RA Bill or Running Account Bill is a recurring type of invoice. It basically happens in construction or contracting services. The whole idea of this type of invoicing mechanism is to ensure that the invoices are raised on a periodic basis. This usually happens as per the agreed frequency or trigger points. This kind of invoicing happens for project based businesses mostly.
This excel template helps you raise RA Bill or Running Invoices for your business. It comes with fields like:
- Name of your company, address and other information
- Invoice Date and number
- Name of project, agreement number, and cost incurred summary
- Name of Project Manager
- Client information, name and address
- Cost elements like direct labor, material, equipment, consultants etc.
- Current cost against the cost elements
- Cumulative cost to date for each cost element
- Total amount due and payable
The cost element in the invoice template should be kept consistent wit the contract budget for better analysis. Furthermore, along with RA Bill, you can also share invoice wise project cost summary to your client for the verification and reconciliation of Cumulative figures.