Billing Schedules and Billing Events
Overview of Billing Schedule Feature and Permissions
Rocketlane’s Billing Schedule feature allows project teams to automate and schedule invoicing events based on specific triggers (dates, task completion, or project milestones). This helps ensure that invoices are generated or reminders sent at the right times without manual intervention. Billing events can be configured as part of a billing schedule (multiple events planned together) or as individual events tied to particular triggers.
Before using billing schedules, an admin must enable the feature and appropriate permissions for the team:
Enable Billing Schedule Permissions:
In Settings > Permissions (under the relevant User Type and Invoicing section), enable the options for viewing and managing billing events. Specifically, grant users:
Can view the billing events for the project – allows viewing scheduled billing events (project-level scope).
Can create and edit billing events for the project – allows creating new billing schedules/events and modifying them (project-level).
Manage Billing Schedule Templates: If you want certain roles to create or edit global billing schedule templates, enable Permission to manage billing schedule template. This lets users define re-usable billing schedule structures across projects.
Once the above permissions are in place, the Billing Schedule tab will be accessible within projects, and authorized users can create or modify billing schedules and events.
Creating a Billing Schedule
For projects where you need to set up multiple billing events (e.g., billing at various milestones or dates), you can create a custom billing schedule. This schedule is essentially a series of billing events defined in one go. Follow these steps to create a billing schedule within a project:
Open the Billing Schedule Settings: Navigate to your project and go to Project Settings > Billing Schedule. In the Billing Schedule section, click Create Custom Billing Schedule to start the setup wizard.
Set Schedule Details – Define the triggers and amounts for each billing event in the schedule.
Choose an Action: First, select what action should happen when each billing event is triggered (this applies to all events in the schedule). The options include:
Create draft invoices – automatically generate invoices in “Draft” status.
Create in-review invoices – automatically generate invoices and mark them “In Review”.
Send reminder to create invoice – no invoice is auto-created; instead, a reminder notification is sent prompting the user to create an invoice.
Select Tasks as Billing Triggers: Choose the project tasks that will drive the billing events. Click Add tasks... and select the relevant milestones or tasks from the list. (For example, you might select milestone tasks like "Kick-off Meeting", "Phase 1 Completion", etc., that correspond to when you want to bill.)
Define Task Billing Details: After selecting tasks, a table will appear where you specify the billing details for each task:
Task Status Condition: Set the status that the task must reach to trigger the invoice. Typically, this would be the task’s completion status (e.g., “Completed”). Each invoice in the schedule will be auto-created when its corresponding task reaches the specified status.
Amount to be Invoiced: Enter the amount you plan to invoice for that task’s completion. This can be a fixed currency amount.
% of Fixed Fee Budget: If the project has a fixed-fee budget, you can alternatively (or additionally) specify the amount as a percentage of the total project fee. For example, you might allocate 25% of the project’s fixed fee to a “Phase 1 Completion” task. The system will calculate the corresponding amount and display it. (Ensure that the sum of all percentages does not exceed 100% of the project’s fixed fee.)
Scheduled Invoice Date: Set the date on which the invoice should be created for that task. This is effectively the target date for billing that milestone (often this might coincide with the task’s expected completion date).
As you fill in these details for each task, the interface will typically show a Total of the amounts/percentages allocated versus the project’s budget, helping you verify your schedule planning.
Set Invoice Details – Configure the details of the invoices that will be generated:
Invoice Issue Date: Specify when each invoice should be dated in relation to the trigger. For example, you might set the issue date to 0 days after the invoice is created (meaning the invoice date will be the same day the event triggers), or you could post-date it a few days if needed.
Invoice Due Date: Set the payment due date offset for the invoice, e.g., X days from the issue date. For instance, if you enter 30 days, the invoice due date will be 30 days after the issue date.
