Billing Schedule Overview [Early Access] – Kantata Knowledge Base

Project Permissions: View Financials, Edit Financials, Project Administrator

EARLY ACCESS!

The Billing Schedule feature is now available in Early Access, giving users like you the opportunity to adopt new features early and manage change for your organization. To get started, have an Account Administrator activate the feature from the Early Access page. Once you add billing milestones to an invoice, you will not be able to deactivate this feature.

In the future, you’ll be able to see when invoices have been paid, add different billing types—like billing milestones that are based on associated tasks being completed—to your Billing Schedule, include billing milestones in integrations, see billing milestones in Insights, and more!

Overview

The Billing Schedule feature gives you clear, real-time visibility into your project’s invoicing and payment-related activities.

With this schedule, you can:

Separate your fixed fee billing milestones from your project plan
Include invoicing dates on your schedule
See which billing milestones clients have been billed for
Find out which fixed fee invoices are outstanding and possibly overdue

All of this helps you to more effectively follow up on overdue invoices and manage cash flow.

Note: Soon anyone with Edit Financials access in a project can opt in on the Notifications Settings page to receive notifications when a billing milestone reaches the date to invoice.

Billing Schedule Page.png

To access the Billing Schedule, all users with View Financials and higher Project Permissions can navigate to the Financials tab in the project.

Note: You will need to set your project budget before you can start adding items to your billing schedule.

How to Configure Columns for Billing Schedule

You can decide which columns you want to be visible by clicking the Configure Columns (“ ”) icon above the Billing Schedule table.

The following columns are available:

Title—This is the name of the billing milestone you’ve added to your schedule. We recommend giving clear, unique names that will help clients understand what they’re being billed for as you are sending invoices.
Amount—This is the amount that you will be billing clients for this billing milestone.
Date to Invoice—This is the date you have set that you can send your client an invoice for this billing milestone.
Budget %—Based on the amount set and the project’s budget, you can identify how much of the project budget will be billed for with each billing milestone.
Note: If the sum of your billing milestones is higher than the amount set for your project budget, the percentage will add up to more than 100%.
Invoiced—This column shows if you have added this billing milestone to an invoice and sent it to your client.

In addition to the columns that can be configured, you also have an Actions column that is always visible, which allows you to edit and delete billing milestones from your schedule.

How to Manage a Billing Schedule

Before You Begin
The following items are required in order to view and manage a billing schedule:

A project budget must be set

Users with Edit Financials or Project Administrator Project Permissions can add, edit, and delete billing milestones on the project’s Billing Schedule.

In the project you want to manage a billing schedule for, select the Financials tab.
To add a billing milestone to your schedule, click the Add (“ ”) icon in the top-right and enter the following information in the Create Billing Milestone modal:
- Title—The name of the billing milestone you are creating.
- Date to Invoice—The date you plan to send an invoice to the client for this billing milestone.
- Amount—How much you will be invoicing the client when this billing milestone is complete.
Click Save when finished.
To edit a billing milestone, click the Edit (“ ”) icon and update information in the Edit Billing Milestone modal.
To remove a billing milestone from your schedule, click the Delete (“ ”) icon and click Delete in the Delete Billing Milestone modal to confirm that you want to permanently delete this billing milestone and remove it from your billing schedule.

Note: Once you have included a billing milestone in an invoice you can no longer edit or delete it, which means these icons will no longer appear in the Actions column for the invoiced billing milestones.

Invoicing Billing Milestones

Note: Billing milestones are not currently supported in integrations or the API.

Once a billing milestone on your Billing Schedule has reached its date to invoice, you can add them to your invoices to bill your clients. You can add billing milestones by themselves or in addition to time entries, expenses, expense budgets, and additional items.

Billing Milestones in Invoices.png

For information on invoicing billing milestones, see Create an Invoice for a Single Project or Create an Invoice Across Projects by Client.