About Slips
Along with projects, slips form the basis of the Billings workflow. Generally, a slip corresponds to a task, or a small series of tasks, which eventually become line items on an estimate or invoice. A slip may also correspond to a distance driven, an expense, or a product. You can create slips as you need them, and save frequently reused slips as blueprints.
Slips can either be estimate slips or working slips, depending on the stage a project is at. Estimate slips represent guesses of how long something will take or how much it will cost, while working slips are used to track actual time and cost. Estimates are generated from estimate slips, and invoices are generated from working slips. You can create an estimate from several estimate slips, and once you have the client's approval, convert them into working slips.
There are five different kinds of slips:
- Timed slips track the time spent on a task, and use an hourly rate to calculate the total amount due.
- Fixed slips track the time spent on a task, but allow you to charge a flat rate to your client.
- Quantity slips use the number and price of an item, such as a product, to calculate a total cost.
- Expense slips are a way of specifically tracking any miscellaneous expenses associated with a project.
- Mileage slips record a distance travelled and rate per mile or kilometer to calculate a total cost.