Fixed-price project with milestone invoices

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  • Idea
  • Updated 3 years ago
  • Under Consideration
Currently fixed-price projects can only be setup with fixed weekly or monthly invoice amounts. We have many projects that are fixed-price and with irregular invoices based on milestones. For example, 3 invoices with one at the beginning, middle and end of the project. We'd like to be able to use Replicon to manage planned invoices, but currently have to do that in a separate system outside of Replicon.
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Anthony

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Posted 5 years ago

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Lingaraj Dharwad, Product Champion

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Hi Anthony,

Thank you for using Replicon community,

We are reviewing your idea.

Thanks,
Lingaraj
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Lingaraj Dharwad, Product Champion

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Hi Nicole,

Thank you for sharing this. This has been forwarded to the concerned PM for review. 

Regards,
Lingaraj
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Nicole Kroosz

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Hi Lingaraj - I am available on Thursday 11/12 from 8-4 est
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Lingaraj Dharwad, Product Champion

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Hi Nicole,

I have sent the invite for 9:30am EST tomorrow.

Thanks,
Lingaraj 
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Lingaraj Dharwad, Product Champion

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Sorry the invite is for Friday 13th, 9:30am EST.
(Edited)
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Nicole Kroosz

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yes that is fine unless you would like to move it to this afternoon
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Sangeet Saurabh

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Official Response
Hi Anthony,

Thanks for submitting the feedback - Milestone based billing is on our roadmap.

Regards,
Sangeet
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kdurliat

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Please advise if there are any updates on this topic.  We, too, have projects that have milestone-based billing (for example, 15% down, 25% upon reaching the first, second, and third milestones, and the remaining 10% upon completion).

Anthony, what you are doing as a work-around in the meantime?  Are you treating as T&M with invoice adjustments, or is there a better way?

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Anthony

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We setup all of our projects as T&M, since we don't have any that have the "regular fixed amount" pattern that the Replicon "fixed price" project requires. Unfortunately, we have to manage our planned invoice schedule in a separate system outside of Replicon, and we don't then rely on the invoicing amounts in Replicon. It's really messy, hence my request of Replicon to fix this.
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kdurliat

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Anthony, sadly it sounds like we are in the same boat.

Replicon, I (and I'm sure Anthony) would be happy to consult with you on capabilities that a "typical" billing system has, when you get to that point.

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Sangeet Saurabh

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Official Response
Thanks Anthony/Kdurliat for submitting the feedback. We are currently working on invoicing and milestone billing is on our roadmap. I will love to chat with you and understand your requirements. Somebody from support team will reach out to you and schedule a call - I look forward to chatting with you.

Thanks,
Sangeet
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Anthony

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Thank you Sangeet. I would be happy to provide my input with regard to our requirements related to this feature.

Essentially, when we setup a fixed-price project, we would like to be able to specify a milestone-based invoice schedule (not the fixed weekly or monthly invoices, as currently). Each invoice in that schedule should include a date, an invoice amount, and an optional name/comment (i.e. "Milestone #1 of 3").

I'd be glad to talk through this further with your team, so please reach out to schedule a call.
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Aashnee Kamboj, Community Moderator

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Hi Anthony,

We will soon be doing a webinar on the new invoicing system. We will update the thread with details.

Thanks,
Aashnee
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Carolyn Tate

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1)We do fixed price invoicing based on % milestones when we obviously hit that milestone. We do not nessecarily have a date associated with it. At one stage we were creating several fixed price projects with each representing a milestone linking them together with an individual program. It became way to cumbersome to manage so this was abandoned.
2)We also do projects that are a mixture of fixed price with milestones and have specific tasks that are T&M components.
3)we also do standard T&M billing and T&M capped billing
4)each of our consultants work on many projects at once and because Repilcon locks out an entire time sheet if you bill only 1 client on that timesheet it means we cannot invoice anything at the moment as must be able to maintain those timesheet entries that are not invoiced.
Just all the standard Professional services invoicing. Unfortunately none of the above works with Repilcon in its current state and I have had discussions with Repilcon particularly about the last item as that is the essence of a time sheet and billing system. We are currently exporting all T&M timesheets and having to manually reconcile T&M to work out what to manually invoice. Hence we have to search for any times sheets that missed being invoiced manually as we cannot invoice through Repilcon (that would mark each individual entry as invoiced) due to its lockout of entire timesheets.
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Bunk, Adam

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Has there been an updated on this from Replicon since the last post on this thread? Thanks.
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Aashnee Kamboj, Community Moderator

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Hi Adam,

We are planning a webinar on the new invoicing system. We will update the thread with details.

Thanks,
Aashnee
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Nicole Kroosz

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awesome
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Peter Flinn

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When will this be implemented?
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Aashnee Kamboj, Community Moderator

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Hi Peter,

We are awaiting for the Webinar team for the same. I will update all the details

Thanks,
Aashnee
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Aashnee Kamboj, Community Moderator

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HI All,

Please use the below link for the webinar details:

https://community.replicon.com/replicon/topics/replicon-invites-you-for-a-live-demo-on-our-enhanced-...

Thanks,
Aashnee
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Dent, Caroline

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Any updates on fixed price billing enhancements?

We have 2 requirements

1. To bill against a milestone/milestone fee.  These do not have time periods to bill against.
2. To have mixed fixed price/T&M tasks within one project.