A Billing Period defines the billing cycle used by a project's team and progress claim contacts on Procore's progress claims and progress billings. In addition to defining the frequency of the billing cycle (for example, monthly or weekly), a billing period also defines the billing cycle's start/end date and the due date for the progress claim or progress billing.
Common billing periods include:
Examples of common monthly billing periods are below:
- Starts on the 1st day of a month and ends on the 30th of the same month.
- Starts on the 15th of one month and ends on the 14th of the following month.
Examples of common weekly billing periods are below:
- Starts on Sunday of this week and ends on Saturday of this week.
You have two options to create a billing period in Procore project's Invoicing and Progress Billings tools:
- Automatic Billing Periods. Choose this option when your billing periods have a consistent start, end and due date. For example, weekly or monthly. For instructions, see Create Automatic Billing Periods in the Invoicing Tool or Create Automatic Billing Periods in the Progress Billings Tool.
- Manual Billing Periods. Choose this option when you need to create billing periods for your progress claims and your billing periods are not on a consistent program. For instructions, see Create Manual Billing Periods in the Invoicing Tool or Create Manual Billing Periods in the Progress Billings Tool.
- If your Procore user account has been granted 'Admin' level permissions to the project's Commitments tool, you have sufficient permission to create automatic or manual billing periods in both the Invoicing and Progress Billings tools.
- The Progress Billings tool is available to Procore customers in the United States who have implemented the Procore for Speciality Contractors point-of-view dictionary. To learn more see, What dictionaries and languages are available in the Procore web application?
- To Compile Progress Claim Backups or to Compile Progress Billing Backups, the billing periods for the selected progress claim(s) or progress billing(s) must exist. Procore recommends that you do NOT delete billing periods after creating progress claims or progress billings for those periods.