Billing - Overview
With Thread, you can easily generate bills / invoices to clients for the time you have logged on file activities, or using a fixed fee for a file (see issuing fixed fee bills).
To create a new a bill (either fixed fee, or including activities with hourly rates) go to the file Financial - Bills tab.
When generating an hourly rate bill, the cost of each activity is based on the time logged and the rate charged.
- Follow the steps to log time for file activities, and then include activities in a bill.
- If you have expenses relating to the file, you can include them in the bill to recover payment.
- Once ready, you can issue the bill to generate the bill document.
If you don't need to include any activities in a bill, but just want to issue a bill for a set value, you can create a Quick Bill (set value of a quick bill will only apply if a file does not have a fixed fee - if the file is set at a fixed fee, the issued bill value will always show the fixed fee amount).
The file must have a primary client linked to it. The bill will automatically be linked to the primary client.
You can edit the bill when needed to update the name, VAT and hourly rates before it is issued.
Once you issued the bill, the financial details on your file Summary page will show the Bills Issued value with the outstanding balance for the file.
Should you need to make further changes to the bill once it has been issued, you must first unissue the bill (this will not be possible if your Thread is integrated with Quill, Quickbooks or Xero accounting package).
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