A project sold at a fixed price can be set up instead as a fixed fee on a time and material project, rather than as a fixed-price project. If your project is a minor assignment, you might want to choose this method in order to use the invoicing procedure for time and material projects.
Enter hour, expense, and item transactions in the appropriate journals under > .
Enter the contract amount of the project as a fee in the journal under > > .
Invoice the fee using the procedure for invoicing time and material projects.
To use this method, all transactions must have a nonchargeable line property.