You can assign a Delayed SFS to a project to handle specific situations in which the bill rate changes based on a trigger event (related to project retainer balance, recurring amount, unbilled hours or unbilled amount). With a Delayed SFS assigned to a project, BillQuick Online applies the regular SFS rates to time entries until the trigger (specified in the Project-Billing screen) prompts the delayed fee schedule. This schedule typically contains higher rates.
A company can use a Delayed SFS when offering prepaid services to clients. For example, an IT company can offer a discounted bill rate for purchasing a certain number of hours or dollar value of help desk, remote assistance or on-demand consulting services. You would probably pre-sell a service; accept advanced payment from a client; use a SFS for discounted bill rates (that expires when the prepaid amount is used). Employees or vendors charge their hours to these prepaid service projects until the trigger value reaches. Then onwards, BillQuick Online automatically replaces the regular SFS in the Rate Hierarchy with the Delayed SFS.
The trigger type tells BillQuick Online what to look at when deciding whether to use the rates in the regular SFS, the Delayed SFS, or the default rates for the employee. Different companies track the prepayment and its usage in different ways. If the trigger is based on a retainer amount received, the retainer available is the key amount. If it is more than $0, then BillQuick Online will use the regular SFS or employee rates; if the retainer bucket is empty, then BillQuick Online will apply Delayed SFS rates to hours charged to a project.
Other companies can use unbilled hours or other options as the trigger type. Triggers are set in the Project-Billing screen and include:
Unused Retainer – Triggered when the bill value of time entries charged to a project exceeds the Retainer Available (check on Project-Accounts screen).
Recurring Amount – Triggered when the bill value of time entries charged to a project exceeds the Recurring Amount for the project.
Unbilled Hours – Triggered when the sum of hours charged to a project exceeds the specified trigger value (set in the Hours/Amount field).
Unbilled Amount – Triggered when the bill value of time entries charged to a project exceeds the specified trigger value (set in the Hours or Amount field).