Fixed-price projects and milestones

A fixed-price project separates contracted price from hours spent. Use it when the client pays for a result or milestone rather than every hour.

Prepare the project and milestones

Create a project with Fixed price billing, then check its currency and contracted price. An hour budget helps monitor effort; the project price defines the contracted amount. In Milestones, add a stage with a label, amount and scheduled date. Its currency comes from the project: the milestone form does not offer a separate currency selection.

Create several stages or use Schedule remaining price. The unscheduled balance shows the difference between the project price and milestone amounts. Check it before preparing an invoice. Use an eligible stage’s action menu to edit it; deletion asks for confirmation. Deleting a stage already selected in a draft invoice makes that draft incomplete, so review its contents afterwards.

Invoice milestones

Select eligible milestones when preparing an invoice. An issued document retains a snapshot of its terms. A milestone linked to an issued invoice cannot be edited or deleted; its hint directs you to void the invoice first. Externally invoiced milestones are also locked.

Hours and revenue

Continue recording actual time for workload and profitability. These hours do not generate revenue through an hourly rate, and scheduling milestones does not lock or allocate hours. Recognized revenue comes from issued or paid milestone snapshots on the invoice issue date; drafts and voids contribute nothing. Contracted price does not replace recognized revenue.

Ordinary fixed-price projects have no separate paid feature requirement. Financial management follows roles, while invoice eligibility is checked separately. Configure internal labor through cost rates.