This article will ensure you're up to date on your projects invoicing. Create invoices that encompass Deposits, Fixed Price, Time & Materials or Manual entries.
This Invoicing feature is located within each project, so you can create invoices on specific projects, which you can then bill to your clients. The main function of this Beta Invoicing is so that you can keep track of what has been billed and what has not it. Essentially, its purpose is so that Project Managers and their Accounting departments can be 100% aligned.
You can integrate your 3rd party financial applications in Forecast, e.g. QuickBooks Online and export Forecast invoices to these systems. Learn more here.
Please Note: This guide is written for permission levels of Controller and Admin.
Step 1: Access a desired Project
Step 2: From the sub-menu click on the three dots icon and select Invoicing.
Step 3: Click the Create New Invoice button in the top right hand corner. Once clicked, a modal will popup.
Step 4: Select the type of invoice you would like to create. You can choose between:
Step 5: Once you've determined the type of invoice you want, proceed to fill out the pertinent information for the invoice.
1. Name of the invoice e.g. the name of the project and the date range could be used. Required
2. Invoice reference number e.g. project number.
3. Add the Date the invoice is created and the date by which the invoice is due.
4. Add Notes i.e. Invoice 1 of 4 for retainer projects (you can also mention someone from the team here using the @)
5. Set the Tax for this invoice, this will be the default number.
6. Set the Discount, this will be the default number.
7. Click Next.
Step 6: Group the Invoice Line Items. This is only applicable for invoices of the Time & Materials type.
You can group by:
Step 7: Select the billable date range.
Step 8: Add or remove any Invoice Line Items and click Done. The invoice draft is now created.
As long as an invoice is in draft it can always be edited.
Step 9: Click on the invoice to review.
Step 10: Once you have reviewed and approved the invoice, change the status to: Approved, Sent or Draft. Keep in mind that an Invoice that is set to Approved or Sent can not be edited, unless it is changed back to Draft first.
Step 11: Duplicate, delete or export. Click on the three dot icon to either duplicate or delete the invoice. You can also click on the download icon and export the invoice as a csv. file which you can share with your accounting team.