Invoicing and finance

  • A better financial overview for the project managers
  • Less administration of invoicing
  • Exact documentation on projects
  • Financial analyses of projects and customers
  • Integration with your financial system

 

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.
  • 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.
  • A full financial overview of all your projects
  • Management gets the best basis for decision making

The more exact your time tracking is, the more exact invoicing potential, so you can invoice more or see if you sell your time too cheap.

At the same time, the exact documentation helps avoid many customer disagreements, and you are on solid ground in the event of a dispute, as you have all data in one place.

See a more thougrough description of an invoicing process in TimeLog Project.

 

In a former company we increased the revenue with €270,000 by using TimeLog Project to analyse the profitability on all our projects.

Mikael Rasmussen

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