Fixed price contracts are the backbone of many construction businesses, but managing them efficiently can be a challenge. In this Knowify Deep Dive webinar, we walk through every step of building, invoicing, and tracking fixed price contracts, so you can streamline your workflow, get paid faster, and stay on top of profitability. Whether you’re new to Knowify or looking to sharpen your skills, you’ll gain practical, real-world insights you can put to use immediately.
Key learning outcomes:
welcome in, everyone. I hope everyone's having a strong end to the year. This is another installation of our nullify deep dive webinars where we pick a topic and go through a detailed training on that specific topic. So think instead of just a general overview of nullify, we're just going into as much detail as we can through the allotted time on a very specific piece of nullify. And today's topic is fixed price contracts and the invoices that correspond with them, and we'll also be discussing digital payments as part of this webinar as well. If you're unfamiliar with me, my name is Taryn. I've been working at NoFi for a little over ten years now, and my job is just to make sure that people are as happy with NoFi as possible. So whether that's how you interact with our team, with our, processes, with our product, that's basically what I'm doing day to day is just, making sure everyone has the most possible, positive possible experience. And a little overview of what we'll be covering today. We're gonna start by just kind of discussing what we mean when we talk about a fixed price contract, and then breaking down the different parts that make up a fixed price contract. Once we're through our, completion creation of the contract itself, we'll be discussing the concept of creating invoices off of these contracts, and just the different options that we have available there. And I'll always pull up my NoFi account at the end to do a demonstration in my account on how all of this works. If you have questions during the webinar, you can post them in Zoom's q and a. I do my best to answer as much as I can at the end. And as always, my associate, Vin, is on the line answering shorter or unrelated to topic questions that come in during the webinar. So, again, never be shy about, putting something in Zoom's q and a so we could take it from there. That being said, I'll go ahead and kick us off and just kind of start defining what we mean when we say fixed price contracts in nullify. And some of you may be more familiar with this concept concept as a lump sum contract. The idea here is a fixed price contract is just a contract in which the, cost for your goods and services provided to the customer are determined ahead of time. So instead of having terms of a contract, oh, we invoice for every hour spent, or we see how much we spend, and we charge you accordingly, or we invoice for every, piece of work completed. Nothing like that. This is the idea of, hey. We're gonna do the job for, in the screenshot provided, eight thousand seven hundred and fifty dollars. Just that predetermined number, that is, as the name suggests, a fixed price. We see that this is usually a common contract type amongst, subcontractors, both commercial and residential, trade contractors, some smaller GCs and remodelers will use this. But there's a lot that goes into it beyond just the concept of it being a singular price. Because a fixed price contract could be invoiced in parts, in percentages. Really, however, it can be, it can be invoiced in any, series of different documents sent out, up until the final invoiced amount comes out to the fixed price at the end. So, really, the idea here is if there's gonna be a variance beyond the proposed price that's given at the beginning of the project, that always happens via change order where instead of us saying, oh, well, we spent more, so we're gonna charge more. We have to have a signed document that's an addendum to the contract, which is our change order that says, hey. We're actually gonna be invoicing two thousand dollars more. Here's why, it gets signed off before moving forward with that. And that's the general idea of how these fixed price contracts and the negotiation is gonna work before we get to invoicing. Now inside NoFi, fixed price contracts are made up of a lot of different items here, or pieces. And the idea is at its core, our fixed price contract is built up of what we call line items, which are individual lines of service that we're providing to the customer with their own prices associated with them. So I may have a contract that comes out to ten thousand dollars, but it may be made up of ten different thousand dollar lines or one for four thousand, one for six thousand. Right? How we divide it up, how we get to that final fixed price can definitely vary, but the, fixed price at the end of the project will be how much we are invoicing. If you're familiar with the budgeting and cost tracking side of NoFi, these line items will often be affiliated with phases in your plan track section so we can kind of get a better idea of here's how much we make on this service. Here's how much we spent on it. So we can see profitability a little bit more granularly than just at the overall job level. Inside each line