Software to monitor milestone payments

[Tyre Tread]

Not sure this is in the right place to post this but can't see a more appropriate one -

I do some work for a small business who are looking at changing their business model from a deposit and end fee type business to a milestone based model which may incorporate up to fifteen staged payments based upon achievement.

We are trying to find some software that can cope with the recording, monitoring, reporting and billing of the milestones.

I've had a search around but can't find anything remotely suitable (although I may not be using the correct search terms).

If anyone can offer me some help by sterring me in the right direction I would be grateful.

[plasticpig]

This sort of functionality can usually be found in accounting software that supports project based accounting. I am pretty sure you will find a Sage add on to cover you requirements. If not then other accounting software such as AccountView support project based interim billing and or fixed installment billing.

[Tyre Tread]

Thanks Keir.

I was talking about the possibility of Sage a few mins ago but having never used it I wasn't sure whether it would be suitable.

[plasticpig]

I don't think Sage will do it out of the box but there are many add on modules by third parties. It's a pretty common requirement so I suspect someone will have developed a module to do it. It's probably possible to knock something up in Excel which will do what you want; but I don't recommend that route.

[SHutchinson]

Not sure if SageOne would do it, but if it does I can get you a discount (I think)

http://mbsy.co/3gcT7

[Tyre Tread]

Thanks for the offer Sam but doesn't look like it will.

I'll take a look at add on option to Sage 200 which looks like the best bet so far.

[plasticpig]

How small is the business? Sage 200 is quite an expensive product and I think you will find very little change out of £10k for a two user system including some setup costs and training. IIRC the base modules are £4K and the project accounting module is is £2K for a single user system. I must admit I was thing more Line 50 with a third party add on.

[Tyre Tread]

plasticpig said:

How small is the business? Sage 200 is quite an expensive product and I think you will find very little change out of £10k for a two user system including some setup costs and training. IIRC the base modules are £4K and the project accounting module is is £2K for a single user system. I must admit I was thing more Line 50 with a third party add on.

Ouch. He could afford it if he wanted to and the business will need a good package as, if he anticipates correctly, it will grow quickly in terms of turnover but remain small in terms of number of employees (probably sub 10)

ETA: He's paid out more than £10K to sellers of snake oil calling themselves consultants before today so he may not even blink at that.

[plasticpig]

For that size I think using a cloud based system might be a better bet. This solution looks like it would do the job very well. In particular:

http://www.worketc.com/ said:

Create billable items such as milestones, timesheets, and expenses within your project
Automate billing tasks and generate reports around activities, employees, timesheets and more

[Tyre Tread]

plasticpig said:

For that size I think using a cloud based system might be a better bet. This solution looks like it would do the job very well. In particular:

http://www.worketc.com/ said:

Create billable items such as milestones, timesheets, and expenses within your project
Automate billing tasks and generate reports around activities, employees, timesheets and more

Exactly what I was looking for. Thanks Keir.

My boss owes you a pint.