Set up your contract lines to be invoiced based on installments.
In order to invoice fixed amounts based on installments 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 Installment with due dates.
Once you select it, PSOhub will ask you that you define the installments. To start click on Add new line.
The following lines will now be displayed:
Due date: On this date PSOhub will automatically invoice the installment.
To invoice (%): This is where you specify the percentage of the Amount to be invoiced for this installment. Note that PSOhub will use the value entered in the Amount field of the fixed fee contract line.
Description: The description entered here will be displayed on the invoice.
Amount: This field displays the value of the Amount multiplied by the percentage To invoice (%).
Invoiced: Once this installment is invoiced, PSOhub will display the amount that was invoiced.
Note: 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 likely 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.
Because the invoice will be generated automatically you can decide that you want:
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 section of the project in the field Smart Invoice Status.
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.
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.