified in the related Project profile.
Trigger Type:
You can specify the type of trigger to apply the delayed SFS to a project. The options available are: unused retainer, recurring amount, unbilled hours and unbilled amount. For example, if you want to specify that the delayed SFS should be used if the unused recurring amount is 0, then you choose trigger type 'Unused retainer and specify the value in the next field as 0.
Trigger Value:
The value to be used with the trigger type based on which the delayed SFS is attached to the project.
Terms/Currency
Payment Term:
You can set the payment terms for the project by selecting the term from
the drop-down list. The available options are Net 30, Net 45, Net 60,
Net 90.
Currency:
BillQuick Online supports multi-currency for invoicing the clients. Select the desired currency that you want to use for invoicing the client for the specific project. Currency selected here will override the one set at the client level.
Misc
Ret Amount:
If a retainer is required, enter the amount here. This is simply stored
as reference information for the project; it does not record the retainer
payment. After the retainer payment is received, it is to be entered in
the Payment screen in BillQuick Online. To review any remaining retainer
amount for a project, check the Project-Accounts tab. The retainer applied
to the main project will be distributed to the phases based on the % of Total Project field data of
the phase, just as the Contract Amount. For instance, if the retainer
applied to the Main Project is $1000 and the phase is 50% of the main
project, then the retainer for the phase is $500. However, you can re-distribute
this amount to the phases as desired. You must click 
to print, preview or cancel the desired retainer invoice. BillQuick Online
prompts you to add the retainer record to Retainer Management.
Code:
Several agencies require that each project be assigned a standard code according to their Job Profile Codes. This field can be used to assign such codes and then be used as a filter when printing reports. Some common codes are used by Federal Agencies on the SF-254 and 330 forms.
Contact :
If you want to assign a contact to the project that is not the client's
main contact, select that contact here. You can also click the 
icon to create a new contact from here.
If left blank, the main contact for the client that this project is assigned to will be used. Client contact specified here overrides the Main Client Contact recorded in the Client screen. In addition, the address of the project contact overrides the client address and prints on invoices.
If you want to assign a client contact as the project contact, select one from the drop-down list. If left blank, the main contact for the client that this project is assigned to will be used. Clients are assigned to projects on the project general tab. Client contact specified here overrides the Main Client Contact recorded in the Client screen. In addition, the address of the project contact overrides the client address and prints on invoices. You can also add a new contact from here, by clicking the Add New option in the drop-down list.
Send Invoices to Contact:
Selected, will send the invoice to the client's Contact which is selected in the Contact drop-down list. Generally, the invoices pull the client's Main Contact but using this option, Client's Contact supersedes the client's Main Contact.
If you email invoices to the client from the Invoice
Review screen while the Send Invoices
to Contact option is checked, BillQuick Online adds the client
contact's email address in the To
field and the client's email address in the CC
field of the email (provided the option Cc
Client when Send Invoice to Contact is On is checked in Global
Settings-Billing). Thus, the email is sent to the client as well as
the client contact.
Options
Send as Joint Invoices:
When you select this option, BillQuick Online sends all the invoices of a project as a joint invoice. It is also known as a consolidated or combined invoice. This option is especially relevant for project phases.
Use Custom Invoice Number:
Select this option, if you want to customize the invoice numbering of a particular project. These settings will take precedence over the invoice settings specified in Global settings screen, but for this particular project only. The invoice numbers can be either numerals or alphanumeric.
Email Invoices:
This option allows you to send project invoices to a client as PDF file attachments automatically via email.
Prefix:
Specify here the prefix string for the invoice sequence. This will precede the invoice number. For the ease of remembrance you can keep something which relates to Project like Project ID or even Client ID, for example, MSP2021.
Suffix:
Specify here the suffix string for the invoice sequence. This will follow the invoice number mentioned above, for example, LA. The resulting invoice number will be MSP2021-001-LA. Both the prefix and suffix strings will remain static.
Last Invoice No:
The last invoice number of the series where from you want to initialize the invoice sequence, say 001. This number will start incrementing when you generate a new invoice for the project.
Auto Bill:
Opens the Automatic Billing screen where you can set frequency for automatic billing.