Before starting
It is now possible to manage invoice milestones for your billable projects, so as to confirm the amounts to invoice as they become due.
Project managers have two responsibilities:
- Confirming or extending due invoice milestones.
- Ensuring that the project selling price and its schedule are up to date, if services are canceled or added.
This help sheet explains how to manage the invoice milestones for a project.
Note: To set up the access rights to invoicing modules, go to the cogwheel at the top right > Roles, or ask our help desk.
Contents:
- Adding a milestone
- Confirming a milestone
- Postponing a milestone
- Editing the schedule
- Setting up a default invoice schedule
Adding a milestone
To create invoice milestones, open the project in question from Timmi Projects > Projects, go to the Invoicing tab, and click on Add a milestone.
Name the milestone, select a date, enter the invoice amount, and save.
Add as many milestones as necessary.
Confirming a milestone
The project manager must confirm or postpone the invoice milestones as the project progresses.
Confirming via the project
When a due invoice milestone is not confirmed, a warning is displayed in the Invoicing tab of the project. This warning appears as an orange dot next to the tab's heading.
Click on the Confirm milestonebutton to confirm that the milestone can be invoiced.
Confirming via reminders
Unconfirmed due invoice milestones also appear in Lucca reminders in the yellow square at the top right. You can confirm these using the Confirm in one click link.
Postponing a milestone
To postpone a milestone, click on the three dots at the bottom right, and then on Edit.
Change the date of the milestone, then save.
Editing the schedule
If a service is canceled or added, please remember to:
- update the project selling price accordingly (the part in question is deducted or added)
- update the schedule so that the total amount of the milestones is equal to the project selling price
A warning appears in the Invoicing tab if there is a difference between the total amount of the milestones and the selling price.
To edit or delete a milestone, click on the three dots at the bottom right of the milestone, and then click on the required action.
Note: If the milestones have already been invoiced but one part has been canceled, a negative milestone (credit note) must be created to ensure the client is reimbursed for the canceled part.
Setting up a default invoice schedule
If you have the same invoice milestones for different projects under a fixed rate. You can set up a default schedule.
To do this, go to the Settings tab > Schedule:
This saves you from having to create invoice milestones when creating a new project, although, as indicated in the screenshot above, these milestones can still be edited for each new project.
The following items are required to add a default milestone:
- Milestone name
- The date at which it becomes due, i.e. the percentage of the project duration at which the milestone becomes due. For example, for a two-month project, if a percentage of 50% of the project duration is entered, the milestone date will be at the end of the first month.
- The milestone amount, i.e. the percentage of the project selling price for this milestone.
Therefore, the total amount of all milestones must be equal to the project selling price, so that your default schedule represents the totality of the project.