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I have a fixed price contract where every month I create an invoice for the customer based on the value specified in the contract. There any way to make these invoices are created automatically every month?

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Did you take a look at Recurring Documents module? But I'm not sure it is compatible with contracts.

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Check out trunk version of account_analytic_account module - it has recurring invoices from contracts build-in. If you use v7, you shouldn't have any trouble migrating code to that, as our company did that without a problem.

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