Navigate to the Project management and accounting Module from the address bar by clicking the navigation path arrows.
EXECUTIONS (Work Orders) - If the work is completed the status of the execution specific line can be changed to “Complete”. If all the feedback is done and completed on this execution order, the execution order’s status can be changed to “Financial Complete”. The system will automatically run the financial transactions to create the journals for the invoicing process. The posted journals will be in Projects (if project integration is ON) or in Sales Orders. Select under Execution Register or Contract Register “Enquiries” button “Financial transactions” and the user will find the posted journals. The accounting department can now make the decision to generate the “Invoice” for the customer.
CONTRACTS - Before the billings are run, any feedback needs to be done, before the contract posting process has to be done for the billing periods. If the contract posting is completed for the billing period, the Invoices has to be generated from the project invoicing. The system will automatically run the financial transactions to create the journals for the invoicing process. The posted journals will be in Projects (if project integration is ON) or in Sales Orders. Select under Execution Register or Contract Register “Enquiries” button “Financial transactions” and the user will find the posted journals. The posted journals will be in the customer project. The accounting department can now make the decision to generate the Invoice for the customer. The following is the process for generating an invoice in Projects.
How to do contract postings
1. The following is an example for running the contract posting process.
- Select the Start and End date for the billing period.
- When the posting is run for a customer, select the customer name. If only customer name is selected, the postings will be done for all the contracts within the billing period for the selected customer. (Customer can consist of more than one contract.)
- By selecting the Customer contract field, all contract specifics within the selected customer contract for the billing period will be posted. (Customer contract can consist of more than one contract specific.)
- Select the contract specific number when the posting is done for a specific contract.
- If any of the contract lines have the In Advance indicator on, then the indicator should be selected on the postings, to post only the In advance lines for the selected period.
- Once the selected criteria for posting are completed, press OK to run the posting process.
8. When posting is completed, a contract posting journal will be created.
9. In the Contract planning > Enquiries > Financial transactions the journal transactions should be visible.
10. On the contract line the next journal dates will be updated, once off billing will clear the next journal date, cycle billing will update the next journal date to next cycling date. Last journal date will be updated with previous next journal date.
How to Generating Projects Invoice
1. The following is an example for running the Invoice process. Search for the project ID linked to this contract (Project contract ID).
2. Click on the Invoice proposal button and the create invoice proposal form will open with the contract billing line, click on the OK button to create the proposal invoice.
3. When the invoice proposal is created, click on the POST button to post the transactions.
4. The Post Invoice Proposal form will open. Select the posting journal (invoice proposal) and click OK.
6. The Invoice journals form will open with all the posted invoice journals. Click on the VIEW button to view the invoice.
7. This will result in the original invoice to be viewed, review and check purposes.
8. Print the Invoices after preview. Click the Close button.