Invoice, Collect, and Audit

Workday Billing provides support for various types of billing and payment terms to help your organization automate and increase accuracy of your customer invoices. Reduce the need for manual intervention and minimize revenue leakage thanks to automated configurable billing processes.

With Workday Billing you can:

• Streamline and automate the creation of invoices based on customer contract billing terms and schedules
• Accelerate cash collection cycles and reduce errors caused by manual processes
• Automate complex billing processes and different types of products or services, such as Project Time & Expense, Fixed Fee Projects, and Subscriptions
• Configure billing schedules and tie milestones to schedule and/or individual billing installments

Automated Billing

• Automate billing for various types of products or services, including one-time or recurring, time and expense billing, and/or milestone billing
• Bill in regular intervals and/or tie different types of milestones to the overall schedule and/or specific installments
• Create consolidated invoices from multiple contract lines in different contracts
• Route for approvals before invoice is issued
• Issue electronic invoices through email or paper invoices through the mail

Project Time and Expense Billing

• Automatically generate invoices from billable time and expenses, reducing revenue leakage and eliminating errors caused by manual processes
• Capture employee and contingent worker time spent on projects in a unified system for easier project billing
• Configure contract-specific billing rates for each member on a project
• Empower project managers to review, hold, or modify billable time and expense transactions without losing visibility to changes
• Preview invoices before issuing to customers
• Provide as much or as little detail on invoices as needed to meet your clients' requirements
• View all billable time transactions that have been modified, held, or waiting to be invoiced in a central project billing work area
• Invoice for goods and services within the same contract
• Support invoicing and utilization of unlimited prepayments
• Automatically apply advance payments to customer invoices, reducing manual steps needed and increasing invoice accuracy

Accounts Receivables

• Configure rules to automatically apply customer payments to invoices
• Support multiple payment methods including credit card and direct debit
• Gain insight into comprehensive customer details, including past activity, current and overdue balances, and aging history
• Work in Process reports provide insight into upcoming invoices for future cash flow analysis
• Directly link invoice adjustments to invoices
• Record and deposit a customer payment as a single consolidated step or separately to support the unique requirements of the specific transaction
• Manage payment returns and acknowledgements
• Create Day Sales Outstanding and Delinquent Days Outstanding reports to review collections efficiency