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Invoicing Overview

[Professional, Premier]

 

Invoicing is available to all Mavenlink Professional and Premier customers on both new and existing projects. With Mavenlink’s flexible invoicing tool, you have the option to submit purely Fixed Fee invoices, Time and Materials (T&M) or a blended invoice with both Time and Materials and Fixed Fee items. This means you don’t have to know in advance of creating your project which billing method you and your clients prefer.

The online invoicing feature links all project work, such as Tasks, Deliverables, and Milestones to the billing process. When you create a new project, Mavenlink will ask which “Default Task Billing Type” you prefer. This option sets the default billing type (Fixed Fee or Time and Materials) for all of the Task, Deliverables and Milestones in your project. Once the project is created, you can always change billing types later under Project Settings. Changing this default in the settings area will only affect new tasks created, not existing ones.

HOW WILL IT HELP YOU?

The value of invoicing in Mavenlink is that you don’t have to use a third party invoicing tool, helping you manage your projects, time and expenses and billing all from one place.

GETTING STARTED

With Mavenlink’s Invoicing tool, you can brand each invoice you create with the appropriate company logo and address as well set a default payment schedule, tax rate, and currency for your invoices. To access these settings hover on Settings in the left hand navigation and select Invoices.

 

Once you have time entries and or expenses that you’re ready to invoice, hover on Billing from the left-hand navigation and select Invoices. You can choose to invoice for a single project or across projects by client.

Create an invoice for a single project

Select the project you are billing for and add any information you want to include, such as an invoice title, project code, purchase order, tax, date, payment schedule, and any notes that you need to apply. Mavenlink will automatically increment the invoice number, so you can start the number anywhere and it will increment from there, or you can opt to manually update the invoice number each time.

If you need to add additional details with rich text formatting, open the Add Additional Details Rich-Text option. These will appear at the bottom of your invoice.

You can organize the individual time-based line items in different ways by selecting Grouped by person, then task, Grouped by task, or Detailed in the Time Formatting section. Each option will allow you select individual details that should appear on your invoice.

Select individual line items from Time Entries, Fixed Fee Items, and Expenses to add to the invoice. If approval is required, items will not appear until they are approved.

 

You also have an option to add any additional items that might not be entered in the Mavenlink project.

Once you’ve added all the required information and line items, you can choose to Send the invoice or Save as Draft, which allows you to return later to make changes or add more information. You can also Preview the invoice at any point or Clear, which will remove any information you’ve added or options selected and allow you to start over.

When you Send, Save as Draft, or Preview, you’ll be able to view the Invoice, including current status.

When you Send the invoice, a message will appear in the project Activity Feed.

 

You can take action on the invoice from the activity feed, once you Mark as Paid, you will see an updated message in the activity feed and when you view the invoice in the future, you will see the updated status.

 

Invoice across project by client

When you choose to invoice across projects by client, you’ll be prompted to select a Recipient instead of a project.

Before you can select individual line items, you’ll be asked to specify which projects, associated with the recipient, you’d like to select from. All other options will remain the same.

Invoice Defaults

The first time you save or send an an invoice on a project with a client, you’ll be asked if you wish to save your settings, including Additional Details and Time Formatting options as the default for the client. The next time you select that client, or a project associated with that client, all your previous settings and additional details will load and you won’t need to re-select the appropriate options each time you invoice the client.

Need to change defaults? No problem, if you make any changes to the Additional Details or Time Formatting options, you’ll be asked if you want to update the default for this recipient or maintain the previous defaults you had saved.

WHAT THE MAVENS KNOW

To get started using Mavenlink’s invoicing functionality, navigate to the Invoice section of Account Settings. You must be an Account Admin to access this section of Mavenlink. From here, you can upload a logo that will appear on your invoice, set the address, default currency, payment schedule and default tax rate. Doing these steps during the initial system setup phase will ensure your information is up to date before payment gets processed.

When you’re ready to create your first invoice, you can access invoicing from the “Payment” tab of the Project Admin Box or by clicking the “Create” icon on the left-hand navigation and selecting “New Invoice.” From here, select the appropriate project or projects, add some time entries, fixed fee items, or additional items and you’re ready to go! Click “Send” to post the invoice in your project and notify your client. If you’d like to send the invoice to someone not in Mavenlink, you can export the invoice by clicking on the appropriate invoice link (found on the table of invoices in the “Billing” section) and selecting the appropriate export option.

To learn more, read the Time Tracking and Expenses and Billing Overview articles.

Related video: Time Tracking, Expense Tracking and Invoicing

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