Using a Retainer Billing Model in Keka

Overview

The Retainer Billing Model in Keka PSA allows project managers to establish a predictable and streamlined invoicing cycle. Instead of tracking hours or task milestones, clients are billed a fixed amount at regular intervals. This model is ideal for long-term service contracts and promotes steady cash flow, increased efficiency, and enhanced client satisfaction.

Who can do this?

• PSA Admins
• Client managers
• Project Managers with billing configuration rights

Pre-requisites

1. Must be subscribed to the PSA proPlan or higher
2. Client must already be added to Keka PSA
3. Project should be set up with basic details like manager, timeline, and code

Step by Step instructions

Create a new project

1. Navigate to Projects >> Project List
2. Click on +Create Project under the Active Projects tab
   
   

Select Retainer billing option

In the Billing & Expenses section of the Create Project screen Select the Retainer billing model

Access the project and open billing settings

1. Go to the Project List and click on the newly created project
2. Navigate to the Billing tab
3. Click on Billing Settings
   
   

Update billing model settings

In the Update Billing Model Settings screen:

1. Specify details such as retainer amount, billing frequency (e.g., monthly), and invoice start date
2. Save the changes to apply the retainer model
   
   

Verify the billing summary

1. Go to the Billing >> Summary tab in the project
2. Review the retainer billing configuration for accuracy and ensure it reflects the intended terms

How it connects with other modules

FAQs

Q: Can I switch a project from Time-Based to Retainer Billing?
A: No, the billing model must be selected during project creation and can be changed as long as invoices or charges do not exist

Q: Does the Retainer model require tracking task hours?
A: No, it eliminates the need for hourly or milestone-based tracking for billing purposes.

Q: What happens if my PSA plan doesn't support Retainer Billing?
A: The ability to select retainer is available in base plan as well, invoicing will be accessible only for pro and higher plans

Q: Can I change the retainer settings after saving them?
A: Settings can be changes as long as no invoices or charges are generated.

Troubleshooting

Retainer option not visible during project creation?

• Check if your Keka account is on the PSA Advanced Plan or above.

Billing summary not updating?

• Recheck if billing settings were saved properly in the Billing Settings section.

Invoicing not generating correctly?

• Ensure a valid start date and amount are configured in the retainer setup.