Summary:
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.

Resolution:
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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