On Solace, we currently offer three types of contract options. Hourly, Bring Your Own Contract, or Retainer. Below is some info on all three formats, as well as a helpful video on how to create contracts and get them sent to your client.
Hourly or Bring Your Own Contract:
If you are choosing to bring your own contract, you'll be able to upload your contract using our form when creating a contract for a client. Your client will sign that they agree to the terms shown in that contract to complete the contract process.
If you send an hourly contract, you'll need to fill in some info before we send the client over for their acceptance.
With either format, after your client has signed their contract with you, you have the ability to invoice them right away.
When invoicing, you'll have the option to mix and match the expense types between “Hourly Work,” “Manual Expense,” and "Work Expense."
Retainer:
If you use a retainer contract, the amount of that retainer will be charged in full when your client signs their contract. You will see that amount deposited into your linked account within 3 to 5 business days. To bill against the retainer, you will need to invoice for your billable time as you see fit. When you invoice against the retainer, we'll show the remaining balance at the top of your copy of their contract with you, which you can view in the “Contracts” tab on your navigation bar. When you send an invoice against the retainer, we'll email your client the invoice for their records. That email will also let them know the remaining balance on their retainer. During invoicing, you'll have the option to mix and match the expense types between “Hourly Work,” “Manual Expense,” and "Work Expense."
Once the retainer has been depleted, you will be able to refill the retainer or bill any additional hours using line-item invoicing.
If you end services with your client before the retainer balance is depleted, you will have the option to end the contract and refund the remaining balance to your client's payment card. To issue that refund, select the “Contracts” tab on your navigation bar, select the relevant contract, and then scroll to the bottom of the contract to view the options available.
Click the photo below to be taken to a video tutorial that walks you through creating a contract step by step:
Still have questions? We're happy to help! Feel free to reach out via the "Contact Us" info below.
Comments
Article is closed for comments.