Table of Contents
1. Introduction
With Cone, you can create detailed, customizable, and client-specific services that enhance the value and professionalism of your proposals. Cone's dynamic service management tools ensure that every aspect of your service offerings is accurately reflected and easily managed, streamlining the proposal process and improving client engagement
2. Service Details
Beyond establishing the financial parameters of a service, delineating its scope and terms is crucial for setting clear expectations between you and your clients. Cone facilitates this through several descriptive fields:
2.a Description
Here, you articulate what the service entails, its benefits, and why it's valuable to the client. A well-crafted description not only informs but also persuades, making it an essential component of your proposals
2.b Terms
This section allows you to outline the specific terms and conditions related to the service. These details will be appended to engagement letters or contracts, providing a legally binding explanation of what the client can expect and what is expected of them. It’s crucial to be precise and thorough in this section to avoid misunderstandings and establish a solid contractual foundation
2.c Invoice line item description
When it comes to invoicing, clarity is key. This description specifies how the service will be listed as a line item on invoices. It should be concise yet descriptive enough for clients to easily recognize the service they are being billed for. This reduces queries and streamlines the payment process
2.d Default account
If you have connected Cone with an accounting integration, then you can also specify default invoicing account for this service
When no invoicing account is selected, it will use the default account specified at the accounting integration level
💡 Service terms, invoice line item description and default account options can be found when you expand More options under service description field
3. Pricing options
3.a Pricing models
Cone offers diverse pricing models to cater to the varied nature of services businesses provide. When creating a service, select the model that aligns with its nature, ensuring transparency and fairness in billing
Fixed pricing is ideal for services with a straightforward, unchanging rate regardless of the scope or duration. This model provides simplicity and predictability for both you and your clients
Per-unit pricing suits services priced based on the quantity or volume of work, offering flexibility to accommodate different client needs and project scopes
💡 Currently, Cone supports following per unit entities: hour, transaction, entity, individual, item
Variant pricing offers a dynamic pricing model that allows for different pricing tiers or variations based on specific criteria set by the service provider. This model is particularly useful for services that can be customized or adjusted based on client preferences, project complexity, or additional features. Variant pricing enables:
Customizable service levels: Offer your services at different levels or bundles, each with its own price point, to cater to a broader range of client needs and budgets
Feature-based pricing: Adjust service prices based on the inclusion of additional features, options, or customizations that add value to the client
Complexity or scope adjustments: Set pricing variations based on the project's complexity or scope, allowing you to accurately charge for the effort and resources required
Commission-based pricing aligns with services where the fees are a percentage of the total value derived from the service. This model is often used in sales-related services or where the service outcome has a direct monetary value
ℹ️ Currently, only percentages are supported in commission based pricing
3.b Pricing factors
To accommodate client-specific or project-specific nuances, use pricing factors such as the client's quality of books, projected annual revenue, or number of employees for services like payroll management
Cone allows you to set these factors, automatically adjusting the service price to match the specified criteria, ensuring tailored pricing for each client
You can learn more about pricing factors here
4. Billing preferences
Cone provides flexibility in how services are billed. Selecting the appropriate billing type directly within the service setup process ensures that the billing strategy aligns with the service nature and client expectations
4.a Billing types
One-time billing for services provided on a singular occasion
Recurring billing for ongoing services, with options for setting a finite duration or allowing the service to recur indefinitely
When you choose Custom , you can specify custom recurring frequency
Milestone billing aligns payments with the completion of significant phases or benchmarks in a service's delivery
ℹ️ Currently, only 2 milestones are supported with Cone. Amounts for these can only be as percentages of the total value. Percentages have to be manually adjusted to total 100%
💡First milestone is billed immediately once proposal is signed
❗Milestones are only available for services with fixed and variant-based pricing methods
4.b Bill on dates
ℹ️ Bill on dates options can be found by expanding section under Billing type options
Establishing when the billing for a service should occur is crucial for ensuring timely payments and aligning with client agreements. Cone offers various triggers for initiating billing:
When proposal is accepted: Triggers billing once the proposal containing the service is accepted by the client
On contract start date: Initiates billing at the beginning of the contractual agreement, ensuring that payment processes align with the formal start of service delivery. This option is particularly useful for services that begin delivering value immediately upon contract commencement
On Contract end date: Sets billing to occur at the conclusion of the contractual period, typically used when the full scope of a service is completed
ℹ️ Billing starting on contract date is supported only for one-time services
Custom date: Allows the selection of specific billing dates, catering to unique billing arrangements or schedules agreed upon with the client
ℹ️ Billing on custom date can only be accessed when adding services to a proposal
5. Auto-invoicing
Cone's auto-invoicing feature streamlines the payment process by generating invoices based on the billing preferences set for each service. You can enable auto-invoicing by switching on Enable auto invoicing toggle
ℹ️ Auto-invoicing is disabled by default for a service. You will have to explicitly enable it
ℹ️ Auto-invoicing is not supported for commission based pricing
ℹ️ For a milestone based service, when auto-invoicing is enabled, it will be applicable only for the first milestone. Second milestone will have to be manually billed even when auto-invoicing is enabled
You can learn more about service auto-invoicing here
6. Service categories
You can organize services for simpler navigation through the use of service categories. Such categorization allows for a more structured and visually intuitive presentation of your offerings, facilitating ease of access and understanding for both you and your clients
You can learn more about service categories here
7. Service templates
Cone's service templates serve as a foundation for quickly adding services in your account. To use service templates:
Access the templates from services under
Cone templatesBrowse through the available templates, covering a wide range of standard industry services
Select and clone a template to your service list, where it becomes fully customizable. Tailor the service details, including pricing, billing preferences, and associated categories, to fit your specific business model