Improved invoicing with TimeLog Project
Project invoicing based on precise time tracking yields better profits, as you are able to invoice more often and can clearly see which projects are most cost-effective.
The core of TimeLog Project is the business process spanning from time tracking via project management to invoicing. This means that when a project is created, the employee has registered time, expenses, travels – or there are rates added to the project – it is quick and easy to create invoices from these registrations.
Let project managers control the project invoicing
The advantage of using the invoicing module in TimeLog Project is that your project managers can make invoice drafts for the bookkeeper. The project manager has the best overview of what customers should be invoiced, and you thereby save time and limit errors in your invoicing.
Another advantage is that the project manager can follow the project economy without logging in to the financial system. This provides a financial overview, and the project manager can have a dialogue with the customer about what is invoiced.
Many advantages by invoicing in timeLog Project:
- Invoicing is easier and less time consuming.
- The accounting department has new opportunities for reconciliation and quality assurance.
- Project managers can create and approve invoices.
- Documentation for the customer is greatly improved.
- Documentation for the customer can be expanded or condensed.
- Management can follow the entire invoicing process.
- Option to split revenue recognition and invoicing.
- Reports show costs, estimated values and realised values.
This way, you get a clearer view of invoicing and finances – and invoicing can be done more often, and more accurately.
At the same time, precise documentation helps avoid many customer disagreements, and you are on solid ground in the event of a dispute.
See a more thougrough description of an invoicing process in TimeLog Project.