Project Billing

Project billing in project accounting is the process of invoicing clients for work completed on a specific project. It involves tracking all costs associated with a project, such as labor, materials, and overhead. Once the project reaches certain milestones or upon completion, the company prepares and sends invoices to the client based on the agreed payment terms. This ensures that all expenses are accounted for and that the business receives payment accurately and on time. Effective project billing is crucial for maintaining cash flow and keeping the project financially viable.