Fixed price billing is used when a project has one agreed-upon price or contract amount, rather than billing only based on actual time and expenses.
In Project Insight, the highest-level way to track fixed price billing is to use the Target Budget tab to enter one fixed cost target and one fixed billable amount for the project.

After those high-level project numbers are entered, you can use Project Reports and Budget Reports to monitor project profitability.
How Does Fixed Price Billing Work With Target Budget?
The Target Budget tab can track a fixed project-level cost target and a fixed project-level billable value.
This is useful when you want to compare the overall project budget and contract value against the work being planned and completed. The project manager can keep the project schedule focused on the actual work packages, assignments, and resource responsibilities, while budget reports compare the fixed target values against project performance.
When Should You Use Proposals Instead?
A fixed project price can be simple at the project level, but billing schedules often need more detail. For example, the customer may be billed by milestone, phase, deliverable, or payment event.
It can be difficult to force those billing milestones into the project schedule, because the project schedule should represent the work that needs to be completed. Billing milestones do not always match the same structure as the work plan.
For milestone-based billing or deliverable-based billing, use the Proposal add-on. Proposals are built with billing milestones and deliverable breakdowns in mind as billing line items.
You can report on which proposal line items have been invoiced and when. This allows the project plan to stay focused on work packages and resource responsibilities, while proposal and billing records support the billing side of the workflow.
The Proposal add-on can be found in the Get Apps Add Ons section of Administration.
When Should You Use Target Budget vs. Proposals?
| If you need to... | Use... |
|---|---|
| Track one fixed cost target and one fixed billable value for the whole project | Target Budget |
| Monitor profitability against a fixed project amount | Project Reports and Budget Reports |
| Bill by milestone, phase, deliverable, or payment event | Proposals |
| Report on which billing line items have been invoiced | Proposals and Invoice Records |
| Keep the project schedule focused on work packages and resources | Use the project plan for execution and proposals for billing detail |
Common Questions
Can Project Insight Track Fixed Price Billing?
Yes. Project Insight can track fixed price billing at the project level using the Target Budget tab. This allows teams to enter one fixed cost target and one fixed billable value for the project.
Should Billing Milestones Be Added As Tasks?
Not always. The project schedule should usually reflect the work that needs to be completed. If billing milestones do not match the work plan, it may be better to use proposals for billing milestones and deliverable breakdowns.
How Do Proposals Help With Fixed Price Billing?
Proposals can define billing line items, milestones, deliverables, and invoicing status. This helps teams track what has been invoiced without forcing billing structure into the project schedule.
In Short
Use Target Budget when you need to track one fixed project-level cost target and one fixed billable value. Use Proposals when fixed price billing needs more detail, such as milestones, phases, deliverables, or billing line items.
This keeps the project plan focused on execution while still giving finance, project managers, and leadership visibility into fixed price billing and profitability.
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