Billing & Revenue Recognition

Unanet Project Billing provides Invoicing and Revenue Recognition functionality with robust support for Fixed Price, Time & Materials and Cost Plus contracts. Through automating the professional services “bid-to-bill” lifecycle, Unanet allows organizations to forecast and track revenue across different contract types, shorten invoice cycles, and provide authorized managers with real-time insight. By providing a single integrated system to manage the entire services bid-to-bill cycle, disparate standalone systems can be replaced, resulting in greater productivity, fewer errors, and lower costs.

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BILLING AND REVENUE RECOGNITION 
SOFTWARE FEATURES

Fixed Price Schedules

  • Create project billing and revenue recognition schedules for Fixed Price items.
  • Recognize revenue "as billed", based on percent complete, or on a custom schedule.
  • Bill items on task or project completion.

Pre-Bill Labor

  • Issue invoices for labor in advance of work being performed.
  • Earn revenue associated with pre-billed labor based on approved timesheets. 
  • Automatically bill labor in arrears once Pre-Bill amounts have been earned.

Invoicing

  • Create multiple, standard invoice formats to be used across projects, showing summary or detailed level information.
  • Hide or show Cost Element detail on Cost Plus Invoices.
  • Include Fixed Price, Time & Materials, Pre-Bill Labor, and Additional Items on the same invoice.
  • Defer items from the current invoice for future invoicing.
  • Add one-time items such as additional fees or discounts.

Other Features

  • Comprehensive reporting on the billing and revenue status of items at summary and detailed levels
  • Calculate billable and earned amounts for individual or many projects in a single step, with preview and drill-down to detail before committing data.
  • Export journal entries, accounts receivable, fixed price schedules, billable hours and other data to downstream systems.

 

 

PROJECT BILLING SOFTWARE BENEFITS

  • Billable expense markup ensures company or project-specific markups can be applied.
  • Manage different contract types including Time & Materials, Fixed Price, Pre-Bill Labor and Cost Plus.
  • Estimate and record what is billable, billed and earned.
  • Enable review of draft invoices by project management roles.
  • Manage bid-to-bill lifecycle in Unanet, or feed data to other systems
  • Feed other systems with accounts receivable, or journal transactions at summary or detail level.
  • Flexible invoice formats per project to reflect client needs and level of detail.