Projects: Create with Fixed Rate Billing

Eddie Davis -

Creating projects in FINSYNC is a great way to find out how much money you made for a particular job, case, engagement, build, installation, etc.  Projects are just a catch all for a series of tasks and expenses with a defined beginning and end. Visit Projects: Overview to learn more.

Setting up a project with fixed rate billing is easy. Follow these steps:

1)  Login to FINSYNC.

2)  Click the "Projects" tab in the top nav.

3)  Click "New Project."


4)  Name your project, choose the customer set a due date if desired. You may wish to use an address for the project name if this is a build or installation. Leave "Copy phases and tasks from" as is.  You will be able to use this tool once you have set up multiple projects in the system.

5)  If you want to use a budget, click "Save & Create Budget" then follow the Project Budget instructions. Otherwise, choose "Save" to see the new detailed page for your project.

6)  Set up a phase.  Note: Phases help you group tasks for billing purposes. If you do not have multiple task groups, you'll just need to set up one phase. Click "Create the first phase."


7)  Choose the name for the phase, and change "Billing Options" to "Invoice customer a fixed rate for the entire phase." Select a service from your service catalog.  The service item is what your customer will see on their invoice. Set the billable amount. 

Note: If you want to bill for this project in multiple invoices, you need to create multiple phases. You should set the Billable amount for each phase to that which your customer should see on each phase. Example: You will build a website for $10,000 total, and you require 50% up front to start the project. You should then create a two phase project and each phase should be fixed rate with a billable amount of $5000. You will then invoice for the first phase at the start of the project and the second phase at the end of the project.

Set a due date if desired and click "Save Phase."  You now have a phase (or project if this is single phase) to which you can assign tasks (time), expenses and purchase orders.


8) Now you need to add "Tasks."  Tasks are what your team members are assigned to do (Learn More).  Click "Create the first task."

Note: You will see the setting you picked in the next screen.


9)  Give the first task a name.  This is what your team member will see when they log in to the Associate's Portal to track time. Your phase will already be selected because you only have one.  Assign a due date if desired. 

Note: You will not be able to add a billable rate to this task because you added to a phase with a fixed cost. When your team members track time to this task, they will increase the cost to you of delivering the project, but will not increase your profit.


10.  Click the "Assigned Associates" tab to select who can work on this task and select a department and location if desired. If your associate has not been added yet, click "Add Associate" in the top right.  Otherwise, finish by clicking "Add Task."


Now you have completed a simple project set up for a fixed rate project.  You can add additional phases and tasks if desired by following the same steps mentioned above.

All Finished!


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For more articles related to Projects, Phases, Tasks, etc. (Click Here)

For the complete list of articles, return to the FINSYNC How-To Guide: (Click Here)

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