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Price model: Fixed price
The price model Fixed price is used if the hours worked is not related to the amount that the customer is invoiced. For these projects it is important to manage costs, to ensure the true cost does not exceed the fixed price.
The fees in the fixed price model is defined using the Payment plan. Here you can setup when a fee is to be invoiced, and when it has been invoiced, a link to the invoice will show in the status column.
These are the options available for a fixed price model:
Included in total price
Appear in to be invoiced
Total fixed price: Type in the total fee agreed for this price model. This amount will show up in the invoicing summary, which can be visible to the customer. All amounts are excluding VAT.
To construct the payment plan, press +Add new payment. Here you can determine a date and the amount. The payment will show up under Finances > To be invoiced when issue date equals or is after the date selected in the filter. Only after you create the invoice will the invoice date get established, and may not be the same as the issue date. Most Moment users bill for a month at a time, so we recommend you add the last day of the month in the payment plan. Should part of the fixed price be invoiced outside of Moment, you can add a payment equal to that amount, and mark it as Invoiced.
In many fixed price projects, there isn’t defined any payment plan. In those cases, it is normal to make a judgement of how much should be invoiced at the end of the month based on how much work has been done. Should the project not have a payment plan, we will show you a suggestion under Finances > To be invoiced. There we summarize all hours on the project and multiply it with a standard hourly rate for the current workers. You can easily overrule this amount and e.g. round it up to an appropriate amount.
Defines whether the total price includes project expenses / product sales. If selected, the project expenses / product sales will not be shown under To be invoiced. This can be overridden on every project expense / product sale will not be shown under To be invoiced. This can be overridden on every price model and on every product sale.
This logic does not affect whether the project expenses/ product sales are included in the invoice summary. For that see the invoice setting Included in invoicing summary.
You can add a surcharge to invoiced hours or invoiced expenses. The surcharge itself is added to the invoice line.
We have a separate function for cost connected to administration work in the invoice settings. The administrative charge will show as its own invoice line.
This setting will set new hour records as billable. In practice this will change the price model to non billable. This is useful for when a project is finished and the customer won't be invoiced, and thus any extra work will not give any income to the company.
This will make the price model show separately in to be invoiced from other price models on the project.
This option to invoice separately also exists on activity level.
This allows you hide certain values from the invoice. These values can be invoiced at a later date if needed.
As of April 2022, a new feature is available in Moment. You can now invoice individual fixed prices for different activites. This is specially useful if you work with a project in which different small activities come up and you need to be able to quickly register hours on them and invoice them based on a fixed price. This can also be useful to invoice up front for certain activities.
To set this up, choose "activity" as the fixed price base. And then connect the activities to the price model. An equal amount of fields for price input will be available in the price model (see fields marked in green)
Set up a price for each individual activity, set a date in whish the invoice to be created. You also need to set the individual activity line as "ready for invoicing". After this, you will be able to create invoices based on this structure.
To add more activites to the price model, simply create a new activity, connect it to the price model, define a price and a date and you are ready to start invoicing.