Invoicing & Finances

Blank invoice = An invoice created out of scratch without a project.

Project invoice = Is created for a project with added costs (invoicing material), such as the hours tracked to the project and invoice bills, invoice project-related expenses and travel expenses.

Invoice material = Invoice material is all costs that have been generated to a project and can be reimbursed on a customer invoice. Invoiceable material can be bills, expenses, travel expenses, scheduled and automated invoices, and sales quotes.

Scheduled invoicing = Invoice rows can be added to invoicing material, including the selling price, bills, expenses and travel expenses. Scheduled invoicing can be used for example when a project has been sold at a contract price or is invoiced in instalments. The invoicing rows added to scheduled invoicing will appear on the sales invoices and invoicing material after Invoice date.

Automated invoice = Taimer automatically creates an invoice to pending mode, and thus the invoice has been created ready to be sent. You can also specify whether to add other costs posted to the project directly to an automatic invoice.

Project & Sales

Sales pipeline = Project status. The project is given a status according to the stage it is in the sales and production process in the organisation. Every sales pipeline also has their own stages.

Stages = The sales pipeline can be divided into smaller stages of the process with the use of stages.

Net Profit = The amount of income that remains after accounting for all the bills, expenses, additional income streams, and operating costs.

Gross Profit = The amount of income that remains after accounting for all the bills, expenses, additional income streams, and operating costs, not including internal hourly own cost.

Cost estimate = a calculation of the total cost of a product or project, based on information relating to the price of materials, labour, etc.

Actual Project Margin = the calculative margin of a project, for which the following formula has been used: Budgeted costs – bills, expenses, and travel costs. Gross Margin includes hourly own costs accrued from time entries.

Actual Gross Margin = the calculative margin of a project, for which the following formula has been used: Budgeted costs – bills, expenses, and travel costs. Gross Margin does not include hourly own cots accrued from time entries.

Resourcing & Resource Management

Internal hourly own cost = The expense set to a user’s information (€/h)

Resource allocation = Combined sum of hours, which is the sum that consists of the sum of the hours of each task.

Actual expenses = A feature in the Finances tab on the project card through which the actual expenses can be seen. Expenses consist of hours, targeted bills, expenses and travel expenses.

Product specification (CPQ) = is the sales configurator, with which products can be combined into wholes.

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