Life of a Project: Fixed Fee with Milestones

In this video, Dominic addresses managing fixed fee projects with milestones:

N Creating projects from accounts
N Using project templates
N Adjusting milestone dates
N Tracking unvoiced items
N Generating invoices

Managing fixed fee projects with milestone payments is crucial for efficient project billing and invoicing:

$Streamlining Project Creation: Easily create projects from accounts, ensuring seamless transitions
$Ensuring Data Consistency: Use templates to maintain consistency and accuracy in project setup
$Flexible Milestone Management: Adjust and track milestones for accurate billing and project management
$Efficient Invoicing: Use dynamic list views and Generate Invoice UI for streamlined invoicing
$Standardizing Communication: Send invoices with standardized email templates, ensuring professional communication

0:00 – Introduction
Greetings everyone. Dominic, for another ‘How I Solved It with Klient’. This time we’re going to review how we can manage the lifecycle of a fixed fee project using milestones. Here we go! A project can be created directly from your customer Account page. From here, you’ll be asked a few questions like using project templates or task templates so that you can benefit from your business knowledge relating that to the account and any other fields that might be required for you to create the project. Here we’ll select the start date of the project.

0:41 – Project Creation
From here we will be creating that new project referencing to the selected template. Cloning tasks, assignments, and other information from the project. We now have a new project created where we can reach the Workspace to review the project itself. Adjustments can be done to dates either on the graphical side, moving milestones around, or selecting dates to be a bit more precise. Any task identified as a milestone with a milestone payment will be billable once they are marked as Completed.

1:17 – Managing Milestones
Back to the Project page, we’ll have list views, like dynamic lists here, showing unvoiced items so that we can keep track of our project. Obviously, reports and dashboards will also be available. From here, we can generate invoice, listing all available items for billing. The milestone that we have marked previously as completed is now available so that we can create the invoice record. The items will be listed on the invoice, and the related item, the milestone, will be also marked as invoiced.

1:54 – Invoicing
We can generate the PDF document right from our record and use the one click button to email to our customer using an email template and selecting the contacts from the accounts. There you go, project creation to invoicing, in just a few clicks. Thanks!