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Time and Material Billing

By
Palani Durai
on 7/10/15, 5:31 AM 482 views

Hi Folks,

I have a typical scenario on Project Time and Material Billing, Can someone help me to handle this

Scenario

Project Type : Supply, Install & Training of Equipment 

Billing should be done at 3 different stages : Supply 50%, Installation 40% & Training 10 %

The Total Value of the Contract is for the Materials only

I have created a Project & Analytic Account on the Sales part i have created Sales Order, if i bill the as per sales order it will 100% billing of Material, is there any way i can bill Proportion of the Contract value with Materials 

Let us the contract Value is $ 150,000 for which i have 10 different products & multiple quantities, in the stage 1 i have to bill for 50% of the Contract though i have supplied the complete material &  stage 2, Stage 3 thereon.

Thanks in advance, your help would be highly appreciable

Regards

Palani









0
Yulia
On 4/4/17, 4:57 AM

Time and material definition

The Time and material billing is an approach when a client pays for all billing materials and hours, which were spent on the project. If I were a client I would boil over. It could take them an eternity to develop it! And I have to pay for this? No, thank you. Nevertheless, this method is as popular as the Fixed Price. It happens because a client supervises the whole process and sees how much time was spent on every feature and pays only after a thorough discussion. Read more at

https://www.cleveroad.com/blog/time-and-material-vs-fixed-price--hot-discussion-of-the-best-pricing-model

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Asked: 7/10/15, 5:31 AM
Seen: 482 times
Last updated: 4/4/17, 4:57 AM