item, there's also a place for general details and comments about that item. So the entire contract might have its own description. Here's what we're doing in, the below quoted price. But then in each individual line item, I might say, this line item is demolition, and here's what's included in demolition. Every line item could also have what we call a bill of materials, which is essentially a more detailed breakdown of what goes into the line item. So we're still always invoicing the line item itself, but the idea is that I could say, well, we're charging ten thousand dollars for demolition, but here's why. Here's what I need to buy in. Here's what you know, we're charging in dumpster rental. Here's what we're charging in employee hours. Here's the subcontractors we need to hire so that if you have someone who is, gonna be pickier, they don't wanna just see the overall price, the build materials can help you get a little bit more detail in when communicating with the client. And the last thing you'll enter when setting up one of these fixed price contracts is gonna be your terms and conditions, which is basically just defining what's covered in this contract and how the invoicing process is gonna work. That goes beyond the work itself and says things like, here's how often we'll send an invoice. Here's when you have to pay us. Here are things that aren't included in our line of work, everything like that. Now once we have our fixed price contract, we can get into the concept of progress invoicing or progressive invoicing that goes off of the contract itself. And I mentioned this a little bit earlier at the top of the webinar, but the idea here is what we're doing is sending a variety of invoices, a series of invoices to our customer up until that total fixed price is met. And, again, there's not necessarily any fixed rule of the whole contract needs to be one invoice, two invoices, one per line item. How you end up invoicing is really up to what works for you and your practice and how your customers like to be billed. But the important thing, again, is that the final amount billed equals the amount that was originally quoted as the total value of the contract. Some common things that we'll see with this are, concepts like, as I mentioned earlier, invoicing each line item individually, invoicing each line item as progress. So as I make progress with demolition, I invoice that percentage of progress with demolition. We see a lot of people who will invoice the entire contract. So even though it's made up of five line items, they might say forty percent of the total contract value upfront. That's always a handy thing to be able to, manage. And as we're going through this, we'll see how it, can also end up, helping us a lot with managing our WIP, reporting in nullify as well. And so when we look at the percentage build, it's nice to compare that to the percentage spent, spent on individual line items to kind of get that concept of, okay. I know what percentage of the contract I've filled. I know what percentage of the budget I've spent. Where do we stand comparing those two? Have I spent a larger percentage than I've invoiced? If so, how much more should I be invoicing? These things are enabled as a result of us being good about having, fixed price contracts with detailed line items and detailed cost versus budget reporting in our plan tracking nullify. And I'll try to maybe cover some of that as we go. But, again, all of these webinars, we try to be a little bit more topic specific, so we'll make sure we spend a little bit extra time on the invoicing itself. When we are creating our invoices sorry, our fixed price contracts, we'll also have some options such as whether or not we wanna delay display line item subtotals. So what this means is really, do we quote the customer breakdown of here's every individual item that we're performing and how much we charge for that item, or do we just want that final fixed price to be how we communicate this? So if I look here, I have the same contract displayed twice. In both contracts, there's demo rough in and finish. They both cost forty seven, ten. But in the first option, I chose to display my line item subtotals so we can show the customer here's how much we charge for each individual service that we're providing as opposed to just the overall total, value of the contract. This first option, displaying line item subtotals, is handier when we're gonna be invoicing in more granular detail, whether it's one line item at a time or progress of each line item or dollar figures of each line item. This way, we can make sure the customer is understanding how much more will be billed and how much more will be performed on a line by line basis. But if we have an agreement that basically just says, hey. I'm going to quote this price, and this is everything that I need to do. Don't worry. Here's what's included, but I'm not gonna tell you how much I'm charging for each one. We charge forty percent upfront, forty percent halfway through, and at twenty percent at, closing. That type of contract is always very acceptable as well. It's just where we're, we might have more interest in hiding the line item subtotals so we don't have a customer do something like, shop around individual line