Learn about Fixed Price Agreements

The FPA workflow

Invoicing clients according to FPAs can improve your firm's cashflow and enables clients to pay their bills regularly, instead of receiving one large invoice. Although this requires some initial setup work, the process is mostly automated going forward. It involves bundling several jobs together into an FPA master job, and managing the final WIP balance in the master job.

• An FPA combines a number of different services for one client into a fixed fee.
• You have to setup and work with individual jobs as well as a master job.
• The master job will contain the WIP information for the entire agreement.
• The client is charged a set amount each month.
• WIP from individual jobs is transferred to the master job as jobs are completed.

The FPA tasks

• Set up FPAs
  • Create an FPAM job type
  • Create FPA dynamic fields (optional)
• Set up clients for FPAs
  • Add automatic fees
  • Update the FPA dynamic field (optional)
  • Create FPAM jobs
• Manage FPA Jobs
  • Create and work on jobs
  • Transfer WIP to the FPAM job
  • Create monthly invoices
  • View FPA on reports

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