4. How to manage complex billing arrangements?

In previous articles, we have seen how to estimate costs, monitor budget overruns and the implications on invoicing and finally manage cash flow better by getting paid more quickly. In this article, we explore complex invoicing methods: due dates & deposits, multiple addresses and entities but also electronic invoicing! Discover the links to all the articles in the file below:

Multiple due dates management with instalments

When a project runs over a long period, it is important to optimize cash flow by negotiating deadlines with the client. Often, a deposit is invoiced at the start of the project, then different stages of progress serve as triggers for the publication of additional invoices, until the balance is invoiced.

For this type of invoicing to be correctly used, the deadlines must be determined at the start of the project. For each of the deadlines, it must be defined whether it is triggered based on a date or the completion of a deliverable. 

Invoicing to an entity different from that of the project

Sometimes projects for specific clients are billed to other companies. Although the project client is Company ABC, invoicing goes to Company XYZ. Reporting must make it possible to reconcile these discrepancies.

Complex billing addresses

Some businesses, especially large businesses, often have multiple billing addresses. Depending on the client entity, or the type of service, the billing address and recipient may differ. It is necessary to register all existing billing addresses.

When creating the project, you must then confirm to which customer billing addresses the invoices should be sent.

Here again, project invoicing software makes it possible to simplify the structure of the databases and the steps for configuring the invoicing of a project.

Electronic invoicing

In the context of electronic invoicing in different European countries, it is necessary to ensure that the project invoicing software allows invoices to be generated in the legally required formats.

The 9 problems of project invoicing and how Stafiz helps you solve them?

1. How to estimate costs, prices and billing type for a billable project?

2. How to manage the risks of project overruns ?

3. How to get paid faster by customers?

4. How to manage complex billing arrangements

5. How to take into account the invoicing of taxes? and multi-currency billing?

6. How to manage invoicing between different entities of the same company (interco flow)

7. How to simplify communication with customers?

8. How can certain parameters be modified during projects that will impact invoicing?

9. How to set up a project quote and invoicing tool?

The 9 problems of project invoicing