items. Oh, well, how much are you charging for demo? Maybe I'll hire someone else for that. If you hide that, then you have a better ability to just say, hey. This is an all inclusive contract. Don't worry about the particulars. When we are creating invoices, we can get into different layout styles as well. What we see here is our standard invoice document that's meant to be very simple, cut and dry. Hey. Here's how much I'm invoicing. And you can see the line item breakdown here. Demo, seventy five percent, seven hundred and twenty dollars. Rough in, fifty percent, fifteen hundred dollars. Just so we can send something to the customer that says, hey. Here's what we're invoicing you for. Here's how much progress we've made. Just kind of quickly give them that overview of this is why you're paying me twenty four zero seven fifty here. But one thing that's commonly requested when it comes to our progressive invoicing and fixed price contracts is what we call the schedule values invoice, which you may if you're familiar with AIA invoicing, see that this is somewhat film similar to the schedule values, the secondary page on our AIA invoice. But this is the idea of saying, of just, hey. I'm invoicing you seventy five percent of demo saying, well, demo, we agreed on nine sixty. I haven't invoiced anything previously. Now I'm invoicing seven hundred and twenty, which is the total amount to date. That's seventy five percent, and here's the remaining balance. So if you wanna really use an invoice to convey progress and remaining amount needed to be completed on a project, this schedule values ends up being really powerful so that the customer really knows where they stand, with each invoice that's set. And then when you send the invoice, obviously, the last piece of the puzzle is making sure that the, customer pays you. You do have the ability in nullify to just record. The customer has paid me. They sent me a check, anything like that. But if you want things to be a little bit more automated, you also have the ability to send out a, link that will let them enter a credit card or ACH information directly through Noify, powered by Intuit payments, so that you don't have to have a secondary means to collect money. We do find that a lot of people do like this feature. You can get paid a little bit faster and, have a little bit more of a modern feel to your business that way. So let me pull up my account and walk through a couple of these flows that we, referenced here. I'm gonna start by adding a new job, and I will choose my client. And this is where I'm selecting my fixed price option. Now, since we're not gonna be worrying too much about budgeting and cost tracking, I'm gonna start with simple, which is gonna be, the easiest way to quickly just create a new job in nullify and start building out a contract. And when we start putting this together, we'll see that it fills in any information it knows already. So the intention is automatically, filled in to the company's contact. I can write in their PO number if David Putty sent me a a PO number requesting the contract. I can also have my own contract numbering that runs separately from my project numbering. So if I have projects and then contract number separate, we have that ability. And all of this could be displayed on the actual, proposal document that's generated. I can say, we expect to start today. We expect to be done by the thirty first. I can set what the payment, terms are on invoices, and then I have the ability to write in a general description of the project. This contract includes the following, and this doesn't have to be as detailed as my list of line items, but just a summary of, hey. Here's what we're sending a quote for. Here's what our project is for just so you can have that be almost a cover letter to the, proposal that you're sending over. But then we get to the important part where we start building out our line items, the actual, dollar figure terms of this contract. And it can be pretty simple. I could say we need to do demolition. I can connect it to my catalog, which can help with my QuickBooks sync, and I can say we're doing demolition for four thousand dollars. And that's as simple as creating a line item can possibly get. But, again, we have the option to get more detail in on these. So if I wanna say enter details or comments, demolition includes the following x, y, z, that could be displayed on the document as well. And then we also can use what we call the bill of materials as a way to build out this price based off of a list of what goes into that individual price. So I'm gonna have another item here. I'm gonna call it framing. And instead of just writing in a dollar figure, I'll also say enter breakdown or bill of materials. Framing will require studs of lumber and strand board, and we can even go down to the nails if we want to. I can put in quantities of everything. And the pricing comes in from my catalog. It can always be adjusted if I need to. The markup and final price comes in as well. And, again, if I need, I can always make adjustments here. I can also put in other categories, labor. I need a foreman on-site for forty hours. They generally cost me eighty dollars an hour, fifty percent markup. And I can click this button to now have