Upfront invoices can be included on all reports. Project or Sub Project level reports include the pre-billing invoice values by default. When using the pre-billing placeholder transaction the transaction reports can show the pre-billing values as well.
Getting Started
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Setup required before use |
Who Can Use It? | Where Is It? |
|---|---|---|
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Project manager Director Administrator System Administrator |
Project > Invoices tab > Open the Invoice |
Some of my revenue reports don’t appear to be correct? Could this be related to the way we create invoices?
When you are invoicing a client in advance, you need to make sure that you include a pre-billing placeholder transaction. Adding this transaction to an invoice ensures that the Project and Transaction revenue report outputs match in Synergy. If the placeholder transaction is not included for the project invoice then there can be mismatches in the reports. The process required to add a pre-billing placeholder transaction varies based on the Sub Project fee type:
Tip: Learn more about how to use the pre-billing placeholder transaction.
Pre-Billing setup overview
Normally invoices are created once transactions (time and expenses) have been entered against a project. Pre-billing or advance invoices are created prior to transaction being entered. When the pre-billing invoice is created a note is entered to make it obvious that it has been created in advance of the work being completed.
Click the image above to view a fixed fee sub project on a pre-billing invoice.
Click the image above to view an hourly rate sub project on a pre-billing invoice.
The invoice above is being pre-billed for work that will be completed in July 2014. To ensure that revenue shows for this invoice in transaction level reports, a placeholder transaction is created for July and allocated to the sub project. For Fixed Fee & Percent of Project fee types this placeholder transaction is created automatically for pre-billing invoices. For Hourly Rates and Capped Rates fee types the pre-billing placeholder must be created manually using an Office Item expense. Once the actual work for July has been completed, the "real" transactions are attached to the invoice using the pre-billing and revenue recognition feature and the placeholder transaction is deleted from the project.
Click the image above to view a Fixed Fee sub project with a pre-billing placeholder transaction.
Click the image above to view an Hourly Rate sub project with an Office Expense item being used as the pre-billing placeholder.
Reports including pre-billing transactions
Many reports do not look at the transaction total values when displaying the invoiced revenue. The project or sub project reports show the correct invoiced value whether or not you have created the pre-billing transaction. See the example below for the 'Project Summary Report' for the project that the pre-billing invoice was created for July 2014.
Click the image above to view the Project Summary Report.
When running transaction reports it is important to have the pre-billing transaction included within the project. See an example of the 'Transaction Summary Report' run for the same project that the pre-billing invoice was created for July 2014 above. Having the pre-billing invoice placeholder transaction on this invoice is what is making the invoice totals match.
Click the image above to view the Transaction Summary Report.
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