Create Your Time and Material Invoice Template for Finance Effortlessly

Time and material invoice template for Finance

[Music] okay so let's head on to a time material doing rule when you head down to my time and material project and head out to the project contract okay so I'll create my time and material billing rule so there's not much to do up here all the magic happens down here so this is where we get the flexibility to include projects and project categories that feed this particular building rule I've only got this project so let's included here and then from a chargeable category perspective this is where you can get clever and say alright I need to do XY and Z but I can't build for other types of activities so let's say I can build for my consulting time and I can build for let's say some p.m. time so I'll include those categories so essentially just choose the categories that you want to include over here and what I won't bill for is apprentice time I'll leave that one over here so that's how I'm going to set it up and I'll throw some transactions on the project you so I'll just create an Alice journal and I'll throw some lines out here so first one is consulting we already did that I know that one's included so it's 10 hours of consulting let's do some p.m. work and apprentice so let's say I've got an apprentice working on the project with me but they're not invoice alas onse choose somebody there so and I can even choose somebody else not that it matters much but I've got an apprentice working on the project I've got the PM working on the project and I've got myself is the consultant working on the project so I will post not okay now when I head over to the building rule head back out to my project contract and invoice it's gonna bring in my billing rule TM and it's gonna say alright what am i invoicing on the project notice I have two transactions two hourly transactions that have popped through the consultant and the PM the apprentice time did not come through because it's not set up to be included in the billing role so the billing rule gives you the flexibility to include or exclude project categories from the invoice let me post this again if you manage contract status it's because it's time of material it doesn't necessarily have a contract value associated to it but it will keep track of any amount that you vent list and retainage as well without a contract value it doesn't keep track of remaining or percent complete but the TM does give you the flexibility really to include any category you want in a specific building rule you can set up multiple TN billing rules on a project as well so if you want it all labor to come through one billing walk you set up a billing rule with all the labor categories associated to it another one with all the expenses associated to it may be a third one with all subcontractors associated to it so you have the ability to separate those three on an invoice basis and if you need to just invoice for expenses it's very easy to just go out there and invoice that billing rule it basically takes away the need to go out there and pick and choose which hours and expense transactions you need to include on your invoices especially if you have hundreds and hundreds coming through in any billing period it could certainly help wrap some parameters and rules around how those transactions get invoiced and pull them in a little bit easier [Music]