What is Automatic Billing?
Managing a billing workflow can be very tiresome for companies. It can also be very difficult and frustrating, especially now when almost everything is getting automated and is moving online.
For most firms, a typical billing workflow involves a three-step process.
- The pre-billing stage where the billers generate pre-billing reports for review by their project managers.
- The billing stage where the billers collect the feedback from the project managers and incorporate the billing decisions to process the invoices.
- Last step is typically the post billing stage that involves final distribution of invoices, which includes printing invoices or emailing them to the customers.
With Automatic Billing, you can eliminate the first two steps from the billing workflow. It is an easy solution to reduce the burden of printing the pre-billing worksheets or reports that are otherwise extremely time consuming. Just imagine your invoice being automatically processed for you, or the drafts ready to be reviewed by your project managers, or better still, your final invoices ready for distribution without you even having to click a button. Once you have eliminated the need to work on the first two steps, you can focus your attention to more demanding things that do not have such a simple solution.
It has never been easier to manage the billing process. Automatic Billing is one of the innovative features that is designed to have BillQuick take over your entire billing process, and may change the way you think about your billing workflow.
Why Use Automatic Billing?
Some of the most compelling reasons why you should switch to auto billing include:
- It saves your time. It truly is a ‘set it and forget it’ feature.
- It normalizes and brings on track your cash flow.
- It reduces invoicing costs by about 90%.
- Automated invoice processing reduces manual work to a minimum. With automation, the number of human errors substantially reduced.
How Do I Set Up Automatic Billing?
- Under the Project menu, click on Project Information. This opens your Project screen.
- Let’s pick up the project Redondo Library on the left. To get to the Automatic Billing option, let’s navigate to the Billing tab and then click on the Automatic Billing button.
This opens your Project Auto Bill Settings screen. It allows you to set the attributes for your Automatic Billing.
- Let’s do a quick exercise here and fill in a few fields in the Auto Bill Settings screen just to have a feel of how this feature works. In the Description field, type ‘AutoBill for Redondo Library’.
- Next, set the Frequency as to how often you would want BillQuick to auto generate an invoice for the project. The options include Daily, Weekly, Bi-Weekly, Monthly, Quarterly or Yearly.
- Then we have to enter the Start Date and End Date. Start Date is the date when automatic billing will begin. The End Date is when the automatic billing will end. Let’s set the start date as 1st of this month andend date as 7 months from now, or you can have no end date.
- Finally we have to choose an option from Notify Settings. These settings determine what will happen when the invoice is generated automatically. We have two options to choose from–
- Invoice will be processed by, where the invoice will be generated automatically but has to be processed by the specified person. You can select that person from the drop-down.
- The second option is Automatically process and inform, where BillQuick will automatically process the invoice and just send a message to the specified person about it. You can select that person from the drop-down.
For this exercise, let’s select the option ‘Automatically process and inform’ and notify Curtis James about the processed invoices.
- Also, check the option ‘Process as Draft’ to process the invoices as drafts.
- Click Save to save the settings. That’s all it takes for you to turn on Auto Billing for your projects.
From this point, BillQuick will automatically process the invoice at a specified schedule. When the invoices are processed, it monitors your time and expenses, and does the write up/down as needed.
- The final step is to log in as CJ. As soon as CJ logs in, notice in the lower right corner there is a message waiting informing him about the processed draft invoice. The only thing that CJ has to do is submit this draft invoice to the Project Manager for review, or process it as final.
So, with a few steps setting up Automatic Billing schedule, you can make your work life a lot easier and hassle-free. Please share your experience about setting up and using Automatic Billing in BillQuick. We would love to hear from you.