the price be updated. So here's how much we're charging for framing. Something I'll get into more detail on in a moment, but I can also choose whether or not I wanna display this bill of materials to the client. So if this is just my information to help me get to this number, that is very okay. If I want to override this number, I'm not gonna charge them an extra sixty one dollars. I have that option as well. So we have the ability to make sure this displays the way we want it to as well. Another thing that ends up being handy is that I can use any of Nullify's service templates, which we do our own webinar on this, but it can prompt me for a quantity. We need to do fifty of these and fill out the description and the build materials for me just to speed up this process, and also end up getting a price involved. So this could this is the quick process of putting together a proposal. Right? A couple minutes of work, and now I actually have something that could be emailed directly to the client through Notify. Here's the default PDF that I have set to my account. But, obviously, by default, it has your company logo in here as well. And if you ever wanna make adjustments to this, you can reach out to our support team, and we can always change things like fonts, colors, location, include additional information, hide info. So if you want something that has a little bit more personal of a feel and you don't like this layout, definitely don't be shy about reaching out to our team. There's a lot of power that they can, put into these, to make sure that it comes out in your style. But, again, if I don't wanna display things like, let's just say, the bill of materials, I don't want my customer to start, picking apart the individual prices that go into each item. I can go to my different line items where it says this following breakdown will be displayed. I could say do not display, do not display. And now when we reload this document, you can see it simplifies this. It still shows the description, but it doesn't have a need for us to, have that breakdown any longer. Similarly, if I have the pricing, the subtotal pricing displayed, and I don't want that involved, at the bottom of this, I could say output style, highlight item subtotals. Again, I'll send out for signature just to preview the document. And now I still retain that nineteen thousand dollar final price of contract, but we no longer show the individual pricing for demolition, framing, can light installation, etcetera. You also have the ability to mark which items are taxable. This is just so the tax rate displays on the proposal itself, and then it will carry over that tax rate onto the invoices when you start invoicing. As always, our tax rates come over from our QuickBooks account. So rather than us creating them here, they will just check QuickBooks and give us the option. But if we're not seeing QuickBooks, then you can create those tax rates in your admin section so they can be referenced when you're invoicing. Then the last option here would be our terms and conditions, and you can save a set of terms and conditions in your company, in your admin section for your company defaults. And with all of this now being done, I can preview, and I have my document in the format that I want with my terms and conditions, signature line, everything, all set up. I'm gonna switch this to display line item subtotals. I like to have the detailed breakdown. And this is when I could theoretically send this out for signature and have the client sign it. I'm gonna go ahead and just manually switch this to active so we can start the process of invoicing now. Now once the job is live, all I have to do to start invoicing is hit this invoice now button, and I'm gonna start by using the standard invoice document. And, again, just so you could see the different options that are available, our default, what we call method one, is a percentage of each line item. So if I wanted to say eighty percent of demolition, fifty percent of framing, fifteen percent of can light installation. I can be that custom with it. But I also can come in and say, well, we actually don't need the percentages. I just know I have to invoice three thousand dollars of demolition. I know if I will stop you if you try to invoice over the scheduled amount. You can see you can invoice can invoice value cannot exceed the remaining value. So I could say we wanna invoice three thousand dollars of this and four thousand dollars of this. You can also default one to a hundred percent by hitting this arrow, which is always handy. It just will, invoice the remaining balance. Some other options that we have, I can invoice in a percentage of progress of the entire of the contract, entirety of the contract. So if I wanted to say fifty percent of the entire value, this way, it's just gonna take fifty percent of every line and combine them into a single invoice instead of me trying to break it down line by line. Similarly, I could do in dollar figures. I know it's a nineteen thousand dollar contract. I just wanna invoice ten thousand of that so far, and that can again do the calculation, take it out of each individual line item to make sure that we have the correct outstanding balance, on each line item and in the contract on, as a