Flexible invoicing for every way of working
From hours worked to fixed prices and subscriptions
Not every service provider invoices in the same way. One assignment is billed on the basis of hours worked, while for another service a fixed price, a price per unit or a recurring subscription makes far more sense. That is why your invoicing system should not dictate how you price your services, but fit the way you work with your clients.
With TimeWriter you can combine different invoicing scenarios. You decide per activity, service or project which pricing mechanism applies. That way you can align time tracking and invoicing without needing a separate administrative procedure for every non-standard arrangement.
One system, multiple pricing mechanisms
A flexible pricing mechanism is especially valuable when your organisation carries out different kinds of work. A consultation, for example, may be invoiced by the hour, while administrative processing has a fixed price. For a subscription you charge the same amount every month, and certain costs you pass on directly to the client.
TimeWriter supports these different ways of invoicing. As a result, you can translate your existing pricing arrangements into clear invoicing scenarios and keep the administration running as automatically as possible.
Hourly rate
The hourly rate is the most widely used model for services. You log the hours actually worked and invoice them at the agreed rate. This works well, for example, for consultants, advisers, accountants, lawyers and other professionals who deliver their services on the basis of time.
Even when rates change over time, the history remains intact. A new hourly rate can be applied from a given date, while previously logged hours are billed at the rate that applied at the time. Historical bookings are therefore not changed retrospectively when you adjust your rates.
Unit price
Some services are billed not on the amount of time they take, but on the number of results delivered. In that case a unit price makes far more sense than an hourly rate.
Think, for example, of a payroll provider that invoices per payslip. Or an accounting firm that charges a fixed amount per tax return processed. Whether the processing takes five minutes or twenty, the client pays per unit. With a unit price, invoicing matches the output actually delivered.
Fixed price per activity
For recurring tasks, a fixed price per activity can be convenient. The activity is invoiced at the same amount every time, regardless of how much time was spent on it.
A phone call, check, standard report or other recurring task can, for example, be given a fixed invoice amount. Employees then only have to log the activity. The correct amount can then be used automatically when invoicing.
Subscription
Not every client relationship revolves around individual tasks. With a subscription, the client pays a fixed amount every month or quarter, for example, for a service or for availability.
The hours actually spent need not determine the invoice amount. The subscription is invoiced according to the agreed period, while you can still log the hours worked if you wish, for internal analysis, capacity planning or insight into costs.
Recharging
Some costs arise because you purchase or pay for something on behalf of your client. You then want to pass these costs on to that same client. Think, for example, of external services, materials, travel expenses or other outlays that are part of your service.
With the recharging invoicing scenario you can process these costs separately. The costs thereby become part of the invoice to your client, without you having to treat them as regular hours worked.
Project price
For larger assignments, a total amount is often agreed in advance. The client then knows beforehand what the project will cost, while various tasks can be carried out within the project.
With a project price, the work within an agreed project period is bundled into a single amount. You can continue to log the hours and activities internally to keep insight into the time spent, while the client ultimately receives one project amount agreed in advance.
Different models side by side
The strength of a flexible invoicing mechanism lies not only in the number of options available. What matters most is that you can use different models side by side.
A client may, for example, have a subscription for a fixed service, while additional work is invoiced by the hour. Another client pays a fixed project price and yet another is billed per document processed. Your invoicing therefore does not have to be the same for every client.
Rates that keep pace with your arrangements
Pricing arrangements change. You raise your rates, make new arrangements with a client or introduce a new service. Your invoicing system must be able to handle these changes without altering your historical administration.
By recording rates with a validity period, you can have new rates take effect from a chosen moment. Existing bookings remain linked to the rate that applied at the time. As a result, both your invoices and your historical reports remain reliable.
When employees log their work, you immediately have the information you need to invoice. Depending on the scenario chosen, hours, quantities, activities, subscriptions, recharged costs or project prices are included in the invoicing.
That saves you having to determine afterwards which work is billable and at what amount. The arrangements made form the starting point, and the logged work provides the underlying information.
Flexible for your services
A good invoicing system must adapt to your business model. Whether you mainly invoice by the hour, work with fixed prices, offer subscriptions or mix different models: invoicing must be able to follow your commercial arrangements.
With TimeWriter's various invoicing scenarios, you set up your pricing mechanism the way your organisation works. This creates a flexible link between work, rates, time tracking and invoicing.
One solution for different invoicing scenarios
With TimeWriter you can work with, among others:
- Hourly rate – invoice hours worked at the applicable rate, with support for rate changes over time.
- Unit price – invoice per unit or output delivered, independent of the time spent.
- Fixed price per activity – invoice specific activities at a fixed amount every time.
- Subscription – invoice a fixed amount periodically per month, quarter or other agreed period.
- Recharging – pass on costs you have incurred for your client directly.
- Project price – bundle work within a project period into one amount agreed in advance.
Invoice the way you sell your services
Your services cannot always be captured in a single pricing model. That is why TimeWriter offers room for different invoicing scenarios and flexible pricing arrangements.
Log your work, choose the right pricing mechanism and invoice in the way that suits your services.