Line Items Template: Define the line items that should appear on the invoice. You can add one or multiple line items and even include placeholders that pull in data from the task or project:
Typically, for a milestone-based invoice, you might add a single line item with a description referencing the task name or milestone (e.g., “Completion of Phase 1: [Task Name]”), quantity (often “1” for a fixed-fee milestone), and the amount or rate to bill.
Rocketlane allows using dynamic tokens for certain fields. For example, you could insert the task’s name automatically in the description field. (The interface provides options like Task Name, Task Completed Date, etc., along with the ability to set fallback text if those values are unavailable.)
You can add additional line items if needed (e.g., other charges or adjustments) and also add taxes or discounts as applicable.
You can also Auto-Generate Line Items from Time Entries/Subscription Periods.
In Time and Materials-Based projects, When creating an invoice, you can choose to auto-generate line items based on unbilled time entries. You can define a window using T - X days, where the T is the date of creation of invoice and X indicates a time that can range between one day to a month or even an entire quarter based on when you want to schedule your invoice.
In Subscription-Based projects, you can select the option of billing at start or end of periods, which are defined at the project creation stage. Invoices can auto-generate line items based on thecurrent subscription period, previous or an Upcoming period.
Preview and Confirm – Review the entire billing schedule before saving:
The system will display a Preview of the billing schedule, usually in a list format. Each selected task will be listed alongside the scheduled invoice Due Date (or creation date) and the Scheduled Amount to be invoiced. This lets you verify that, for example, “Task A – Due on May 01, 2025 – $200” and so on for each event is correct.
Verify that all tasks, dates, and amounts/percentages look correct. Ensure the total of all scheduled amounts matches expectations (especially for fixed-fee projects, check that 100% of the fee is allocated if that is desired).
If something is incorrect, you can go back to adjust. Otherwise, click Create (or Confirm) to finalize the billing schedule. Once created, the billing schedule is active – meaning as each task reaches the specified status and date, the system will carry out the chosen action (e.g., create a draft invoice for that milestone).
Your billing schedule is now set up. You can always return to Project Settings > Billing Schedule to view the schedule, make edits, or manually trigger events if needed. Each billing event from the schedule will appear in the project’s invoicing section (as draft or in-review invoices, or as pending reminders) at the appropriate time.
Billing Schedule and Billing Events for Time and Material & Subscription Projects
When configuring recurring billing schedules for Time and Material & Subscription Projects, you have the option to create billing schedule based on Date or Task. If you select Task, Invoices will be auto-created when the tasks reach the specified statuses (Just like in Fixed Fee Projects). If you select Date based, you can configure the schedule Periodically (only in subscription projects), Weekly, monthly, or on specific weekdays (e.g., every Monday and Friday).
The end of the billing cycle can be defined by:
Project completion
Specific date
Number of occurrences
If you select Project Completion you can also create an additional event after the project completion to invoice any remaining amount. Example: If a schedule runs Monday & Friday and the project ends on Thursday, create a project completion billing event to capture work done on Tuesday and Wednesday.
How to create and import a billing schedule template
To create a reusable billing schedule template, navigate to Settings and under the Operations and Financials section, select Invoicing > Billing Schedule Templates. Click the Create a new template button to begin. Start by naming your template in a way that clearly reflects its use case.
Next, select the project type this template applies to. You can choose between Time & Material or Subscription depending on the billing model. Define the invoice creation frequency by specifying an interval—for example, every 1 week or every 2 months. Then, configure when the billing schedule should end: either upon project completion, after a specific number of occurrences, or on a set date.
You'll then choose the type of action that should occur for each billing event—whether it should create a draft invoice, mark it as in review, or simply send a reminder to generate one. Set the invoice issue date (number of days after creation) and due date (number of days from issue date).
For line items, you can either manually add details like description, quantity, unit price, and amount, or choose to auto-generate from time entries. There's also an option to apply taxes using the Add tax feature.
Once everything is configured, click Save. Your billing schedule template is now ready for use and can be imported into applicable Time & Material or Subscription-based projects during billing setup.
