Invoicing for a retainer is achieved by invoicing for each period. The invoice will be pre-configured with line items based on the period template. Of course, you can easily create additional invoices against a period if necessary.
The retainer view screen provides a summary of the items to be billed with each period:
You can configure your retainer to automatically generate an invoice as part of the automatic period renewal process. To review these settings, view your retainer and then click Retainer > Edit Retainer.
Firstly you must have the "Auto Renew Periods" option enabled. Then you must select whether an invoice should be generated and sent
Note that the Billing Type in the Period Template must be set to "Pre-Paid".
If you're unsure what will be invoiced, it will be:
When viewing a retainer, the period list will help you see which periods are yet to be invoiced.
Click Create against a period to open the invoicing screen
1. Enter/update the subject for the invoice. E.g. "Website Maintenance, Qtr3 2013"
2. Bill to - use this field to adjust the billing contact. If you choose to email the invoice, it will be sent to this contact.
3. Line Items are pre-built based on the period template. Click New Line Item to add another. You'll need to give the line item a description, account ledger, tax code and enter an amount (click to update).
4. To remove a line item, click the red X. Or to update a line item, click the title/description ares or amount field to edit.
5. The Invoice Description field allows you to add some overall notes to the invoice. These will be shown on the emailed/printed invoice.
6. Created Date - this will default to today. It is also known as the date of issue (or invoice raised date).
7. Due Date - this will default according to the due days in your accounts configuration (typically 14 days).
8. Send methods - If you wish to deliver the invoice to the customer once saved, choose a send method. Note that the Postal option will only email the invoice to your accounts staff member to arrange postage.
9. Invoice will create the invoice. However, if you wish to close off the period so that no further work can be added or removed, click Invoice & Close Period.
If the billing type on your periods are "pre-paid" then you will typically invoice for the pre-paid price up-front. This can mean at the end of the period, you my find more work has been allocated than allowed and, depending on your arrangement with the client, you may need to create an invoice for the excess work.
The excess invoice will have 1 line item automatically added. The value will be based on the excess time and the rate type that the period is set to use.