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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.

On every task you can decide if your task follows a Fixed price or Time & Material based billing. To set this value,

  • Edit your task and click on the Advanced tab and navigate to the Financials section.
  • Here you will see the Billing Type drop-down with options: No Billing, Fixed Price, Time & Material. If you select Fixed Price, you will see a box to enter the amount.

Point to note:

  • When you create a task, its Billing type is automatically set to the project's Billing Type.
  • When a task's billing type is Time & Material, then the Billable option is always checked for time entries and expenses made against such task.

How Revenue is calculated




Planned Labor RevenuePlanned RevenueActual Labor RevenueActual Revenue
Task
No BillingIt is 0 since this is a Fixed PriceIt is 0 since this is a Fixed PriceApproved Time entries which are billableActual Labor Revenue + Task’s Fixed Price + Approved Expenses (billable)
With Fixed PriceIt is 0 since this is a Fixed PriceThis is always equal to the Fixed Price amount of the taskApproved Time entries which are billable

Actual Labor Revenue + Task’s Fixed Price (after it is completed) + Approved Expenses (billable)

With Time & MaterialResources Planned Effort * Bill RateResources Planned Effort * Bill RateApproved Time entries which are billableActual Labor Revenue + Approved Expenses (billable)






ProjectWith Any Billing typeSum of all its tasksSum of all its tasksNASum of all its tasks
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