Project deadlines

Under Deadlines you will find a list of all contract dates and payment dates of the project. This allows you to see which deadlines are burning and what steps you need to implement. At the same time, you will get a perfect overview of all planned project payments.

All contractual dates, invoice and payment deadlines, dates of expected invoices from subcontractors and due dates are automatically collected in Deadlines. The list of deadlines is created automatically from the project plan and does not require complex rewriting of information.

With an overview of deadlines, you will have a clear understanding of the company’s cash flow, ensure a smooth flow of information between departments within the company, and enable a seamless handover of the project to another manager.

Contents

What you can find in the Deadlines tab
Benefits of using Deadlines
Invoice deadlines
How Deadlines work

Under Deadlines in Navigo, we can find a list of all the dates and payment terms we have on the project. This list is largely generated automatically from the data entered on an ongoing basis during the creation of the project plan. Thanks to this list, you have an instant overview of which deadlines still have time, which ones need attention, and which are urgent. Among other things, the deadlines allow for a seamless handover of the project to the second manager and ensure a smooth flow of information with the accounting department.

What you can find in the Deadlines tab

• The date by which an invoice must be issued for the work done.
• The date on which you expect to receive payment based on the invoice issued.
• The date on which you expect an invoice from the subcontractor.
• Due date of invoices you receive from subcontractors
• Contractual dates specified in contracts with the client.

Benefits of using Deadlines

• You can see when it’s time to address billing and contract date obligations.
• You know exactly when to expect income and expenses on the project.
• You have an overview of the execution of all project-related payments.
• You get an aggregated view of the contract data.
• Facilitate the transfer of information between the project manager and the economic department.
• You can compare the plan and the reality, giving you control over the financial running of the project.
• They can help you keep an eye on your cash flow – remember to issue invoices and make sure the money has actually arrived.
• You know exactly when to expect an invoice from a subcontractor.
• Ease substitutability – the new project manager can immediately see where you can use what.

Invoice deadlines

On every project, there are several necessary deadlines with regard to invoicing, because we plan to invoice the work done or part of it, based on the invoice we have a deadline when the money should come to us. At the same time, we also receive invoices from subcontractors. So we have a date when we expect these invoices and also a due date when we have to pay the invoice. All these items are displayed in the Deadlines, and each one has a color indicator, making it easier to keep track of them.

Linking Deadlines to invoices

Thanks to Navigo Deadlines, the economic department receives information that an invoice needs to be issued. Deadlines therefore facilitate the transfer of information between the project manager and the accounting department. This avoids the problem of the accounting department not receiving reports on, for example, the completion of a part of a project that needs to be invoiced.

Future earnings in Terms and their benefits

Accounting systems usually provide information about reality, they don’t allow us to keep track of when what income and expenses are planned. By having projected income and expenses in the Term Sheet, we get a more realistic view of the company’s actual cash flow.

Projected revenue, or future revenue, is the revenue we plan to earn on the project. If we have a simple project, we just need to produce a planned income and link it to other commitments – for example, to a contract date or via a time reference. Planned income can be linked to cash flow.

For large projects, the problem is usually more complex. These projects usually have a large planned budget and invoicing is done in batches. Billing dates are usually linked to contract dates or internal milestones. An example of this is projects scheduled according to the stages of the project documentation, where, for example, invoicing is done after the preparation of the study, and then after further stages. This allows you to keep track of when to issue an invoice. The project can be divided into billing parts.

How Dates Work

At the beginning of the project planning, the planned intake is set on the thermometer. This is automatically reflected in the Dates item and also in the cashflow. If a regular milestone or contract date is created, it also automatically appears in the deadlines.