whole. The last option you'll see here is invoice per unit. When I created CanLight installation as a line item, I used a service template and, determined the quantity. This is where I have the ability of saying, instead of dollars or percentages, I could say, I wanna invoice twenty units out of the fifty that we quoted for this line item. I'm gonna circle back to the percentage option here and quickly just say fifty percent of demolition is all I'm invoicing, and take you through our additional display options. So this is where I could say whether or not I wanna include the line item description. So remember, I wrote in the demolition includes x y z. If I want that to be shown on the invoice document, I have that option. Similarly, with the bill of materials, that could be included as well. I can also say whether or not I want the customer to see the percentage of completion. So I'm actually gonna invoice this one too since it has a bill of materials. And then the last option here is if I don't wanna use this, percentage of the entire contract, I like the detailed breakdown, but I do want the same percentage on every line. I can say fifty percent apply, and this starts building an invoice for me with the description, with the bill of materials, everything that I need to share with my customer. And it's worth noting that the bill of materials, isn't invoice bull individually. It's just a description of what goes into the parent item above. All we're ever really invoicing is the entirety of the line item as opposed to the breakdown beneath it. And know if I remember is what is and isn't taxable on each line item from my contract, and it sets the tax rate for me. Now I can preview this invoice really quickly, and this invoice that we generated is in Noify standard import, format. So I can see what this looks like. I can have the line item description. I can have the percentage you complete. I can see how much we're charging, all of the quick detailed info on my invoice itself. And it's another document that can be edited by our support team. So if you wanna change the format, never be shy about reaching out to us for that. And you can include a bottom and header comment to, go along with the line items in the invoice as well. Once I finalize this, it's gonna be something that can be synced to QuickBooks, and it'll also, enable the ability to have someone pay us through with a credit card or ACH. I can put in their billing info, and send this out. What I wanna do before I get to that is actually delete this draft and recreate this invoice in the schedule values format. So let me go to my activity here, pull up my draft invoice, delete my draft. Now back in my contract and change orders, this is where I'll have the ability to change the invoicing format. In invoicing style, it's currently set to use a regular invoice. I could say use schedule values, and we'll go through a similar process. But now we're really gonna be limited to just invoicing in lines because if you're using the schedule values, there's not as much of a call to, invoice the entirety of the contract. We want a detailed breakdown for the customer. So I could say we're seventy five percent done with demolition. We're halfway done with framing. We're a quarter done with our can light installation. And just so we could see what this document looks like, I have my breakdown of the contract, which are columns a, b, and c, my item, and the scheduled value from the contract, how much was invoiced in the past, how much is being invoiced now, the total completed and invoiced to date, percentage invoice to date, and then the remaining balance to finish. So we can really be detailed in what we share with the customer that way. Then I'll go ahead and finalize this. I will send this to QuickBooks. I can email it to the client. I'll just go ahead and start by finalizing. And, again, when we email it to the client, we can include a link so that the, client can pay us through Intuit merchant services. And if you have questions about getting set up with that, you could definitely reach out to our team. I believe we can get some competitive rates set up for you with your, Intuit payments account. And you could see card and ACH payment enabled, and I can get the link here. And just so you could see what the customer sees, when you send this out to them, they'll be able to click this where it says, here's the balance of the contract and enter their credit card or bank account information so that they can pay you directly through this invoice in nullify. Now if I go back to that contract that I was working on, nullify will have updated the balance of each item. So demolition, seventy five percent invoiced, one thousand remaining. Framing, fifty percent invoice, five thousand remaining, etcetera. I won't spend too much time on change orders, but we can also set up change orders. So let's say I now have to go beyond our nineteen thousand dollar agreed upon value. This is where I can go to my active contracts, say, add change order, upgraded light selection for a thousand dollars. And this is also sendable for a digital esignature. But once the customer, signs and they wanna move forward, we'll go ahead and make this active. And now when I go to create my next progress