Note: Billing Schedule Templates Can be created only for Time and Material and Subscription projects. You can easily import the created templates when setting up new billing schedules.
Creating Date-Based Billing Events
Date-based billing events are used when you want an invoice to be triggered on a specific calendar date, independent of any particular task or project status. This is useful for recurring time-based billing (e.g., monthly invoices) or a one-time scheduled invoice on a set date.
To create a date-based billing event:
Initiate a New Billing Event: In the project’s Billing Schedule area, choose the option to create a new billing event (this may be a button like Add Billing Event or part of the billing schedule interface). When prompted for the Billing Event Type, select Date based.
Set Billing Trigger (Date) – Provide the timing and action for the event:
Invoice Create Date: Pick the exact date when the invoice action should occur. This is the date the system will either generate the invoice or send the reminder. (For example, select May 30, 2025 if you want an invoice for that project to be created on May 30, 2025.)
Action: Choose what should happen on that date:
Create draft invoice – an invoice draft will be automatically created on the chosen date.
Create in-review invoice – an invoice will be created and marked as "In Review" on that date (perhaps if your workflow involves review before sending to the client).
Send reminder to create invoice – no invoice is auto-created; instead, the system will send a notification on that date reminding the responsible user to create the invoice.
Ensure the date and action are correct, then proceed to the next step.
Set Invoice Details – Configure the content of the invoice that will be generated:
Issue/Due Dates: Specify how to set the invoice’s dates relative to the creation date. Just like in a billing schedule, you can set an issue date offset (e.g., 0 days so it issues on the trigger date, or perhaps if you want the invoice document dated the first of the next month, you might adjust accordingly) and a due date (e.g., 30 days after issue).
Line Items: Define what line items the invoice should contain. In a date-based scenario, you might be billing for a time period or a fixed installment:
You could, for example, add a line item saying "Services for March 2025" with the total amount of services provided in that month. You would manually enter the amount or rate for that line item.
If the system supports pulling in unbilled time entries up to that date, you might use a line item template or placeholder for that (otherwise, you may simply create the event as a reminder and then manually compile the invoice).
Add any additional lines or taxes as needed, or use a saved line item template if available.
Review the invoice details to ensure accuracy.
Save the Billing Event: Click Create or Save to finalize the date-based event. The event will now appear in the billing schedule list for the project, typically showing the trigger date and the configured action. When the specified date arrives, Rocketlane will automatically carry out the action. E.g., generating the invoice draft and populating it with the defined line items.
You can set up multiple date-based events if your project requires more than one scheduled invoice (for example, a project might have a billing event on the last day of each month). Each event will handle one occurrence; for a repeated cycle, you would create multiple events or update the schedule template accordingly.
Creating Task-Based Billing Events
Task-based billing events tie invoice generation to the completion (or status change) of a specific task. This is ideal for milestone-based billing — for instance, “Invoice 20% when Task X is completed.”
To create a task-based billing event:
Start a New Billing Event: Go to the project’s Billing Schedule section and add a new billing event. Select Task based as the Billing Event Type (if not already selected by default).
Set Billing Trigger (Task Status) – Define which task and status change will trigger the invoice:
Task: Choose the specific project task that will trigger the invoice. A dropdown or selector will list all tasks in the project – pick the milestone or deliverable that you want to link to this billing event.
Status Trigger: Specify the status change that should fire the event. You will typically set a transition from one status to another. For example, you might configure the trigger as when the task moves from “In Progress” to “Completed”. (In the UI, you may select a “from status” and a “to status”. If the goal is simply the task’s completion, you could use Any or Open as the from-status and Completed as the to-status.)
Action: Choose what happens when the task reaches that status:
Create a draft invoice, mark an invoice as in-review, or send a reminder, as described earlier. For milestone billing, you’ll likely choose to auto-create an invoice draft or in-review so that it’s ready to send once the task is done.
This step essentially links the task’s workflow with the billing system: once the task meets the condition, the system knows it’s time to bill.
