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Invoicing and finance

Invoicing: Create profitable projects

With an overview of your project finances, the consultants’ time and efficient tools for smooth invoicing, you can keep your budgets and increase the invoicing percentage.

Invoicing is crucial for your consultancy company. And invoicing based on accurate time tracking yields better profits and provides a better overview, as you are able to invoice more often, can clearly see which projects are most cost-effective and you get better at pricing projects in the future.

Earlier, we found out too late, if we weren’t making profits on a project. With TimeLog we can react right away.
Jacob Olsen CFO, Mølbak Read the case

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The core of TimeLog is the business process spanning from time tracking via project management to invoicing. This means that when all registrations are made on the project, it is easy and quick to create invoices based on these registrations.

You thereby avoid wasting your time on information collection from several systems, following up on time consumption or investigating when customers are ready for invoicing.

Get a solution that matches your organisation’s different needs

Your solution should meet the different departments’ needs. The tools your project managers need are not the same as the accounting department demands.

Invoicing is never a stand-alone process. With TimeLog PSA, you support, optimise and link all your processes and can almost instantly improve your project economy.

Easily turn billable hours into invoices

In TimeLog, the project manager gets a full overview of the project, the agreements with the customer and the project’s invoicing potential. Therefore, the project manager is in an ideal position to create invoices for the customer.

At the turn of the month or when the time for payment gets closer, the project manager can quickly see how many hours are added to the project at which price and all the depreciations.

With just a few clicks, the project manager selects which hours to invoice, and TimeLog creates an invoice draft that can be transferred to the accounting system.

This ensures that no invoices are forgotten and you maximise your invoicing potential.

We are now more aware of how we manage the business. With our key figure reports, we always know how far we are on specific KPIs.
Hans Jørgen Nielsen CFO, DGE > Read the case

You have a huge potential for growth, are you ready to unlock it?

TimeLog PSA is a unique business system for all companies that live on selling their time, expertise and knowledge. When it comes to invoicing, we help your consultancy company:

  • Manage expenses, revenue, outlays, costs and cash flow
  • Save time, reduce errors and minimise administrative trouble while strengthening the cooperation between project and finance with automation and integrations to other systems
  • Create a common operational picture, where everyone is 100% up to date on the finances, budgets and time consumption on projects. Then you can stay within the budget and you get more profitable projects
  • Track all work hours on all tasks and projects. Then you know, if the project is on track, and you get better at estimating and pricing your projects all the time.
One click invoicing

Invoice faster with One Click Invoicing 

In our Invoicing Advanced solution, you get a number of invoice templates that form the basis of your invoices. As soon as you have linked the templates to a customer or a project, TimeLog automatically starts to collect the relevant information, and you avoid manual entry work. 

Each month your invoice potential is gathered in one overview, and once you’ve approved it, you produce the invoices with just a few clicks. 

One click invoicing
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What's the benefits from invoicing in TimeLog?

All companies are more complex than you think, and therefore you often need a solution that can handle all your administrative procedures without breaking in the middle. TimeLog is built to handle the complex processes in your company and offers the tools you need to:

  • Increase the invoicing percentage, because all work time is tracked
  • Form a better basis for decision making with data in real-time to better forecast and control the cash flow
  • Get through the end of the month faster with e.g. invoice drafts, expense tracking, approval flows and automation
  • Give project managers more flexibility with up to eight settlement types supporting the needs for contract and value management
  • Get tools for internal invoicing between more branch offices and legal entities
  • Get automated calculation of work in process with our revenue recognition
  • The options for automatic rounding of billable hours, where it is possible to round up to nearest 5, 10, 15 or 30 minutes or the nearest hour

Get started today!

TimeLog has more than 20 years of experience and is one of Europe’s leading PSA platforms. We help you get started with e.g.:

  • Workshops with focus on setup, implementation and use of the system
  • Help Center with guides, how to articles and videos
  • Interactive guides in the system, so you can quickly train new employees
  • Courses (online or on site) and online support which all help you reap all the benefits from using the system

You can book a presentation online or test TimeLog for free for 30 days.