invoice, know if I remember is the progress to date. So it knows that seventy five percent was completed. And here's a common misconception. If I wanna invoice the remaining balance and I've invoiced seventy five percent so far, I don't actually put in twenty five percent to invoice the next twenty five percent. I wanna say I've now gotten to one hundred percent, and that's how we invoice remaining balances. So it's less about individual invoices and more about progress to date at the time that I create this invoice. Then I could see that my change order also shows up on this invoice. I'll go ahead and invoice the entirety of that item as well, and I'll be able to see that updated on the invoice document that's generated. We can see the original scope of work and then the change orders, and then this is where I can start seeing that previously com, column populated or demolition. We agreed on four thousand. Before this, I had invoiced up to three thousand. Now I'm invoicing a thousand more. So the total completed to date, four thousand. That's a hundred percent of the line item. No more balance to finish. And then I can see that each individual line in the below and then the subtotal of the entirety of the contract so we can kinda see how that's adjusted as we go. I think that's just about everything that I wanted to cover as far as my demonstration goes. I did see that some questions came in, so I'm gonna jump to the q and a now and see what else I can answer for everyone. Is there a simpler way to bill for on a fixed price contract instead of listing a negative line without using AIA? So at this point in time, in the US, there's no way to bill retention or manage retention on a contract without using the AIA style invoice. But if you never have to use the AIA style and you do need retention, there's a chance that our team can customize invoice documents for you and figure something out. So it's worth, reaching out to the support team. But other than that, the best thing you can really do is invoice negative amount for retainage adjustments and then create a final line to invoice the entirety of it at the end of the job, the other outstanding remaining balance at the end of the job. This one is about taking credit cards, and I I think it's part of another question. How do we take it away? So there I think this question's about charging the additional fee for credit card payments on an invoice to the customer. When you send out an invoice, to use the, payments integration, you should have the, option to actually, pass that on to the customer. So if I am sending email or maybe when finalizing, but it should add the fee on based off of whether or not the, customer is opting into the online payment. So, that way, it can adjust the invoice for you based off of what is, opted into. It's hard for me to display since my account's not truly connected to QuickBooks payments. It's just a demo dummy account, but it should work for you where it adjusts based off of what the customer opts into. Can change orders be billed on separate invoices? Absolutely. There's no need to invoice change orders in line with everything else. You can always create an invoice that's specifically for a change order, and then nothing will stop you from doing it. There's a question of hiding percentage of completion on a schedule values invoice. It is possible. Our template team should be able to take care of that for you. I generally find that people who use schedule values invoicing are trying to convey percentage, so it might be something you wanna review with them. But if you want to just show dollars and hide the percentages, that shouldn't be outside the realm of possibilities. How do you handle bidding jobs that have both T and M and fixed lines on one proposal? So I believe our next topic that we cover, it's either AIA or cost plus. But, in the cost plus webinar, we go over how you can, on a cost plus job in Novi, include both fixed price lines and t and m lines on the proposal. I usually say if the job is ninety percent fixed price and just has maybe the potential for t and m, maybe as a change order or something like that. It's probably better to continue with that fixed price and just manually calculate the time materials and build that way. But if the job is majority time material and you have an occasional fixed price item, that's when it might make sense to look into the cost plus contract and then just create fixed price items in it, so that you don't have to worry about manually tracking the, time materials to invoice separately. How do I change the price of my contract if I've already invoiced, but now we're changing the price? It doesn't let me make changes. So that's a good question. I mean, the short answer is you use change orders. So if I look at this project that I've already started invoicing, we're gonna be stopped from switching this to draft because we've already started invoicing, and we wanna make sure that our, we wanna make sure that our, progress is consistent. So if I invoice a hundred percent of demolition and sent my customer something that says I'm a hundred percent finished, invoicing it, I don't wanna then adjust the value of it from four thousand to five thousand because then there's confusion of when that happened, you