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There are two methods of creating billings; the first prepare billing is a manual method where the bills are created one at a time. The second method is prepare mass billing which creates the bills for all contracts according to requested parameters. Once created, editing can then be done where required.
1. Add new Billing Items
If new cost code/category combinations have been added to the job manually (not via a change order) after the billing was created but not posted, then these billing items will need to be added to the contract. Use the [Add New Bill Items] button on the Create Contract screen to bring in these new items.
2. Prepare the Billing
The Prepare Billing screen is where you enter the billing amounts, percent complete, change the system generated billing amounts or release milestones. Every billing is denoted by a draw and revision number and a detailed history of the draw on each contract billing item is kept within the system.
3. Print Edit Listing and Revise Billing where Necessary
Once you have entered the details of the contract draw or revision you should print the edit list to verify your entries. If changes need to be made use the Prepare Billing screen.
4. Generate Invoices
Once the billing numbers have been calculated, the invoice must be generated. This function builds the invoice detail according to your invoice format rules.
5. Print Invoices
Once generated the invoices are ready to print. There are two different types of invoices to print AIA style invoices and free form style invoices – either may be printed more than once and therefore can be substituted as an edit list if required.
If after printing an invoice you find the numbers are incorrect, return back to step one to make the adjustments.
6. Edit and Reprint Invoices
Editing an invoice will not change the dollar value of an invoice, but it does allow you to add your own comments or change the text that is printed.
7. Approve Invoices
If approval is required, invoices must first be posted. Only invoices that have been printed will be available for approval.
The approve invoices process also allows you to retract the approval of an invoice, to return it to an editable state within the Prepare Billing screen.
8. Post Invoices
Posting is the final step, once posted the billing cannot be altered. Posting will update Accounts Receivable with invoices posted against customer accounts; Job Costing with the billing amounts against the specified cost elements; General Ledger with the affected account information and of course the contract is updated with the billing information.