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Exported invoice report double-counts retainer invoices
When I run an invoice report and then export the report to Excel, I’ve found that Harvest double-counts retainer invoices. So for example, let’s say I send an invoice to a client to boost their retainer balance by $10k. Then next month I create an invoice to draw from that retainer, say $9k. In the exported report the total invoices for that client would show $19k, whereas I’ve really only invoiced them $10k.
Strangely, the report within Harvest identifies the retainers, so they’re easy to spot. It’s only in the exported version of the report that the retainer invoices aren’t identified. The only solution I’ve found is to export the report, add columns in Excel, and then manually enter the retainer draws in one column, and re-calculate the “actual invoice balance” in another.
Am I high? Or, is there a better way to report invoices that considers retainer draws?
We just started using Retainers for our SLA/support contracts with clients and are seeing the same thing. When we look at the invoices for a particular client, things are double-counted (the, say, $5k retainer invoice AND the (5 x $1k) invoices to draw from it. makes it look like we billed this client for $10k).
Thanks for bringing this to our attention! I’ll pass this on to our development team. Thanks for the feedback!
*bold*Sent this message to Support (September 2011) bold:
bq. (quotes)I love the retainer feature but it seems I’m not utilizing them correctly.
I normally send an estimate, convert it to an invoice, generate an retainer invoice for 35%, once that retainer invoice is paid, I make a payment entry on the actual invoice, send another 35% retainer invoice, enter another payment to the actual invoice and repeat the process with the final 30% payment upon completion.
The problem is that now I have all these retainers with undrawn funds.
I recently synced my account to Outright and realize that it looks like I have more money coming in than coming out. How do I eliminate all these retainers that have already been applied to real invoices?
Thanks in advance.bq. (quotes)
*bold*Harvest Support response bold:(quotes)Thanks for getting in touch! If you’re going to use retainers, then it’s best not to use the Create Invoice button on an estimate. (Yes, there is a current feature request for a Create Retainer button…)
An improved workflow would be:
- Create the estimate and send it to the client;
- Once the estimate is approved, create a retainer invoice for the amount of retainer that you would like to bill for;
- The client pays the retainer invoice and you can start work;
- When it’s time for your first billing, you’ll have the option to Draw Funds From Retainer, which will draw down the retainer by the amount of the first invoice.
- Continue the process until the retainer is exhausted and the project is complete.
I hope that helps! Please let me know if you have any other questions.bq.
Cheers,
Scott(quotes)
I’d edit my comment’s markup but not sure if I can. Looks like it’s eternally look like I don’t know what I’m doing. Yikes.