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Billing Periods

Assign a billing period to include project invoices in relevant pay applications.

Zack Beveridge avatar
Written by Zack Beveridge
Updated over a week ago

What is a Billing Period?

A project's billing period is the date range in which costs are billed for ongoing work, and at the end of the period, an application for payment is made for those costs.

The project billing periods are also referred to as: draw dates, payment application period, billing cycle, billing window, progress billing period, and more...

Managing Project Billing Periods

All of the billing periods for a given project can be managed from the project settings. The project settings are accessible from the βš™οΈ Settings icon on the project page, or invoice view where the project name is referenced. You can also view a projects settings by going to βš™οΈ Settings > Projects > πŸ“ Edit.

Once you've accessed the project settings, you can βž• Add or πŸ“ Edit the current billing periods.

Adding a Billing Period

Once in the project settings, find the section labeled Add Billing Period.

Here you can select a πŸ“… Start Date and πŸ“… End Date, the click the βž• Add button to commit the new billing period.

πŸ’‘ A new billing period can also be created from the selection dropdown when assigning a period during the invoice review process.

Editing an Existing Billing Period

From the project settings, find the section labeled Current Billing Periods. Here, all available billing periods for a given project will be listed. To πŸ—‘οΈ Delete, πŸ“ Edit, or βœ… Open / βœ–οΈ Close a billing period use the πŸ”½ Dropdown to the right of the relevant billing period. From here you have the option to πŸ“ Edit or πŸ—‘οΈ Delete.

When πŸ“ Editing a billing period, use the fields to make your desired changes. Use the βœ… Confirm or βœ–οΈ Cancel buttons to finalize any adjustments.

Deleting an Existing Billing Period

Billing periods can be deleted using πŸ”½ Actions dropdown and selecting πŸ—‘οΈ Delete. However, any billing period with assigned invoices, change orders, or contracts will not be able to be deleted until those documents are reassigned to another billing period.

An easy way to reassign the billing period for multiple invoices is through the Accounts Payable center. Select the relevant invoices πŸ”½ Options > Edit Selected > Billing Period. Once reassigned, you can return to deleting the billing period from the project settings.

Assign a Billing Period

inBox

When reviewing an invoice through the inBox, the billing period can be assigned by using the πŸ”½ Assign a Billing Period dropdown that is found just below the approvers section. If the desired billing period is not found, a new one can be made by selecting the Create New option.

Accounts Payable

Through the Accounts Payable center, the billing period can be updated for a single document, or in bulk if a number of adjustments need to be made at once.

πŸ’‘ A great way to sort the invoices by billing period is through the advanced filter feature in the Accounts Payable tab.

Single Invoice

After finding and opening the relevant invoice, navigate to the Assign tab to view the currently assigned billing period. Click πŸ“ Edit and make a selection in the πŸ”½ Assign Billing Period dropdown. Once finished, click πŸ’Ύ Save to confirm your changes.

Bulk Edit

Find an β˜‘οΈ Select all of the invoices you wish to update. Click the πŸ”½ Options dropdown and πŸ“ Edit Selected. This will open a popup window (below) that contains selectors for πŸ”½ Billing Period and πŸ”½ Status. To update the Billing Period, select an existing entry or create a new one, then πŸ’Ύ Save.

Unbilled invoices

Assignment of a billing period is not mandatory. For example, if receiving an invoice early, while the previous billing is still open, you can leave the document in an Not Billed state to prevent contamination of currently billed amounts.

These invoices can be retrieved through the Accounts Payable center using the πŸ”½ Add Filter dropdown > πŸ”½ Billing Period. From the newly added πŸ”½ Billing Period filter, you can select the β˜‘οΈ Not Billed option to view any invoices in that state.

FAQs

Will each billing period be correlated with each project?

No, billing periods are unique to each project within inBuild.

Are billing periods pre-set for projects?

No, projects come without any set billing periods. These will be set by the user as the project progresses.

Are there any other places within the app where you can assign billing periods?

You can assign a billing period during the invoice review process or through the Accounts Payable center.

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