Managing billing frequencies

Billing frequencies are essentially the frequency at which the various clients are billed. A fixed frequency of billing is ideally suited for projects that are being billed based on the timesheet hours logged by the resources working on that project. 

It is possible that different clients or projects are billed at different frequencies. Some projects may be billed monthly, while some projects may be billed more frequently. Keka PSA allows you to configure a set of pre-determined billing frequencies. You can set up a weekly, biweekly, or monthly billing frequency. 

The timesheet entries for these billing periods are categorized so that you can quickly add the relevant timesheet entries for a billing period and generate an invoice for the client. The invoice will also contain the details of the billing period.

You can also choose how you define the start of the week in case of weekly or biweekly billing. You can choose any day of the week as the start of the week. You can also choose which day is the beginning of the month for this billing frequency. This is essential as you may be working with clients who have different preferences or to accommodate for a mid-month start to a project. 

This level of control allows you to create schedules for invoicing the clients tailored to their needs. You can add as many billing frequencies as you wish and these can then be assigned to different projects as per your terms of agreement with the clients. 

Let us see how you can add and manage billing frequencies on Keka PSA. 

You can configure the billing frequencies from the Billing Frequencies page. Navigate to Project (1) from the left navigation pane and go to the Finances tab (2). Select the Settings (3) tab and go to Billing Frequencies (4).

 Here, you can see the billing frequencies that are already configured. To add a new billing frequency, click on +Add Billing Frequency. 

In the Create Billing Frequency window, enter the Frequency Name which will help you identify this billing frequency. 

It's now time to set up the frequency you want by selecting from the Frequency Type dropdown. You can select between Weekly, BiWeekly, and Monthly frequencies for the billing periods. 

In the next field, select the start day for the period. If you select Weekly or BiWeekly as the frequency, you will see days of the week as options. If you want the billing period to start every Monday, select this from the drop-down. You can select any day as the start of the week. 

If you are setting up a monthly billing frequency, you can choose any day of the month as the start date. In the example below, we are trying to setup a billing frequency starting on the 15th of the month every month. 

Make the choice you want. You can see the 2 upcoming periods as a preview on the window. When you setup a new billing frequency, the periods for the past 6 months will also be generated. 

Click on Create once you have entered all the necessary details. 

You can now start assigning this new billing frequency to projects who want to bill using this cycle. 

You can easily enable or disable a billing frequency using the toggle button against each on the Billing Frequencies page. You can also edit a billing frequency by clicking on the Edit icon here. The number of projects that has been assigned this billing frequency is shown under the Active Projects column on this page.

That's all about adding and managing billing frequencies on Keka PSA. More questions? Talk to our product experts today!