Managing Final Invoices for Projects BETA

A final invoice is the closing invoice on a project. It captures the full value of the work performed across all tickets linked to the project, including all time logged and all parts recorded, and bills the customer for the remaining balance after any deposits previously invoiced are credited. One of the core benefits of using projects in Rev.io is that billing is consolidated: all tickets linked to a project are billed together at the project level, rather than each ticket being invoiced separately.

A Note on Terminology: Products, Parts, and Labor

Rev.io uses a single underlying entity, a product from your product catalog, to represent everything billable on a ticket, including hardware, software, deposits, and labor. The terminology shifts depending on where you are in the system.

• In the Product Catalog, all billable items are called products.
• On a ticket, the Parts & Labor tab is where every billable item appears.
• The button to add a billable item is labeled Add Product.
• When you log time on a ticket, you select a reason. Each reason is mapped to a labor product in your catalog, and the time entry appears on the Parts & Labor tab as a billable line with hours as the quantity and the labor product's rate as the price.

The Parts & Labor tab is the single source of truth for everything that will be billed on the project. The Time Logs tab is a separate view focused on time entry capture and approval. Time eventually flows into Parts & Labor as labor product lines.

Before You Generate: All Time and Parts Must Be Finalized

All time worked and all parts used on the project's tickets must be fully entered and finalized before you generate the final invoice. The final invoice captures the project's totals at the moment it is generated. Anything not recorded at that point will not be included on the invoice. Charges discovered later must be billed on a separate supplemental invoice, which creates extra work for your billing team, additional invoices for the customer, and a higher risk of charges being missed entirely.

Pre-Flight Checklist

Before generating a final invoice, review the following with the project owner or project manager.

Time

• All time worked on the project's tickets has been logged.
• All time entries have been submitted and approved per your standard process.

Parts

• All parts used on the project have been added to the appropriate tickets.
• Quantities and pricing on each part match what was delivered or used.
• Any parts shipped directly to the customer have been confirmed and recorded.

Project Review

• Every ticket linked to the project has been reviewed on its Parts & Labor tab.
• Project totals have been reviewed for unexpected variances against the original quote.
• All deposit invoices on the project have been generated and accounted for.
• Tax jurisdiction and customer billing details are correct.

Charges That Don't Fit Time or Parts

Rev.io's project billing is built around time and parts. If you have project costs that don't naturally fit either category, such as expenses you want to pass through to the customer, you can handle them by creating a product in your catalog to represent the charge type.

For an expense passthrough:

1. Create a product in your catalog called "Expenses" or similar.
2. Add the product to the relevant ticket's Parts & Labor tab using Add Product.
3. Set a sales price on the line equal to the amount you want to bill the customer.
4. If you want to track the cost as well, enter the actual cost on the line.

The same approach works for any other charge type that doesn't have a dedicated feature in the product today. Coordinate with your accounting team on how these charges should map to the GL.

Generating a Final Invoice

Once the pre-flight checklist is complete:

1. Navigate to the project.
2. Review the project summary to confirm all tickets and their Parts & Labor items are reflected as expected.
3. Click Generate Final Invoice.
4. Review the invoice preview and confirm the total project value, deposit credits, net amount due, and tax are all correct.
5. Generate and send the invoice per your standard delivery settings.

How Deposits Are Applied

If the project has any deposit invoices associated with it, those amounts are automatically credited on the final invoice. You do not need to manually calculate or apply the credit. Rev.io tracks deposit invoices on the project and offsets them at the time of final invoice generation. See the Deposit Invoices article for more information on how to set up and use deposit invoices.

Example

A $10,000 project with a $2,000 deposit previously invoiced and paid:

The customer is billed $8,000 on the final invoice. Combined with the $2,000 paid earlier, the project is fully billed at $10,000.

Handling Scope Changes During the Project

Rev.io does not currently have a dedicated change order workflow. If the project's scope changes after work has begun and you need to bill the customer for additional work, the most common approach is to issue a second quote covering the additional scope and reflect the resulting time and parts on the project's tickets.

If you go this route:

• Confirm the customer has approved the additional scope in writing.
• Ensure the additional work is reflected on the project's tickets before final invoicing.
• Document the scope change in the project history.