Invoices

On this tab, invoices for the project are generated. Users create invoices for their clients based on agreements and the project’s invoicing frequency. The system also has a separate Invoices section where all company invoices created in the system are stored.

Create a new invoice by clicking the +Add new button.

New Invoice

Field

Description

Invoice Type

Regular*

A regular invoice

Prepayment*

Issuing payment in advance

Credit Note*

A credit note (suitable for refunding a client for prepaid but unfulfilled work).

Invoicing period*

The time frame for which the services or products are being billed

Project*

The name of the project

Billed to*

The client or customer being invoiced

Issue Date*

The date the invoice is created

Due Date*

The payment deadline

There are two possible types of invoicing:

Automatic

With automatic invoicing, the system suggests what should be included in the invoice. It calculates how many hours were expected to be included in the invoice and how many hours were actually reported by employees. This makes it easy to see if any employees have not yet logged their time. The system will not allow this invoice to be generated and will display an error. At this stage, you can ask employees to log into the system and report the missing time or do it yourself from their profile (if you have the necessary access rights). However, if you are confident in the accuracy of the invoice data, you can describe in a separate Notes field why you believe this invoice should be created with the given data.

If the reporting period is already closed, the employee can seek help from the project manager or accountant, who usually has the authority to reopen reporting access. Reopening reporting for previous periods is performed in a separate section called Opening reporting.

Manual

With manual invoicing, the following information must be specified:

• Employees who worked on the project

• Rates

• The number of hours to be included in the invoice

The system will then generate an invoice based on the entered data.

All invoices are created with the status Draft. This status allows the user to review a preview of the invoice and verify all the details before sending it. If everything is satisfactory, proceed by clicking Ready to Send. At this stage, you can:

• Send

• Mark as “Sent”

• Return to Draft

• Cancel

• Download as PDF

In addition to the recommended worked hours, the invoice may include client discounts, payment for additional services, or compensation for any incidental expenses.

On this tab, we also have the option to manually track the payment of the invoice. This means that you can mark the invoice as Paid by clicking the Paid button. Once this is done, the invoice status will change to Paid, indicating that the client has settled the invoice.

Additionally, ITFin allows integration with banking systems, which can automatically upload transactions. During the reconciliation process, payments for invoices can be accounted for, and the status will be updated automatically.

You can track how many of the reported hours have been invoiced through the Paid Hours Report.

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