Percent Complete Billing

Percent Complete in Web Suite is the subjective determination of how far along a project is. Throughout the life of a project, a manager can update this percent complete value. You can calculate this percentage based on the contract amount used/spent and then bill the client accordingly.

You can use percent complete value in Web Suite to:

• Compute the estimated earned value: Web Suite compares it to the actual earned value for the project (based on the Amount Spent). A significant difference in these two values indicates that a problem is looming. The ‘Earned Value–Estimated’ report uses the percent complete value.
• Determine how much to bill: Percent complete billing involves the usage of ‘% Complete’ value for the project (from Project or Billing Review screen) to calculate the net bill amount.

Percent complete billing supports both single project invoicing and joint invoicing. When billing on a percent complete basis, Web Suite asks if you want to update the % Complete value in the Project profile as well. You have an option to include or exclude the expenses as a part of the contract amount. Web Suite accordingly calculates the percent complete bill amount on the project’s service or labor amount.

You can bill phases using percent-complete values from each project phase. For a joint phased percent-complete billing, Web Suite ‘joins’ the billing records for each phase with unbilled labor and expenses. Billing records of the same client having the same code automatically combine on a joint invoice. You can decide to generate a phased percent-complete joint invoice for each phase on the Project-Billing screen or dynamically during a billing session in the Billing Review screen. See Creating Joint Invoices and Creating Percent Complete Invoices for more information.