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Posts Tagged ‘Invoicing’

Additional T&M invoicing on a fixed-price project

Written by Remco Kroes on . Posted in Exact Online

Fixed price and time-and-material (T&M) are the two primary ways professional services firm can charge for their services. Exact Online supports both methods* by specifying one invoice method per project. Firms may also charge their services using a combination of fixed-price and time & material (T&M) invoicing.  For example, an IT consultancy firm may agree to implement a new software system for  a fixed fee, but the additional work not initially planned or more risky work is sold against T&M to minimize the risks for the service supplier.  Exact Online Project Management now supports both invoicing methods on a single project.

How does it work? On a fixed-price project specify whether you want to allow additional invoicing on a T&M basis. Using the work-breakdown structure (WBS) you can scope your project and specify per project activity or expense whether you want to generate additional T&M invoices.  Time entries made on these activities will automatically generate invoice proposal lines. Purchase invoices received and booked against these expenses  also generate invoice proposal lines (with or without mark-up percentage).

additional invoice

* A  fixed-price project is invoiced using scheduled installments. E.g. 50% on the 1st of March and 50% on 1st of June.  A time & material project is invoiced based on actual time & costs entries made.

Turning subscriptions into money!

Written by Emiel Romein on . Posted in Exact Online

Recently Robert Huberts posted an article about how to setup prices for subscriptions. Before that I showed you how to create a subscription and subscription types in only 4 easy steps. It’s time to make it interesting and generate those important invoices!

Let’s say I’m a small household appliance maintenance guy. I have several services I offer my customer and one of them being basic maintenance (work on any household product that needs a periodic cleaning or check-up).

So I’ve setup a type for the basic maintenance subscription I want to offer. I called it Basic and it’s a subscription of two years after which it will automatically continue. Customers can cancel any time after the two years.

Great news! I’ve already got 3 customers who have subscribed for my basic maintenance services. As such I’ve created three subscriptions in Exact Online. My first customer is Femke van der Brinkhoven from Amsterdam. She gets my Basic 24/7 stand-by service and the basic cleaning of any household appliance for only €7, 90 per month incl. VAT.

The other two subscriptions are for John van Bergen-Dalen and Jack van Dijk. But these last two subscriptions are different because they will not be invoiced to the people who get my services. Both will be invoiced to Marco de Graaff – the employer of John and Jack.

Now that I have sold and created my first subscriptions I’m very keen on actually invoicing my customers. So I go to Generate invoices in Exact Online and I quickly see all subscriptions that can be invoiced, as you can see in the screenshot below.

Now comes the really exciting part! Check all subscriptions you want to invoice (I can select all lines via the one checkbox in the lines header) and click the Generate invoices button.

There I go! I have just created my first subscription invoices! In this case I created two invoices. One for Femke and one for Marco. The subscriptions of John and Jack are – by default – combined to one invoice because it’s sent to one person. If I want I can always overwrite this setting on Marco’s account card so that he receives one invoice per subscription.

Finally I can print or send the invoices. I just go to Print invoices in Exact Online. Select all generated invoices with one click and press the Print button. In the case shown below I will see a preview of the invoices. If I choose Final in the print options the invoices will be finalized. I’ll also get extra output options like: sending the invoice by e-mail, Digital Postbox or according to the account settings which could be a mixture of all options.

So to summarize, the invoicing of subscriptions basically involves two steps:

  1. Open the Generate invoices page, select all subscriptions and press the Generate invoices button.
  2. Open the Print invoices page, select all generated invoices, choose to test (trail) or finalize and press the Print button.

By keeping the software simple and easy I finally have the time to actually do maintenance instead of spending hours and hours behind my computer!

Subscriptions, a first glance.

Written by Emiel Romein on . Posted in Exact Online

In one of the previous posts called A new member for the Exact Online family, Robert Huberts introduced our new Subscription functionality. He explained that the new subscription module is meant for companies that offer goods or services based on a contract that is periodically both invoiced and renewed. He also mentioned that the subscription module can only be used together with the Exact Online Invoice module due to integration between the Subscription module and the invoicing functionality. He wrote about subscription types (to define the length of a subscription period and the invoicing frequency within it) and he mentioned the three ways to handle the renewal of a subscription – no renewal, automatic renewal and manual renewal.

