How to Use a Progress Billing Arrangement in Sage Timeslips
You use a progress billing arrangement in Sage Timeslips when you want to present several bills to your client over the life of the work you’ve agreed to perform and you want to determine the amount on each bill before you generate it. You enter slips as you work; when you’re ready to generate a bill, you establish the amount for that bill.
From the Arrangement 1 tab of the Client Information window, you can set up a progress billing arrangement for time slips but not for expense slips. In addition, you can choose the Progress Billing: Total option or the Progress Billing: By Activity option.
If you choose the first option, you establish a flat fee that covers all time slips. If you select the second option, as you set the flat fee amount, Timeslips displays the tasks of the slips available for billing and you assign amounts for each task.
To set up the progress billing arrangement’s first flat fee, click the Edit button beside the billing arrangement to display the Progress Billing dialog box. In the example, you see the Progress Billing: Total dialog box.
For the first progress bill in a series of progress bills, focus on the amounts in the WIP (work in process) and Available WIP boxes. The WIP box shows you, in dollars, how much work you’ve accumulated to date. In this example, Timeslips displays the $750 in fees that appear on the bill for PQR, Inc.. The Available WIP box indicates the total value of unbilled slips.
You set the flat fee amount in the New Charges box. You can manually type any amount or click the Apply Available WIP button to charge the amount equal to the value of unbilled slips. The amount of $1000 was supplied, and Timeslips adjusted the Available WIP amount to –$250 because it’s charging $250 more than the amount available for billing on slips.
When you produce the first bill in a series of progress bills, it looks like the one shown in the example.
Although you enter slips as you work, Timeslips doesn’t display the slips on the first bill you generate or on subsequent bills while the project is in progress.
For each progress bill you want to generate, you repeat the process of opening the Progress Billing dialog box and supplying an amount in the New Charges box. After you approve the first bill, Timeslips changes the Status in the Progress Billing dialog box from First Bill to In Progress.
In addition, the Billed Charges box displays the amount you’ve billed the client so that you can compare slip values with billed amounts as you set flat fee amounts.
When you want to prepare the last bill of the progress billing arrangement, you again open the Progress Billing dialog box. Manually change the status to Final Bill and set a flat fee amount in the New Charges dialog box.
When you produce the bill, Timeslips prints all of the slips you’ve entered for the billing arrangement on the bill, along with the total amount you charged for those slips, as well as new charges or a credit for overcharges. The first shows a final bill that includes new charges, and the second shows a final bill that applies a credit for overcharges.
When you approve the final bill, Timeslips updates the timekeeper history and billed slip values of all slips covered by the progress billing arrangement. Be aware, though, that the final bill doesn’t end the process; you can apply any difference between the billed amount and the slip value amount on a later progress bill.
You use the Progress Billing: By Activity option in the same way that you use the Progress Billing: Total option. Only the dialog box where you set the flat fee amounts per bill changes in appearance; it lists the tasks assigned to slips you’ve entered for the selected client.
In this dialog box, you click a task or category and then click either the Apply Available WIP button or the Open button. If you click Apply Available WIP, Timeslips sets up the new charges for the upcoming bill as the Available WIP amount.
If you click the Open button, Timeslips displays the Progress Billing Group Entry dialog box shown, where you supply the amount you want to bill in the New Charges box.
Everything else about the two progress billing arrangements works in the same manner. No slips appear on any progress bills until you generate the final bill, and you still have the option of applying a credit for overcharges.