Billing for Fixed Fee Projects
Hello Zoho Community! Hoping someone could shed some light on the best way to bill clients (in multiple installments) for a fixed fee project. We are a professional services firm and many of our projects are billed on a fixed fee basis vs billing for staff time (i.e. time and materials, or T&M).
It seems very straight forward in Zoho Projects to set the billing method as either bill based on "staff hours" or "project hours," but how do you bill for a fixed fee? I also need to make sure that the invoices can be tied back to the specific project in Zoho Projects. For example, I need to see that the project has been invoiced for two installments of $10,000.
We still need to track our time to these types of fixed fee projects in order to calculate profitability, however when I bill clients I do not need to pull any timesheet records into the invoice. Thanks!!
Best,
Josh