Aggregated Invoicing for Contracts in BigChange

BigChange offers flexible invoicing options to accommodate varying contract requirements and cashflow needs. This method of aggregated invoicing allows for the creation of line items for jobs charged against contracts, enabling automatic periodic invoice generation.

The periodic invoice value is determined by the contract's total value, invoice frequency, and contract duration.

Creating Line Items for Jobs

• When this invoicing method is selected, jobs are added to create line items.
• The financial values of these line items populate the contract's details page.
• The total of these line items forms the contract value.

Calculating Periodic Invoice Value

• The contract value is divided by the invoice frequency and contract duration to determine the periodic invoice value.
• Example Calculation:
  • Contract value (total of jobs’ line items) = £70,000

• • Invoice frequency = monthly
  • Contract period = 36 months
  • Calculation: £70,000 ÷ 36 = £1,944/month

Example of an invoice for 1 month based on aggregating £70,000 over 36 months

Adjusting for Additional Jobs

• If additional jobs are added, the periodic invoice value is recalculated.
• Example Adjustment:
  • Two additional jobs at £1,000 each are added in month 34.
  • Current cost of the last 2 months = £3,888
  • New total: £3,888 + £2,000 = £5,888
  • New periodic invoice value: £5,888 ÷ 2 = £2,944/month

Conclusion

BigChange's invoicing options provide flexibility to meet diverse contract requirements and cashflow needs. By understanding how to create line items and calculate periodic invoice values, you can effectively manage your contracts and ensure accurate invoicing. For further assistance, explore additional resources or contact support.