Invoice billing projects provide a flexible solution for clients seeking continuous support from contractors. Here's a guide to navigating Invoice billing projects, including both fixed and hourly types.
Understanding Ongoing Projects
Ongoing projects are designed for tasks or projects that require regular, continuous attention over an extended period. Clients can choose between two types of ongoing projects: fixed and hourly.
Invoicing Billing Projects
Invoice billing projects are designed for tasks or projects that require regular, continuous attention over an extended period. Clients can choose between two types of Invoice billing projects: fixed payments and hourly payments.
Fixed Invoice Billing Projects
For fixed invoice billing projects, clients and contractors agree on a set scope of work to be completed on a recurring basis. Clients pay a predetermined amount for each cycle of work, regardless of the actual time spent by the contractor. Fixed billing projects are ideal for tasks with well-defined deliverables and consistent workloads.
Setting Up Fixed Invoice Billing Projects
Clients initiate fixed invoice billing projects by defining the scope of work, specifying the payment amount for each cycle, and establishing the frequency (weekly, bi-weekly or monthly). Contractors review the project details and accept the recurring project if it aligns with their availability and expertise.
Hourly Payments Invoice Billing projects
In hourly invoice billing projects, clients pay contractors based on the actual time spent on each cycle of work. Contractors track their hours worked and submit them for client approval (this generates an invoice) and payment. This recurring project is suitable for tasks with varying workloads or uncertain project requirements.
Payment Structure for Invoice Billing Projects
For both fixed and hourly invoice billing projects, clients make regular payments to contractors based on the agreed-upon schedule (weekly, bi-weekly or monthly).
Flexibility in Invoice Billing Project Duration
Clients have the flexibility to determine the duration of invoice billing projects based on their long-term needs and budget considerations. Whether it's a short-term engagement or a continuous partnership, clients can adjust the project duration as needed.
Managing Invoice Billing Project End Dates
For invoice billing projects, clients and contractors can mark the project as complete at any time.
In summary, invoice billing projects offer a flexible and scalable solution for clients seeking continuous support from contractors. With clear payment structures and flexible project durations, clients can effectively manage their long-term projects on Contra.