Using a Retainer Billing Model in Keka

With Keka's latest Retainer Billing Model, you can easily bill your clients a set amount at scheduled intervals, streamlining project invoicing and guaranteeing steady cash flow. Discover how to configure and handle retainer invoices efficiently.

Benefits

• Simplified billing: No need to track hours or milestones for invoicing.
• Improved cash flow: Consistent revenue generation through regular invoicing.
• Enhanced client satisfaction: Predictable billing cycles and clear invoicing.
• Time savings: Efficient setup and management of retainer projects.
  
  

Steps to Configure:

Go to the Projects tab and choose Project List under Projects section, then select Create Projects under Active Projects.

Create Project screen will appear. In Billing & Expenses section, choose the Retainer option. 

Select the specific project that is set up with the Retainer - Billing Type.

Once the Project screen will appear. Go to Billing and select the Billing Settings.

Update Billing Model Settings screen will appear. Fill in with details.

Verify the details in Billing - Summary section.

Good to know information 

Q: Can I switch between hourly and retainer billing for the same project?

A: Currently, you can only select one billing type (hourly or retainer) per project. However, you can create separate projects for different billing models if needed.

Q: How often can I set up retainer invoices?

A: You can set up retainer invoices at any regular interval that suits your business needs, such as weekly, bi-weekly, monthly, or quarterly.

Q: Can I adjust the retainer amount after the project starts?

A: Yes, you can modify the retainer amount by editing the project settings. However, changes will only affect future invoices.

To explore more about Payroll Automation and how it can enhance your business processes, please click here. Using the New Retainer Billing Model in PSA for Payroll Automation