With fixed price projects, there are certain milestones where certain amounts of fixed price is billed. Celoxis allows you to bill the time-entries and expenses spent on your tasks depending on its Billing Type.
Celoxis provides the ability of billing at specific milestones. On every task you can decide if your task follows a Fixed price or Time & Material based billing. To set this value,
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How Revenue is calculated
| Billing Type | Planned Labor Revenue | Planned Revenue | Actual Labor Revenue | Actual Revenue | |
Task | No Billing | It is 0 since this is not a Fixed Pricebilling task | It is 0 since this is not a Fixed Pricebilling task | Approved Time entries which are explicitly marked billable | Actual Labor Revenue + Task’s Fixed Price + Revenue (marked billable) + Approved Expenses (marked billable) |
| Fixed Price | It is 0 since this is a Fixed Price | This is always equal to the Fixed Price amount of the task | Approved Time entries which are billable | Actual Labor Revenue + Task’s Fixed Price (after it is completed) + Approved Expenses (billable) | |
| Time & Material | Resources Planned Effort * Bill Rate | Resources Planned Effort * Bill Rate | Approved Time entries which are billable | Actual Labor Revenue + Approved Expenses (billable) | |
| Summary Task | With Any Billing type | Sum of all its child tasks | Sum of all its child tasks | Sum of all its child tasks | Sum of all its child tasks |
| Project | With Any Billing type | Sum of all its summary top-most tasks | Sum of all its summary top-most tasks | NA | Sum of all its summary top-most tasks |