Project Types

With time & materials projects, you can usually bill for all recorded work. Billing is often done monthly.

Create a Project
Select "Time & Materials" in the project settings (1). Adding a budget is optional, but is usually useful for tracking purposes – a target date is not required. » Optional monthly hours allowance

Non-Billable Hours
Entire services (e.g. business development work) or individual hours can be set to "Non-billable" (e.g. certain corrections you decide to absorb). They do not count towards budget progress, but they do impact the project (profitability calculation/internal hourly rate).

Third-Party Costs on the Project
Third-party costs and other services that are independent of time tracking are recorded under Additional Services.

Classic Billing
All billable work recorded to date is added up in the project list under Billable Amount (2) . One click takes you straight to the billing options.  Check "Billable Items" (3) and select "Create Invoice" (use the arrow to choose Detailed Invoice or Compact Invoice).

A timesheet for the invoice is generated automatically and can be included when you send the email. To do this, tick the box in the sending dialogue, or set it as the default for the project in the billing information (4).

Alternative Billing
In principle, MOCO always keeps the billing method flexible. For example, for a time & materials project you can also bill the quote, and, if needed, adjust the hours shown on the invoice. Billable items that have been covered can be set to "Already billed". MOCO does this step for you when you archive.

A fixed-price project is usually billed in full at the end at the quoted fixed price – or you issue interim invoice(s) and a final invoice. The billing note and revenue forecast for a fixed-price project are managed via the billing plan.

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• If these are covered by the fixed price (= project budget), select "In Budget". 
• If you want to include the service for Billing, select "Billable". When creating the invoice, these billable items can be added to the invoice as additional line items.

In MOCO, a retainer corresponds to the settings combination: Billing Fixed Price + Monthly Budget.

The typical indicator in MOCO is the arrow shape of the budget bar, which points to the budget increasing month by month. In the project list, press "F" to open the filter and filter by "Fixed price with monthly budget".
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The automatically increasing budget
MOCO considers the budget up to the end of the current month. Starting at 0 on the 1st of every month is not ideal for control, because it ignores the overall financial picture. There are usually two situations:

• See the current status directly in the project list
• Monitor the current month via Notifications & the project report
• Optional display of remaining hours in time tracking (budget or monthly budget only)
• Total hours over the full term can be planned in capacity planning
• Labelling & filter option for retainers in the project list

Create a Retainer

1. When creating a new project, select "Fixed price / flat fee" and "Monthly budget?".
2. Enter the starting budget (usually 0.00), the monthly amount, and the term. If the retainer starts in the current month, enter the monthly amount as the starting budget. For checking, MOCO shows the projected amounts in a blue box.

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The retainer information is shown in the project details (3).

Planning

Monitoring

(1) Check the current status in the project list. Clicking this budget progress bar takes you to the project report.
(2) Under "Hours", you can see how many hours you are currently over or under budget. Above the monthly chart (mouse-over for hours + amount) there is a marker. Further down, the months are broken down in more detail with remaining amount and remaining hours. Planned hours are also visible and comparable.
(3) The budget progress bar shows the cumulative budget including the current month, worked, and remaining.
(4) Monthly breakdown
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Billing 

1. On the billing date, MOCO suggests the monthly amount for billing in the project list.
2. Clicking it takes you to the Billing page with the billing schedule.
3. Create the invoice via "Billable items" (or via Bulk Billing)

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MOCO creates an automatic billing schedule (2) starting from the next full month of the selected term (create any invoice still needed for the current month manually or add it as an item). You can adjust the billing date and item description, and add a description.
On the 1st of each month, the billable item is created and can generally also be selected and billed manually under "Billable items" before the billing date. 

Forecast (Planned Billable)

Additional Work

An hourly retainer is a project with a monthly budget (cost cap) that is billed based on time spent. For example, an ongoing support project such as software maintenance or a maintenance contract. You agree a certain number of hours (or an amount) with the client that can be delivered without needing budget approval every time.  

The monthly budget is automatically added each month, so you can always keep track of the total budget to date — as well as the monthly budget.

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Benefits at a Glance

• Included in the financial report (2) as planned Billing until the end of the term
• Keep track of the current month via notifications & the project report
• Track work completed vs. the current total budget in the project list and the project report
• Show remaining hours for time tracking: you can choose to display only the monthly hours (Settings > Time Tracking)
• Capacity planning: total hours across the term can be planned
• Label and filter option in the project list

For recurring amounts with their own term, such as hosting or domains, you can also use a project — and have the amounts generated automatically for Billing.

1. Create a project with the setting "Time & materials" and without a budget. If the subscription end date is already known, set a target date. Delete the default services that are automatically added after saving for time tracking, so it is not offered for time tracking.
2. Create a recurring additional service. On each key date, the billable line item is created; you do not need to specify an end date yet. Ideally, subscriptions are billed on the same key dates (for example, always in advance on the 1st / at the start of the year / at the start of the quarter, etc.).

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Filter/Bill
Ideally, mark "subscription projects" with a Label (e.g. "Subscription"). This means you can filter them at any time with one click and bill them together.
All information on targeted bulk Billing

Forecast
These recurring additional services are also shown as planned revenue.