Set up your contract lines to be invoiced on a recurring basis.
In order to invoice recurring contract lines you must leverage Fixed Fees and set them up as such in the Smart Contract Settings of the contract line.
Note that this setting must be done before any time is booked; if the contract line was initially set up as Manual and time was booked against the contract line, you won't be able to change the invoicing type to Recurring.
Once you select it, you will get to define the following parameters:
Start date: On this date PSOhub will automatically invoice this contract line.
End date: This date determines when PSOhub will stop invoicing the contract line. Note that this field is not mandatory. If your recurring fees are renewed automatically on a yearly basis, you can leave it blank. Once the contract is terminated, simply come back to the contract line and specify the End date.
Frequency: You can opt for a monthly or yearly invoicing recurrence.
Note that the Amount that you will specify when creating the fixed fee will be used as the amount automatically invoiced on a recurring basis. That same value will be displayed at the bottom of the Smart contract Settings.
Also note that In the project screen, if you have selected a Monthly recurrence with no End date, PSOhub will display the value of 12 months in the field Total Project Value. If you select a Yearly recurrence, PSOhub will display the value of one year in the field Total Project Value.
Because the invoices will be generated automatically you can decide that you want:
The invoices to be first generated as drafts. This will allow you to review them (modify or even delete them) and then send them yourself. Note that if you delete the invoice, it will not be generated again.
Or to be automatically approved and sent to the customer.
This setting is located in the left section of the project in the field Smart Invoice Status.
Note: If you create a project on Day X with the status at Proposal and set a Fixed Fee as recurring with the start date of the recurrence on Day X, as soon as you change the status of your project to Active, PSOhub will automatically generate the invoice (as draft or approved/sent depending on the settings you will have defined). If your project was already active when you set the recurring contract line with a start date on Day X then PSOhub will still generate the invoice on that day but at 18:00 CET.
Once the invoice is generated you will find it in the Invoices section of your project.
Note that if you have multiple recurring contract lines that are scheduled to be invoiced on the same date, they will all be included on one single invoice.
If it was set as a draft you will be able to open it and make any modification and then approve/send it.
Learn more about modifying an invoice
Learn more about approving/sending an invoice
If your invoice was set up to be approved and sent automatically you will see the invoice number displayed in the left section of the screen. If you do not integrate PSOhub with a financial solution, the invoice will be sent directly to your client.
If you have integrated PSOhub with your financial solution* you will see the number generated by your financial solution in the field Accounting invoice number. In this case the invoice will be first posted to your financial solution where it will, in turn, generate an invoice that will also be sent directly to your client.
*The list of financial softwares PSOhub integrates with is located in the Settings of PSOhub under Integration.
Learn more about how to define your invoice settings (invoice email, default sender, footer, etc):In PSOhub you can leverage smart contracts and have the system automatically generate the invoices for you.