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Invoice Types
- 15 Jan 2023
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Invoice Types
- Updated on 15 Jan 2023
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There are eight invoice types in Aspire each driving different functions in the billing process. Three invoice types are available for contracts and five for work orders as shown in the table below. You specify the invoice type when creating an opportunity. Note that the fifth invoice type for work orders, T&M Per Service, can only be assigned to services within an opportunity whose invoice type is Fixed Price Open Billing, whereas the other seven can all be assigned to opportunities.
See the article Fixed Price Open Billing – Specifying Exact Amount to Invoice for more information.
For contracts, while you specify the invoice type at the opportunity level, they may specify different invoice types for the individual services within the contract as follows:
- Fixed Payment contracts may have services with invoice type of T&M or Per Service
- T&M contracts may have services with invoice type of Per Service
- Per Service contracts may have services with invoice type of T&M
For work orders, Aspire generally requires that the opportunity type of the individual services match the invoice type of the opportunity. The one exception is that for work orders with invoice type of Fixed Price Open Billing, individual services may have their invoice type changed to T&M Per Service.
| Opportunity Type | Invoice Type | Description |
|---|---|---|
| Contract | Fixed Payment | For fixed-payment services, Aspire will recommend invoicing in the Invoicing Assistant according to the payment schedule you establish when creating the estimate on the contract opportunity. The total payment amount that is broken into payments for the opportunity is based on the sum of all fixed payment services for the contract. |
| Per Service | Per Service invoicing is used to bill as work is done on a contract based on price estimated (not T&M). When a ticket is marked as complete, Aspire will recommend invoicing in the Invoicing Assistant for the associated service. The entry will be available in the Invoicing Assistant from the ticket completion date until it is applied to an invoice. | |
| T&M (Time and Materials) | T&M invoicing is based on time spent and materials used on a ticket as recorded in Aspire. Once a ticket for a T&M service has been completed, it will become available for invoicing through the Invoicing Assistant and will remain available until it has been applied to an invoice. | |
| Work Order | Fixed Price on Completion | Fixed Price on Completion invoicing is used to the bill when all tickets on the work order have been completed. Once the final work ticket on the work order has been marked as complete, Aspire will recommend the invoice in the Invoicing Assistant. This invoice type allows you to specify on the Invoicing Info screen whether item details should be displayed on invoices, and if so, whether to display details based on the estimate or on actual labor and materials. |
| Fixed Price Open Billing | This type is used when a job would span over a longer time period with an unpredictable schedule that requires varied progress billing. It is primarily used with construction/design/build jobs. This invoice type allows you to define a schedule of values – a structure that defines how the different elements of the job are represented on the customer’s invoice. | |
| T&M on Completion | Aspire will recommend this invoice type in the Invoicing Assistant only when all work tickets on the job are completed and approved. Invoices are based upon actual time and materials (T&M) reported to the job. | |
| Fixed Price on Payment Schedule | This is like Fixed Price Open Billing except it has a pre-agreed payment schedule usually based on percentage complete. | |
| T&M Per Service | This invoice type cannot be specified at the opportunity service level – only for services in the estimate for work orders whose invoice type is Fixed Price Open Billing. The work tickets created from these services can be invoiced on a time and materials basis when they have been completed. |
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