Internal hours also have a cost!
Save time by managing both internal and external invoicing in the same system.
In some organisations there is a need to do internal invoicing between departments. Often the intercompany invoicing is managed in the financial system or an Excel sheet, as it might be complicated to keep track of. We have made it possible to manage intercompany invoicing so you can ensure both the internal settlement and have the opportunity to pass the costs on to your customers.
Get an overview of the internal accounts
With intercompany invoicing it is easy to keep track of the internal hours that you buy from each other. In TimeLog, you can choose to see the potential for a possible intercompany invoicing and then work with the data in a different way, or you can choose to invoice the other department directly in the system.
This ABC analysis (Activity Based Costing) makes it visible how much time the different departments borrow from each other. This is a breeding ground for interesting dialogues internally in the organisation.
Invoicing internal work externally
You can invoice an internal task to your customers. In this way, your internal department gets paid for their services which are passed on to a customer as external costs, just as if you would invoice external consultants on your projects.
In principle, this will create a double revenue, as you invoice the time both internally and externally, but you can choose that the internal department does not show in the monthly or yearly reporting, so you have the right overview of your financial situation all the time.