Create an Invoice and Review its Valuation

Depending on your permissions, you might be able to access the Invoices page. Click "Create" located at the top right.

An introduction on invoicing and on how to use status updates can be found here: Introduction: Status Allocations and Invoice Amounts.

For some users, it is easier to create an invoice through the project page. Click on the "Finance" tab and then "Create".

It is generally advised to create an invoice from the project page. Kompass will automatically populate fields 1 to 4 (circles in red) if created from the project page.

Fields

a/a	Field	Description
1	Organization [required]	The organization this invoices is raised for.
2	Project [required]	The project this invoice is raised towards.
3	Invoice Reference [required]	The invoice reference. Kompass will automatically use the Project ID followed by an incremental index.
4	Details	Additional details can be added here.
5	Type	Automatically set by Kompass by amount. A record with positive amount will be marked as an invoice, with negative amount will be marked as a credit note and if transactions between proposal item allocations sum to zero, it'll be a journal.
6	Synchronize	In case your Kompass account is integrated with your accounting software, you can decide whether you want the invoice to be synchronized with it.
7	Date [required]	Date the invoice is raised. Kompass will automatically set the field on today's date. User can change that.
8	Due Date [required]	Due date for the invoice to get paid. Kompass adds payment days on the date. Payment days are setup by your organization.
9	Billing & Timesheets Start and End	Usually, an invoice is raised in the beginning of a month for works carried out in the previous month. Billing period dates define the period when the invoiced works took place. Those dates must be filled in when invoice export needs to include timesheets of a certain period.
10	Attach File	Click the button to allow you attaching additional files that can be sent directly to your clients through Kompass.
11	Notes	Any additional notes to record for the invoice.
12	Tags	Tags linked to the invoice which can be searched.
13	Proposal Item Allocations	Net amount to be invoiced by proposal item.

Proposal item allocation table includes the amounts that will be invoiced and contains important information.

Row	Description
ID	Proposal item ID.
Name	Proposal item name.
Department/ Service	Department and service of the proposal item to be invoiced.
Type	Type of proposal item (lump, rate.)
Price/ Sales Tax	Price and sales tax of the proposal item
Nominal Account	Nominal account of the proposal item (core, subcontract.)
Price	Price of the proposal item by nominal account.
Status Value	Value based on the latest status updated recorded under each quote item.
Invoiced	Amount already invoiced in previous invoices.
Remaining Value	Remaining value that can be invoiced. It can be easily calculated by subtracting the invoiced amount from the status value.
Amount Net	Net amount to be invoiced per proposal item. It can be set by the user. The right arrows will transfer the Remaining value into the Amount net field.
Amount Tax	Tax of the invoiced amount per proposal item.

As can be seen in the table above, there are multiple different scenarios per proposal item.

Proposal item 194171 (1), the current status value is $498.45, which is the amount defined by the percentage of completion of this lump sum proposal item, as set by the project manager. $200 have been already invoiced therefore, we can currently invoice (498.45 - 200 =) $298.45. We have decided to invoice the full amount.
Proposal item 194151 (2), the current status value is $4,300. For some reason, we have over-invoiced $500 instead therefore, there is a $(500) credit on this proposal item.
Proposal item 194237 (3), the current status value is $262.50. We have raised a $100 credit note in the past therefore, we can currently invoice (262.50 - (- 100) =) $362.50.

Note: if you need further assistance on understanding how worked hours, status values and invoice allocations work and connect to each other, head to Introduction: Status Allocations and Invoice Amounts.

Complete the form and click "Save" when ready.

That will lead you back on the project page. A valuation table can assist you to further understand the invoicing state of the project.

Row	Description
Department	Department and nominal account of valuation. Proposal items of the same department and nominal account are being aggregated.
Last Update	Last status update performed by the project manager
Price	Price of all proposal items by department and nominal account
Valuation	Valuation of all proposal items by department and nominal account
Invoiced	Invoiced amount of all proposal items by department and nominal account
WIP (work in progress)	Can be calculated by subtracting "invoiced" from "valuation". A negative number suggests a credit amount (invoiced more than valuated) while a positive number suggests work in progress (invoiced less than valuated).