Web Suite gives you the flexibility of creating memorized invoices with user-defined frequency and schedule. Most of the businesses that use fixed-contract types will find the memorized invoice feature extremely useful.
You can create memorized invoices from the Manual Invoice, Retainer History and Invoice Review screens. The Memorize Invoice screen allows you to memorize the selected manual or retainer invoices, and set the frequency for automatic generation and processing. After specifying a recurring frequency and other settings for invoices, you can set the workflow to notify the right person to process the new invoice via the Memorized Invoices List screen. Better still, you can set it for automatic processing. Web Suite then notifies the specified person about them.
When you memorize an invoice, it creates an entry in the Memorized Invoices screen. Web Suite also allows you to set an automatic billing schedule at the project level. When you do so from the Project screen, it also creates an entry in the Memorized Invoices screen. The grid lists all the individual memorized invoices.
If you have memorized a manual invoice, say for $5000, and opt to release time and expenses with it, the services and expenses total can be more or less than the scheduled invoice amount. In such a case, you can process the memorized invoice for the scheduled amount but Web Suite will generate a write-up/down against the time records (service amount). Say,
Services = $4850
Expenses = $550
Total Services + Expenses = $4850 + 550 = $5400
Bill Amount = $5000
However, the difference between the Bill Amount and Total Amount ($5400 - 5000 = $400) will result in a write-down of $400 or 8.25% from the service amount (400/4850 x 100 = - 8.25%).