Examining the differences between progress billing and interim billing
Timeslips uses the terms progress billing and interim billing to describe two special types of flat fee billing arrangements that you can use with time slips — neither arrangement is available for expense slips. With both billing arrangements, as your work progresses, you determine the amount of the flat fee that appears on each bill before you generate the bill. Timeslips tracks the values of slips you enter as well as the amounts you bill. At any time, you can easily compare your actual work to the amount you’ve billed.
So, let’s get started exploring these arrangements. As in Chapter 10, I establish a point of reference for you as you work through this chapter. Figure 11-1 shows a bill for PQR, Inc. using a slip-based billing arrangement.
Figure 11-1: The slips on this bill are covered by progress and interim billing arrangements as you work through the chapter.
As you work through this chapter and I describe the progress and interim billing arrangements, I show you the bill for PQR, Inc. using each ...
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Exploring progress billing arrangements