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How to set up automatic invoicing?
Automatic invoicing of installments with due dates
Automatic invoicing of installments with due dates

Learn how to invoice fixed amounts based on installments and dates.

Julie Bennett avatar
Written by Julie Bennett
Updated over a week ago

Updated October 2023

Installment with due dates

Fixed Fees will allow you to book time towards a contract line whilst invoicing a fixed amount; i.e. the value of the booked hours does not influence the amount to be invoiced.

In PSOhub, define the fixed fee and click on the Invoicing tab to set up the installment schedule:

In the Invoicing tab, select the Installments invoicing type:

The option Installments will allow you to automatically invoice a fixed amount in installments or milestones based on specific dates. Once you select it, PSOhub will prompt you to define the installments. In the Add field, enter the number of required installments and click Create.

In this example, two installments have been added, creating two invoice schedule lines above.

Field

Description

Due date

Enter the date for the number of installments. PSOhub will automatically invoice the installments on this date.

%

This is where you specify the percentage of the amount to be invoiced for this installment. The amount used for the calculation is the one defined in the Amount field of the fixed fee contract line.

Description

The description entered here will be displayed next to the contract line name

on the invoice.

Amount

This field displays the value of the amount multiplied by the percentage (%).

Invoiced

Once this installment is invoiced, PSOhub will display the amount that was invoiced.

Until an installment is invoiced, you can change its due date. You can also modify its percentage to invoice as long as the total value of all installments still equals the amount of the fixed fee contract line; i.e. you will most probably need to modify the remaining installment(s).

Also, note that if you deactivate a contract line defined as a Fixed Fee with installments, it will no longer be invoiced.

Important: that once time is booked towards a contract line, it is no longer possible to change the invoice type.

Invoicing

Because the invoice will be generated automatically you can decide on the following:

  • The invoice to be first generated as a draft. This will allow you to review it, modify and then send it yourself or even delete it. 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-hand pane of the project in the SMART Invoice Status field.

Once the invoice is generated you will find it in the Invoices section of your project.

Note: that if you have multiple installments 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.

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 Accounting invoice number field. 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.
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* The list of financial software PSOhub integrates with is located in the Marketplace & Integrations settings.

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.

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