Our Premier customers will soon be able to submit time and expenses for review, helping ensure that only approved line items make their way onto a client invoice. Maybe you’ve been in this situation before: at the end of a job, you send the final bill to your client and get an urgent call from them. They’re shocked by the total and want a detailed explanation. With this upcoming feature, we’re bringing peace of mind to the whole invoicing process by giving you an early checkpoint for your invoice line items, thus eliminating that unhappy call.
From the perspective of the person sending the invoice, this upcoming feature will help you feel more secure about invoicing for multiple projects at once. You can be confident that the time and expense items available for invoicing have been reviewed and approved by the person with the most context for the work being done -- the Project Lead.
With more confidence, you may find it easier to invoice as the project progresses, instead of sending a giant invoice at the end. By sending invoices more frequently, you can give your client more visibility into the progress of your project.
In addition to optimizing your billing and invoicing processes, incorporating regular review into your business practices will also benefit you by increasing your oversight into the work being done on a day-to-day basis. Since Mavenlink’s Time and Expense Approvals feature incorporates an annotated rejection notice, you can give feedback to your reports when their time or expenses don’t meet the acceptance criteria.
Check out several other benefits:
Premier customers can already create and send invoices with Mavenlink, as well as submit time and expenses to QuickBooks. With the upcoming Time and Expenses Approvals feature, only approved expenses and time entries will be available to invoice or submit to QuickBooks.
- Project Leads and anyone with financial access in the workspace will be able to review time and expense submissions in the project’s Activity Feed.
- You can set a project default at the Account level to require time and expense approvals and you can turn this requirement off at the project level for internal projects that may not require this step.
- With this upcoming feature, you’ll be able to create Expense Reports, which gives context to a group of expenses with the ability to title and describe the expenses incurred.
- When a project participant submits their timesheet and expense report, the items become locked so that the reviewer is seeing exactly what was submitted.
- The person who submitted time or expenses for review receives a notification when their timesheet was approved or rejected.
We’re putting the finishing touches on this feature now! Our Premier customers can expect to see this new feature available in their accounts this Fall. Don’t hesitate to email us at email@example.com or comment below if you have questions or feedback.