Retainer Based Projects

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    Antje Strauch (Partner+)

    If you don't intend to invoice this additional work, you should do a revenue adjustment for it, i.e. write it off.

     

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    Antje Strauch (Partner+)

    Your issue is that you can't dispatch the deposit invoice, which is an essential step.

     

    I will continue this conversation with you directly by email.

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    Nikola Rendulic

    Please, after Monthly Reconciliation Procedure is executed, as per this guide, there is still actual work pending to be invoiced. Please do we also need to created a furhter invoice for actual delivered work, and what happens with that second invoice? It should not get dispatched to the client, but we can't have invoicable work remaining/hanging on the engagement.

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    Nikola Rendulic

    If two invoices are created (one for deposit and one after work is delivered), how invoicing reports distinguish those two and prevent revenue&invoices double counting?

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    Nikola Rendulic

    Thank you, Antje. Hope you'll agree that this article doesn't cover e2e journey for retention projects invoicing, and that it should be reviewed and updated - once deposit is invoiced and later work delivered, Monthly Reconciliation Procedure chapter i.e. in Scenario 3) says that we should write-on revenue. Article says nothing on what to do with invoicable amount once work is delivered.
    Even more, the article is contradictive as it says that both deposit should be entered and the PO, like also deposit initially should be invoiced and later delivered work should also get invoiced. We can follow your steer to write off the delivered work, but please can we have one final confirmation that this is a definite way to go.

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