As your project progresses, you may want to start sending invoices to your customer for the work carried out so far. Alternatively, you may prefer to wait until the project is complete and then bill your customer for the total amount on a single invoice.
Project Costing does not automatically bill your customers for projects. However, the Analysis tab of the Project Record displays information that helps you to calculate how much you should bill your customer. You can also use Project Costing’s reports to assist you.
When you know how much you need to bill, you can create one of the following to send to your customer:
If you need to credit your customer, you can also raise a service credit note, or a product credit note containing a non-stock or service item, or the special product code S3 for Accounts Professional users that you can allocate to the project.
When you post the invoice or credit note to your ledgers, Sage 50 Accounts updates the project’s activity and Analysis tab. Billing transactions display on the project’s activity as SI or SC transaction types.
Note for Accounts Professional users: If you create project records directly from Sales Order Processing from an order containing the special product code S3, your software enters the project’s reference into the S3 item line, and transfers it to the invoice when you complete the order.
This means that when you update the invoice to the ledgers, the SI transaction links to the project automatically. This is particularly useful where you need to invoice your customer exactly the amount of the initial order.
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