4. How to manage complex billing arrangements?

In previous articles, we've looked at how to estimate costs, monitor budget overruns and their implications for invoicing, and finally manage cash flow by getting paid more quickly. In this article, we explore complex invoicing methods: due dates & instalments, multiple addresses and entities, and even electronic invoicing! Discover the links to all the articles in the dossier below:

Multiple due dates management with instalments

When a project runs over a long period, it's important to optimize cash flow by negotiating deadlines with the customer. Often, a deposit is invoiced at the start of the project, then various stages of progress are used as triggers for additional invoices, until the balance is invoiced.

For this type of invoicing to be used correctly, deadlines must be defined at the start of the project. For each deadline, you need to define whether it is triggered by a date or by the completion of a deliverable. 

Billing to an entity other than the project entity

Projects for specific customers are sometimes billed to other companies. Although the project's customer is company ABC, the invoice is sent to company XYZ. Reporting must reconcile these discrepancies.

Complex billing addresses

Some companies, particularly large ones, often have several 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 the project is created, it is then necessary to confirm to which of the customer's billing addresses the invoices are to be sent.

Here again, project billing software can simplify the database structure, and the steps involved in setting up project billing parameters.

Electronic invoicing

In the context of electronic invoicing in the various European countries, we need to make sure that our project invoicing software can generate invoices in the formats required by law.

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

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

2. How to manage the risk of project overruns?

3. How can I get paid faster by my customers?

4. How to manage complex billing arrangements

5. How do you handle tax billing and multi-currency billing?

6. How to manage invoicing between different entities within the same company (inter-company flows)

7. How can we simplify communication with our customers?

8. How can I change certain parameters during the course of a project that will have an impact on invoicing?

9. How do I set up a project quotation and invoicing tool?

The 9 problems of project billing