⏱️ 4 minute read
Forecast’s Invoicing streamlines project and financial management by connecting time tracking, budgeting, and billing, allowing you to generate accurate, real-time invoices directly from your project data. It provides a clear financial overview, supports recurring billing, and ensures you’re invoicing for actual work and expenses. Invoicing also integrates seamlessly with accounting tools like QuickBooks (QBO) and Xero.
This article covers:
Understanding Invoicing
Forecast simplifies your invoicing process while improving cash flow visibility and overall operational efficiency.
Invoicing provides:
- Seamless Integration Across Projects and Billing. Save time and reduce errors by billing directly from tracked work and project progress.
- Real-Time Financial Overview. Gain clear insight into what has been invoiced and what remains outstanding.
- Automated Recurring Invoices. Reduce administrative work and ensure consistent cash flow by setting up recurring invoices for retainer projects.
- Billing Based on Actual Work. Ensure accurate, transparent billing that builds client trust and minimizes disputes.
- Centralized Financials. Access financial records and invoices alongside project data for easier audits, reporting, and client communication.
- Integrations with Accounting Tools. Streamline your bookkeeping process by syncing invoices with tools like QBO and Xero.
Permissions: Who can access Invoicing?
To view and manage invoicing, permission profiles must include access to financials. Invoices are accessible by the standard permission profiles: Admins, Controllers, and Managers. Admins have access to all invoices across all projects, while Controllers and Managers can view invoices only for the projects they are assigned to.
For custom permission profiles, one of the following permissions must be enabled:
- View financial information
- View financial information, revenue only
To access automated invoicing in Retainers, an additional permission is required:
- See and manage retainer periods
Note: All non-Admin custom permission profiles will only have access to invoices in the projects they are assigned to, unless the Access all projects and programs permission is also enabled.
For more details, see About Permission Profiles.
Accessing Invoices
Invoicing is accessible to permissioned users via the Finance section or directly within a project’s Financials. Users can create and view invoices from the Company’s Finance page (under Invoice Creation and All Invoices), or at the project level via Project > Financials > Invoicing.
To access invoices from Finance
- Click Finance in the navigation ribbon.
- Select Invoice Creation or All Invoices.
Invoice Creation
A list of all un-invoiced projects for the selected time period, grouped by budget type.
Use the Eye to show/hide project data such as:
- Project Name
- Project Client
- Total Invoiced
- Total Uninvoiced (Fixed Price)
- Total Uninvoiced (Retainer)
- Total Uninvoiced (Time & Material)
- Uninvoiced Expenses
- Uninvoiced Fixed Price
- Uninvoiced Locked Periods
- Uninvoiced Time Registrations
All Invoices
A detailed list of all invoices that have been created including the amounts invoiced, paid, and unpaid.
Use the Eye to show/hide invoice data such as:
- Client
- Due Date
- Invoice Date
- Paid
- Projects
- Reference
- Status
- Total Invoiced
- Unpaid
All Invoices includes the Export feature for accounts integrated with an accounting tool like QBO or Xero. Invoices that have been exported successfully display the third-party's logo at the far right of each invoice. For non-integrated accounts, Invoicing includes the option to download a PDF of the invoice.
To access invoices from Projects
- Click Projects from the navigation ribbon.
- Select All Projects from the dropdown.
- Open the project you wish to view or create invoices for.
- Click Financials in the left side panel.
- Select Invoicing.
Invoicing
A list of all invoices created for the project. The summary cards at the top display the project's financial information and invoice details such as:
- Confirmed revenue
- Invoices created
- Invoices sent/exported
- Invoice payments
- Overdue invoices
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Note: If an invoice contains multiple projects, the invoice will not be listed or accessible at the project level. For projects that have invoices containing more than one project, the following message will display:
Users must access the invoice as directed, by clicking Go to All Invoices.
Invoicing includes the Export feature for accounts integrated with an accounting tool like QBO or Xero. Invoices that have been exported successfully display the third-party's logo at the far right of each invoice. For non-integrated accounts, Invoicing includes the option to download a PDF of the invoice.
Project-level invoicing by budget type
Time and Materials
Use the date picker to view Uninvoiced Time Registrations and Expenses.
Retainers
Locked Periods and Expenses display below the summary cards reporting uninvoiced values from locked periods in both time and money.
Fixed Price
Invoices display below the summary cards.
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