Set Invoice Details – Configure the invoice that will be generated upon the task’s completion:
Issue/Due Dates: Set the offsets for the invoice dates (issue date relative to trigger, and due date relative to issue) as needed. For most task triggers, you can set the issue date offset to 0 so the invoice is dated the day the task completed (or keep it 0 and just rely on due date offset for payment terms).
Line Items: Define the contents of the invoice:
Typically, you might want the invoice to have a line item referencing the milestone task. For example, add a line item with a description like “Completion of [Task Name]”, quantity 1, and the agreed billing amount for that milestone.
Enter the amount to invoice for this task. If this project is fixed-fee and this milestone represents a percentage of the total project fee, you can calculate that percentage and enter the corresponding amount here. (For instance, if Task X is 20% of the project fee, and the total project fee is $10,000, you would enter $2,000 as the line item amount.)
If needed, include additional items (perhaps to list any expenses or time & materials associated with that task if it’s a mix) or taxes. However, in many cases milestone invoices are a single line item for the milestone itself.
Ensure the line item(s) correctly reflect what needs to be billed when the task is done.
Save the Billing Event: Click Create/Save to finalize the task-based event. The event will be listed in the project’s billing schedule/events list. Now, when the specified task changes to the defined status, Rocketlane will automatically perform the selected action:
If you chose to create a draft/in-review invoice, the system will generate the invoice at that moment. You can then review it (add any actual time entries or expenses if needed, since by default it will have the line items you configured) and send it to the client.
If you chose a reminder, the responsible team member will get a notification that it’s time to create the invoice for that task.
Task-based events are perfect for ensuring you don’t forget to bill for project milestones. They essentially link your project management progress with billing.
Creating Project-Based Billing Events
Project-based billing events trigger invoice actions based on the overall project status. Use this when you want to bill at a particular phase of the project or upon project completion as a whole, rather than a specific task. For example, you might want to invoice a client when the project reaches the “Closed” or “Completed” stage.
To set up a project-based billing event:
Add a New Billing Event: In the project’s Billing Schedule interface, create a new event and choose Project based as the Billing Event Type.
Step 1: Set Billing Trigger (Project Status) – Select the project status that will trigger the billing event:
Project Status Trigger: Choose the status (from your project’s status workflow) that, when reached, should cause the invoice action. For instance, select Completed or Closed if you want to bill when the project is finished, or perhaps a mid-project stage like UAT Sign-off if that’s a billable milestone. In the configuration, you might see an option like “Trigger when project status changes to [Selected Status]” – e.g., when project status changes to Completed.
(If applicable) From Status: Some configurations might allow specifying from->to (for example, from any previous status to “Completed”). In most cases, simply choosing the target status is sufficient.
Action: Select the action to perform once the project hits that status (create draft invoice, in-review invoice, or send a reminder) as described above. Often for project completion, you would auto-create the final invoice.
Set Invoice Details – Define the invoice particulars for when the project status change occurs:
Issue/Due Date: Set how the invoice dates should be handled. Typically, you might issue the invoice immediately when the project completes (issue date offset 0 days) and set a net payment term for due date (e.g., 30 days after issue).
Line Items: Configure the line items of the invoice:
If this is the final project completion invoice (for a fixed-fee project), you might have a line item for the remaining percentage of the project fee. For example, if you billed 50% upfront and 30% on UAT, this final invoice might be the remaining 20% of the fee. You would then add a line item like “Final Project Completion – 20% of project fee” with the calculated amount.
For a time & materials project, maybe this invoice is to bill any remaining time entries or a wrap-up fee. You could list any final services provided.
Include any other charges or credits that are due upon project completion, and add taxes if applicable.
Make sure the invoice template covers everything needed for the final billing.
Save the Billing Event: Click Create/Save to finalize the project-based event. It will appear in the billing events list. When the project’s status is updated to the specified value, the system will trigger the event.