Fixed Billing Guide

Fixed Billing in ProWorkflow is a simple and straightforward affair under our Financial Suite of tools. You'll first want to ensure you have your project created, although you can create your Quote first.

For the fixed billing method, because we aren't really using any calculated values, you may feel as though rate information doesnt need to be entered. For billing purposes, this is true, although it may be helpful to add such details for planning reasons that we'll touch on shortly.

Once your items have been outlined, go to the Financial Tab. The Bill Total column represents what you expect to charge your client. We'll want to change that setting to 'Fixed Fee'. This puts one value as your expected revenue across the whole project.

While you may already have a clear idea as to the value of your Project based on client negotations etc, it can be helpful to look at the Cost and Budget column when determining these values.

Cost can tell you, using your allocated hours, how much the project will cost in terms of expenses and staff overheads. You can use either a per item or per staff cost rate in doing so. This figure would be extremely useful/critical if your billing is based on a 'cost plus' model of pricing.

The Budgeted column, on the other hand, will inform you how much your project might theoretically have been billed at under an hourly model. It will calculate your potential charge amounts based on assigned rates and allocated hours, and as such, provide a figure that describes where you otherwise might have priced the project. You may want to take this value and round up slightly, as this will provide roughly the same profit margins, while also providing some padding if any activities end up going overtime/project costs otherwise increase.

Quoting requires very little work at this time. You just need to create the quote from the project, and a single item will be shown/pulled through. It may look something like the below. If a fully fleshed-out project schedule is still required, this may be better produced as its own separate document.

Invoicing is a similarly straightforward task. Once you have created a new invoice, choose the 'Fixed/Billable Price' option and then proceed.

Your invoice will be totalled in a single item, and can now be sent to your client/accounting platform for payment.