know, why we told them we were a hundred percent complete, if we're not a hundred percent complete. But I can add a change order to say a thousand dollars more added to demolition, and, invoice the additional amount that way. So that would probably be the best way to manage those cases. When we set a document for esignature and the customer signs it, we notice that the signature appears as plain text only. So this is basically the idea of when someone's asking about invoicing and or sorry, sending a proposal out for e signature and how that's signed. So when the customer signs, we do write in a digital version of the signature. We do just write on the document their signature. But when they're signing, it's also signing the terms that are built into our esignature where we're gonna be able to take the IP address, of the signer so that we can actually track, okay. It was on this computer. We know it was sent to this email. So, basically, we can confirm the email that received the request for esignature. We can confirm the location or the computer of the signer, and it holds up as an esignature beyond just what we write in as the digital signature. So even though, yes, they're not finger signing and scribbling themselves, it still holds up the same, legal power because we actually have all the information that goes along with the signing. How do you enable the sidebar on the left side of the screen? Good question. Reach out to our support team or to your account representative, and they could turn that on for you, on request. It's just a special feature that, anyone can get if they want it, but it's not, necessarily, automatically turned on in accounts. There's another question, how to invoice for a deposit. That's a good question. So I don't necessarily have the feature turned on in this account. I could see if you give me a quick moment, I'll see if I can turn this on for you. But, there's a couple schools of thought on this. One, mainly, you can set up this deposit feature that I'm gonna show you in a moment, which is essentially the ability to pretake payment that isn't part of the terms of the contract. So, something that's not, an invoice, but is actually a, payment outside of the contract itself. Excellent. Let me see if we actually allow users to do this themselves. Oh, perfect. So you actually could do this. So under proposal management, deposits, enable deposits, and contract jobs. So what does this look like? If I'm creating a new fixed price contract, doing everything just about the same, when that's enabled, I'll have an additional feature available in the job that says deposit amount, and I'm gonna say a thousand dollars. So what that does is when I create my contract for more than a thousand dollars and make this active, No. If I automatically generate a deposit invoice, so I have a place to put in the payment that is not part of demolition necessarily. So I can say activity. Here's my deposit invoice, and I could say they have paid me the deposit. This is our manual recording. Beautiful. Now I know if I remember is that there's a payment on this job beyond just the, invoiceable value. So even though I'm now invoicing a hundred percent of this, since there was a thousand dollar deposited, you could see there is a deposit for this job. Click here to apply it, the entire balance. And now it takes this five thousand dollar progress, and it knows to invoice four thousand dollars instead because we received a a deposit earlier. And it's just gonna change the balance of the contract. Sorry. My account always loads a little bit slower when I'm running webinars. I think just too much Internet power, but I move on to the next question here. So oh, here we go. Subtotal, five one four five. Deposit, a thousand. Invoice total, four one four five. There's a follow-up question of can we invoice deposits as a percentage of the contract instead of doing it as, a separate line or a separate, payment upfront? You absolutely can. What I would recommend for that is just entering a, what I would recommend is just entering an invoice with a percentage of completion that is the amount that you wanna invoice as the deposit using that, method that is invoicing the entirety of a contract line. So what I mean by that, let's say I require a fifty percent deposit upfront when starting a job. I would go to my invoice. And forgive my Internet again. And I choose this invoice number three, method number three. And I could say what the deposit I wanna accept upfront is, fifty percent deposit, and do that as my way of invoicing a percentage of, the contract as my payment upfront. And that was the last question that came in. I hope this session was helpful for everyone. If you have more questions, if there's anything else that we could do to be of assistance, never be shy about reaching out. We're always happy to help out. You can either reach out to our support team, to your account manager, if you have your, success manager's name, or if you have any feedback on our product, on our webinars, on anything that I could do better, never be shy about reach out to me and email me as well. I'm always happy to help. Thanks everyone again for joining in. I hope you have a great rest of your week, and happy holiday. Take care, everyone.
