Fixed fee templates
Use a fixed fee template to set up a recurring fee that you can generate with a frequency you choose.
- Select . SelectAddand enter a name for the template.
- Choose a frequency for the fixed fee: Monthly, Quarterly, Annually, or Periodically.
- Choose how the recurring fee will affect the WIP. The following table summarizes the options.noteIf you choose Adjustment or Progress, you can also choose a staff member and activity.
- Adjustment: The recurring fee is generated even if the client has no WIP. Onvio will bill the amount specified, and will immediately close out any carryover on the transaction with a positive WIP adjustment. This behavior differs from Progress, which assumes that you will come back later and net the accumulated WIP against the negative progress bill entries.
- Progress: The amount specified is billed out as a progress bill without being allocated to any existing WIP transactions. WIP transactions don't have to exist prior to billing, but progress bill transactions must be closed out against WIP transactions at a future date.
noteYou can only generate a recurring fee with the following templates if at least 1 WIP transaction exists at the time of billing.- Fixed Time and Expenses: The amount specified is billed against all WIP items that have been entered and leave a carryover of 0.
- Fixed Expenses and Time at Standard: Any expense-type transactions are billed for the amount specified. Time-based WIP transactions are billed in addition to the amount specified, at the value calculated in time and expense entry.
- Fixed Time and Expenses at Standard: The amount specified is billed against all time-based WIP transactions. Expense-type activities are billed in addition to the amount specified, at the value calculated on the expense transaction in time and expense entry.
- WIP at Standard: All WIP transactions entered will be billed out at their standard value (the calculated amount of the entries in time and expense entry).
- Choose aBill Byoption. Choosing a fee per service or project will make all relevant templates available for selection.
- Enter a fee amount.
- SelectSave.
After your firm creates fixed fee templates, you can add fixed fees for clients and generate fixed fees.
Fixed fee template type | Requires WIP | Billed at a fixed fee amount | Billed at standard rate | Written off |
|---|---|---|---|---|
Adjustment | No | Any positive WIP | N/A | Any remaining positive WIP |
Progress | No | N/A - Progress bill | N/A | N/A |
Fixed Time and Expenses | Yes | All WIP | N/A | Any remaining WIP |
Fixed Expenses and Time at Standard | Yes | Expense WIP | Time WIP | Any remaining expense WIP |
Fixed Time and Expenses at Standard | Yes | Time WIP | Expense WIP | Any remaining time WIP |
WIP at Standard | Yes | N/A | All WIP | N/A |
