The organization handles a lot of pre-paid projects where the company collects the amount before the commencement of the project and adjusts the amount against the amount billed to the client over a period of time. The organization would like to use Web TimeSheet to track the amount pending to be billed against the project at any point of time.

Please find below the steps below to create a pre-paid project and a report to track the amount pending to be billed against the project.

  • While creating a project, add the amount collected from the client in the Estimated Cost field.
  • Create a report based on Project Status template and enable the fields “Time Billable Amount” and “Project Estimated Cost” and other fields according to your requirements.
  • Create 2 custom columns, one to rename the Project Estimated Cost field as Pre-paid amount and the second column to calculate the difference between Pre-paid amount and Time Billable Amount. To rename the Project Estimated Cost field, add a custom column, name it as Pre-paid amount and insert the field "Project Estimated Cost". To create the second custom column, add another custom column, name it accordingly and insert 2 fields and include them in the formula below.

    Project Estimated Cost-Time Billable Amount.

  • Save the report settings.
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