New — Pre-bill invoicing
Synergy pre-billing allows you to attach transactions to existing invoices. This lets you invoice clients up-front, and later attach the transactions to the invoice for the work that was pre-billed to the client.
How pre-billing works
Here’s the scenario:
You have a bunch of WIP transactions. Say they total $2500. Ordinarily, you move those to an invoice and you no longer have any WIP remaining. Simple.
But, what if you have pre-billed (sent an invoice for an upfront payment for part of the work)?
Say you invoiced $1000 in advance. That’s your pre-bill. Now you have $2500 worth of WIP. The point is to not have to write-off any WIP. So, you can take $1000 worth of your WIP and move it to the pre-bill invoice — in essence, forcing a bunch of transactions onto an invoice in the past.
Now you only have $1500 of WIP remaining which you can invoice in the usual way.
Pre-bill invoicing is a way some companies manage their unearned income when they’ve sent upfront invoices. You can also try Synergy’s unearned income feature and take advantage of the full power of Synergy project performance.