Overview
Fixed price open billing is an invoice type in Aspire that allows you to invoice your customer for part of or the entire amount of a work order at any time. This makes it the most flexible invoicing option available!
Fixed price open billing work orders use a schedule of values (SOV): an itemized list of the costs of services on the work order. The SOV breaks large, complex projects into manageable pieces for invoicing and payments. This invoice type helps your customers understand what they're paying for and builds trust.
In this article, we'll follow GreenScene, a landscaping company bidding a major construction project for Vanderbrook HOA. Since construction projects often involve multiple phases and changes along the way, GreenScene created a work order with a fixed price open billing invoice type. This way, if the project scope or timeline changes, GreenScene can adjust invoices to reflect additional work as the project progresses. Watch the video below or keep reading to learn more!
Training Video
Things to know
Fixed price open billing work orders support progress-based billing, so you can break down costs in a way that makes the most sense for you and your customer.
The schedule of values can be grouped by either group headers or services on the estimate, depending on your system configuration.
The total difference in the SOV summary must be zero before you can save changes to the schedule of values.
Change orders can only be created for work orders with a status of In Production.
Requirements
You will need an existing opportunity with a property already associated before you begin.
To view opportunities to generate estimates, you’ll need either View My Opportunities or View Opportunities added to your user role.
To edit estimates, you’ll need either Edit My Opportunities, or Edit All Opportunities added to your user role.
To Win a Work Order, you’ll need Win Work Orders added to your user role.
To modify the master schedule of values after an opportunity is won, your user role must include the Modify SOV after opportunity is won permission.
Steps
Edit the schedule of values
We will use an example that already has created the work order opportunity using fixed price open billing as the invoice type and completed the estimate. Now it's time to edit the schedule of values!
On the Estimate screen, select the action menu to open the action menu.
Select Edit Schedule of Values.
Review the current line items. Depending on your system configuration, the SOV is grouped by either group headers or services from the estimate.
To rename a line item, select the service name and enter the new name.
Add a line item to the schedule of values
Vanderbrook HOA wants to split the patio construction costs across two invoices. To do this, GreenScene needs to add another line item and divide the cost.
Select the plus icon next to an existing line item to add a new group.
Rename the original line item.
In our example, Green Scene changes "Patio Construction" to "Phase One Patio Construction."
Enter a name once you have added another new line item.
Note:
A new line item added this way isn't linked to a service on the estimate. The Link to Service checkbox won't be selected for manually added lines.
In the Quantity field for the new line item, enter the dollar amount.
In the Unit Price field, enter "1" so the amount is factored into the SOV correctly.
After adding the new amount, the SOV summary shows an overage. Adjust the remaining line items so the total difference equals zero.
Important:
You can't save the schedule of values until the total difference in the SOV summary is zero.
Delete and reorder line items
You can also customize the SOV layout before saving.
To delete a line item, select the trash icon next to it.
To reorder line items, drag the grid icon on the line you want to move and drop it in the new position.
When you're finished editing the schedule of values, select Save in the upper-right corner of the screen. This takes you back to the Estimate screen.
Add a retainage percentage
Vanderbrook HOA has requested a retainage since this is a large, expensive project. Retainage is only available for fixed price open billing work orders.
On the Opportunity screen, select the info icon next to the Invoice Type to open the Invoicing Info window.
In the Retainage field, enter the retainage percentage.
Note: Adding a retainage percentage affects invoices for fixed price open billing work orders. For more information on how retainage affects invoicing, see Retaining Invoicing.
Create a change order
After GreenScene wins the opportunity, Vanderbrook HOA requests a revision to the original scope of work. GreenScene needs to update the estimate to include the additional services.
On the Opportunity screen, open the action menu.
Select Add Change Order.
Complete the change order details as needed.
As the project progresses, GreenScene may need to add more change orders. The master schedule of values and the net schedule of values help project managers keep track of everything.
To learn more about change orders in Aspire, see Creating a change order on work order opportunities.
Use the master schedule of values
The master schedule of values combines the SOV for the original work order and any change orders that have been won. For a large project like GreenScene's work with Vanderbrook HOA — where multiple change orders are likely — this screen simplifies tracking and adjustments.
On the Opportunity screen (after the opportunity is won), open the action menu.
Select Master Schedule of Values.
On the Master Schedule of Values screen, you can:
View the dollar amount and percentage invoiced for each line item and group.
Delete, add, rename, and reorder groups and line items.
Transfer funds between line items, as long as the amount doesn't exceed the invoiced amount.
Export or print the master SOV from the action menu.
Go to the Invoice Open Billing screen to complete invoices.
Important: Line items that have already been invoiced are read-only and can't be changed.
Use the net schedule of values
The net schedule of values gives you a quick view of all work orders and change orders, regardless of whether they've been won.
On the Schedule of Values screen, open the action menu.
Select Net Schedule of Values.
Note: Unlike the master schedule of values, you can't view invoicing information or edit the net schedule of values.
Read more about the Master Schedule of Values, Net Schedule of Values, and Schedule of Values screens for Fixed Price Open Billing Work Orders.
What happens next
After you save the schedule of values and win the opportunity, you can start invoicing your customer based on the SOV line items. As the project progresses — like GreenScene's work with Vanderbrook HOA — use change orders to account for scope changes and the master schedule of values to keep everything on track.