So let’s have a first glance at the creation of a subscription. We tried to keep it as simple and clear as possible by only showing the fields that are absolutely necessary to create one. Some additional fields are hidden, like the discount and net price fields in the lines, and can be added by clicking the customize link in the upper right corner.

Exact Online screenshot of an empty subscription

1. The first thing you need to enter is the customer for who you are creating the subscription – the subscriber. This is the person who is buying your service or product. If the invoice needs to be sent elsewhere, you can select an alternative customer for the Invoice to field. If you don’t the field is automatically filled with the subscriber as well.

2. The next step is defining a subscription type. First click on the icon on the right of the Subscription field. If you created a new administration there are already three types that you can choose from. If not, click the New button and create a new subscription type.


Exact Online Screenshot of Subscription Types

Here you can create a new type. Enter a code and description. This can be anything you want. You could make an item / product specific type or you could make a more general one.

For example: If you sell two different magazines you could create one type for both magazines (items) or you could create two separate types – one type per item. It’s up to you to decide what fits you best, but I recommend a type per service or item. I defined a type for a magazine I’m selling called Super Cars. It’s a 1 year subscription after which it will be prolonged for another year. There is a cancellation period of 2 months within the first year and 1 month after that.

After you have saved the new type you can select when creating new subscriptions in the future.

3. The next step is to add the service or product you are selling to the subscription lines in the Create: Subscription page. In my example this is the Super Cars magazine. The unit price of the subscription is €29,99 incl. 6% VAT.

Exact Online Screenshot of a Filled Subscription

4. To finish up click the Save button. Congratulations! You have just created your first subscription! From the subscription card you can edit the subscription to make changes, print a subscription confirmation for the subscriber or even cancel the subscription – all with the click of a button.

Exact Online Screenshot of a Subscription Card

In the next blogs we’ll come back to subscriptions and write about printing subscriptions, generating and printing invoices, renewing subscriptions and updating item prices in all active subscriptions.

Remember that you can only use or add the subscription functionality to you license if you have the invoice functionality as well. If you do not use Exact Online yet, you can select the subscription functionality when you choose the Exact Online Premium subscription.

Now that this module is generally available I am very interested in your opinion of it. Please let me know in the comments. Thank you!

Coming to Exact Online: time registration and invoicing

Written by Robert Huberts on . Posted in Exact Online

You own a consulting company with a number of consultants out working for your customers. At the end of each month you want to invoice the customers for the time your consultants worked for them. So each month you go through the same process. The consultants send you their hours, often in a Microsoft Excel sheet. Then the hours need to be checked to see if they are complete and correct. Consultants that made errors or did not send their hours need to be chased to provide the correct data. When the correct time registrations have been received you need to copy them to your financial system so you can finally create and send invoices to your customers. All this should be done in a couple of days at the close of each month.

Does this sound familiar? How do you feel about a solution that makes this process more efficient? The new time registration and invoicing solution in Exact Online allows time spent working for customers to be registered and processed to an invoice with no need to enter data twice.

Weekly time entry

Your consultants can enter the time they worked and costs occurred for customers via the web directly into Exact Online. The entered time and costs can be easily reviewed, so you can make sure they are complete and correct. When you are satisfied that all entries are correct you can generate and then print the invoices. The solution will also provide you with overviews to measure how billable your employees are and the entered and invoiced amounts for each customer.

This solution is currently in controlled release and will be commercially available in the fourth quarter of 2010. Of course we want to hear from you as well, can a solution like this help you make your time registration and invoicing process more efficient?

Image credit for the header image: Robbert van der Steeg (from Flickr)

Creating invoices for subscriptions

Written by Robert Huberts on . Posted in Exact Online

In a recent post Emiel Romein explained the process of creating invoices for subscriptions, see Turning subscriptions into money. In this post I am going to explain the process of creating the invoices in more detail and give you some tips that may help you in using the functions more efficiently.

As Emiel already showed you, the process of invoicing subscriptions only contains a couple of steps. You create some subscriptions and then go to the Generate invoices function in the subscriptions menu. In this screen you will see a list of subscriptions that can be invoiced. Select the subscriptions you want to invoice and press the Generate button. The generated invoices are now available for final printing and processing.

The subscriptions you see in the Generate invoices screen are filtered based on the values in the filter section in the top of the screen. There are several filters available, but two of them are important for showing the subscriptions that need to be invoiced.

