Need to keep track of each billing term for project

[AbhishekNegi25]

Problem statement

One of the challenges we face in our current system from a project execution perspective is the absence of predefined invoice terms throughout the project lifecycle. Ideally, these invoice terms, including specific dates and time periods for sending invoices, should be established while registering the project in Portal.

Currently, our system does not support setting these terms in the project. Instead, we create invoices manually, and only at that stage do we select the invoice terms within the invoice form. This manual process is not only time-consuming but also prone to inconsistencies and errors. It can lead to delays in generating invoices as we have to manually determine and input the billing terms each time we create an invoice. These delays can impact project management efficiency.

By defining invoice terms at the start of the project, we can automate the invoicing process, ensuring timely and consistent billing aligned with the contract. This would streamline project execution, and improve invoice generation.

Solution

• We need to define and set the invoice terms, including specific dates or time periods for sending invoices, at the beginning of the project when the project is registered in Portal. This ensures clarity and alignment from the outset.
• Implement a dedicated tab on the invoice page that displays the scheduled invoice terms for each project. This tab will provide a clear overview of the billing schedule, making it easier to manage and track upcoming invoices.
• Configure an alert system that notifies the finance team a certain period before the predefined invoice term. These alerts will serve as reminders to generate and send invoices on time, helping to avoid delays