Leverage Repeat Billing/Recognition for Recurring Project Fixed Fee

Some of your clients might be billed for a fixed fee amount every month for work on their projects. If you are tired of creating new fixed fee billing rule/recognition rule every month for client project recurring fixed fee, you can leverage the repeat billing/recognition rule. To do this, follow the steps below:

1. Go to the Project with recurring fixed fee
2. Click the + Create button > Under Billing rule, choose Fixed fee on date or milestone. For recognition, under Recognition, choose Fixed amount on date or milestone rule
3. Enter the recurring fixed fee amount on the Amount (money) field
4. Enter the This will be the first occurrence of the recurring fixed fee amount
5. Click Create beside the Repeat billing rule / Repeat recognition rule

6. The Repeat dialog should appear

7. On the Frequency dropdown, select if the recurrence will be daily, weekly, monthly, quarterly or yearly. If it will be every month, set this:

8. Under Duration, set the Occurrences or End date. The Occurrences will be how many times the fixed fee amount will be created after the initial billing transaction. You can set the End date instead to enter when will the fixed fee amount stopped being created.

 

Other tips to note when using this feature:

• The first fixed fee amount for the billing/recognition rule is not counted when using the Occurrence dropdown under Duration section of the Repeat dialog
• For recognition, if you create the later occurrence of the fixed fee amount first, when re-running the recognition, you won’t be able to create earlier occurrence of the fixed fee amount anymore. You need to delete the later occurrence of the fixed fee amount and re-run recognition to create all occurrences of the recognition