The Invoiced up to and including field in the subscription holds the date up to which the subscription is invoiced. So the corresponding filter in the screen controls which subscriptions are shown in the screen based on the date they need to be invoiced again. The second important filter is the Not yet invoiced filter, checking this filter will result in showing all invoices that have never been invoiced (and therefore have an empty Invoiced up to and including date in the subscription).

Some tips to make working with the Generate invoices function easier

  • The invoice date in the screen is default set to the current date, however it can be changed if you want to. Keep in mind though that this date is only for planning the invoices, the actual invoice date is determined at the moment the invoices are printed.
  • You can enter a general description for the invoices, but it is not mandatory. If you do not enter a description, the description from the subscription is copied to the invoice.
  • The administration settings (subscription page) has a useful setting that will allow you to automatically add a number of days to the Invoiced up to and including date filter. So if you want to see all the subscriptions that need to be invoiced in the next 5 days, enter 5 in the setting.

  • Different subscriptions for the same customer that are processed at the same time will be grouped together in one invoice. If the customer wants to have separate invoices you can disable the grouping in the customer’s account card.
  • After you generated the invoices there is a confirmation message in the top of your screen. This message also contains a link to the Print invoices function, so you can go to printing the invoices in one click.

The invoice is not correct, can I still change it?

It can happen that you have generated invoices for a number of subscriptions, but when you check the invoices before printing you notice one or more are not correct. Maybe the customer has more subscriptions that need to be invoiced or something in the subscription is not correct. At this point you can still correct this by deleting the invoice. This will cause the Invoiced up to and until date in the original subscription to be reset to the value prior to generating the invoice. So you can make adjustments to the subscription and generate the invoice again.

If you already printed the invoice and you or the customer notices it is incorrect, you can only correct the invoice by creating a credit note. This credit note will be linked to the subscription. If you need to create a new invoice you will have to do that by manually entering it in the invoice solution, it cannot be generated from the subscription solution.

When do you send the invoice?

In the last months I have had meetings with a number of customers that use the subscription solution in Exact Online. One of the things I noticed is that quite a number of customers sent the invoices in advance of the subscription period. Although it is not something you can indicate in the subscription itself you can manage this when generating the invoices. You need to change the Start or Invoiced up to and until date filters to look further in the future.

I hope the above information will make using Exact Online a little easier for you. As always let me know if you have questions or remarks by leaving a comment.

How to make use of PSA in Exact Synergy Enterprise

Written by Michiel Dorjee on . Posted in Exact Synergy

In order to make use of the PSA in Exact Synergy Enterprise and start to enjoy the Time&Billing capabilities, you can do that in two ways:

  1. Having a Synergy user with a professional role. Such a user can be granted any other license role (like Hour entry role) free of charge and without any further license checks
  2. Assign a Synergy user, who doesn’t have the professional role yet, with  the hour entry role. When doing so, a license check is done whether the customer has sufficient available Hour entry roles (YA1401) in his license
  3. #1 and #2 also apply to the situation where the user doesn’t need hour entry capabilities, but rather project controlling capabilities. So a Synergy user who already has the professional role, can be assigned with the project controller role free of charge and without any further license checks. Those Synergy users who don’t have a professional role, can only be granted the project controller role if there’s sufficient available project controller roles (YA1402) in the license

All the applications needed to make use of PSA in Exact Synergy Enterprise, are downloaded via the standard update mechanism of Exact Synergy Enterprise, so no seperate installation on the webserver is required.

More info on how the role mode works via this video.

Professional Services Automation Video

Written by Michiel Dorjee on . Posted in Exact Synergy

Since it is almost weekend time in the Netherlands, the office will soon be empty and many people will be off for a dinner and a movie night, I’d like to recommend a trailer to watch before that.

Now, this is our product blog, so the recommendation is indeed related to one of our key products – Synergy Enterprise and its newest release 244 that will be on the market very, very soon.

But more importantly, the movie trailer is about the new solution that we were working on in the past months – professional services automation. In a nutshell, the solution is designed to help consultancies and similar project-driven firms to administer their projects: particularly when it comes down to scheduling people, tracking hours and expenses, and creating invoices.

In the coming weeks I will share in detail with you what the solution is about and how exactly it helps our existing and will help future customers to run their businesses. But for tonight, to whet your appetite a little, here is the video.

(And if your Dutch language is not yet up to speed, now is the perfect time to practice it, because the trailer is called Projecturen en Facturering and is in Dutch.)