Monthly Billing for Book Keeper

The process of monthly billing requires Project Managers to tabulate the values of all work performed on a specific job, whether the work is still in process (WIP) or fully delivered. The billing process is performed in the middle of each month starting on the 15th. However, the values we declare should reflect our percentage of completion as anticipated by the end of the current month. On or about the 15th of the month each Project Manager will tabulate and enter the vaule of all work completed. The Book Keeper will then perform the following actions…

Open Excel file for the job, select SOV tab

In the Tools menu, select ‘Protection’ and then select ‘Unprotect Sheet’

In the top right corner, enter or update as necessary the Application number and dates

If this is the first billing cycle, enter the Contractor’s project number. Ask PM or review contract found in Billing folder on server.

Review column E on the SOV. For each line or description of work, if this is the first billing or the value is $0.00, enter the PM’s estimated value of completion for that month into column E. Next, enter the PM’s estimated value for WIP into column F.

If values from previous billings are present, add the number in column E to the corresponding value in column D. Then, from the right side of the page, enter the PM’s estimated value of completion for that month into column E, overwriting the previous month’s value. Next, enter the PM’s estimated value for WIP into column F.

Save your work

Note: Formulas can be used to copy the PM’s estimated values into columns E or F, but remember to convert them to values only to remove formulas (Copy>Paste Special>Values).

Protect the sheet by going to the Tools menu and selecting ‘Protect’ and ‘Protect Sheet.’ Leave options as you find them and simply click OK.

Save your work

In Odoo, create a new invoice. 

Confirm name and email address for recipient of invoice with PM. Also ask for delivery address.

In Odoo, confirm this information is already in the appropriate contact and is correct.

Enter Due Date. If residential job, select 15 Days. If commercial work, select 60 days.

Enter Products (Full overlay cabinetry) and value

Enter Services (Delivery & Installation) and value