The Project Allocated Revenue and Cost Plus Billing project types allow for fixed and time and materials (T&M) projects, respectively. In addition, you can set up reimbursable expense jobs to bill projects for reimbursable expenses (such as travel, mileage, and hotels) incurred on jobs.

For fixed contract or cost of construction projects, you can calculate invoice billing amounts based on the percentage of revenue allocated per bill code for each job. The phases of a project are represented by bill codes, which define the amount of revenue allocated and billed per phase. The Project Allocated Revenue project type is used exclusively for fixed projects.

For T&M projects, you can bill project labor on an hourly basis, based on a flat rate per hour, using profit types and/or labor rates. You can also apply non-labor transactions. The Project Trx Level project type is used for Cost Plus jobs.

The setup and billing processes differ between Fixed and T&M projects. Refer to the appropriate section below for more information.

Loading