Invoicing 6.8

Invoicing contract jobs can be quite different to invoicing normal jobs. This is because there may be a number of progress invoices for one contract job and the issues of retention can come into play.

The top grid on the Invoicing Tab will list all invoices already created for this job, while the second grid displays the manual invoice lines of the selected invoice, and the bottom field shows the selected invoice comments. The buttons on the left allow you manage the job's invoices:

Opens the Invoice Contract Jobs window that where you create both contract and retention invoices.

If you send out multiple progress invoices which are all alike, click this button to clone (copy) an existing progress invoice. Note: You cannot clone a retention invoice, or an invoice with manual entries.

Click to edit the selected invoice.

Click to print the selected invoice. The possible invoice templates to use are defined in Debtors Reports (Make sure the option is set to Contract Jobs).

Click to delete the selected invoice.

Opens the Cash Receipts window which allows you to view and make payments on invoices for this job.

Puts the current date and time in the jobs Completed field. You will be warned if there are stages on the job that have not been completed.

Invoicing on a Contract Job will allow you create as many invoices as you require to send to the contact. When you press the “Create an Invoice” button you will be presented with the Invoice Contract Jobs window that lets you create both contract and retention invoices.

The total value of the contract job to date. You can not invoice more than the Contract Job total value which is the total value of stages and approved variations.

The total amount that you have already billed the customer less all the retention credits.

The total amount currently retained from Contract Job invoices.

The total amount billed to date including retention. This indicates the total amount that is owed to you on behalf of all the invoices that you have sent out.

The amount of the total contract value that is yet to be invoiced. You can not create an invoice whose value is greater than the outstanding value.

The total price of the parts and labor against a stage.

The tax code applied to the invoices.

Enter the amount you want to charge on this particular invoice. Remember, the amount you are billing must be less than or equal to the outstanding value. The invoice amount will initially default to the total percentage of the contract job completed less any invoices to date.

The percentage of the invoice value that will be retained for later payment. Note The retained percentage will be adjusted down if you have set a maximum retention percentage and the total amount retained exceeds the contract value multiplied by the maximum retention percentage.

The number of days you will wait before the invoice value retained will itself be due for invoicing.

This is the dollar value of the amount that will be retained from the current invoice.

The invoice total less the retained amount.

The total tax calculated with the applied tax code.

This field allows you to set the cents rounding to +2 or -2.

Displays the current total of the invoice including tax.

Ticking the box will prevent the invoice from being posted to the accounting package.

The date assigned to the invoice (defaulting to today).

The date that payment is due based on payment terms assigned to the billing customer.

The date the invoice was first printed.

The rate that the tax will be calculated based on the tax code.

The total manually entered in the invoice amount with the tax amount added on.

The combined total of parts & labour with the tax amount added on.

It is often useful to break down an invoice total into a number of smaller amounts, each with their own value. This allows you to more clearly explain and justify the invoice total. This can be done in TSM by adding manual invoice line items. If the option “Apply Contract Invoices to Stages/ Variations” is enabled in Setup, a line entry will automatically be created for each stage on the job, with the amount to invoice set as “% Completed of the Quoted Price.” If the option is not enabled, click the “Add” button to manually create a new line item. You can add as many invoice details as you like, but they must collectively total to the invoice amount, since they are a break-down of the total invoice.

The total amount of the invoice.

The total amount of the invoice line items accumulated so far.

The unapplied amount of the invoice.

The main comment that you would like appearing on the invoice for this line item.

The total amount of this invoice line item.

Account number/name to assign to the part when linked to an accounting package.

Press this button to set the invoice line detail to the outstanding invoice amount (difference).

If you have the Contract Jobs option set to “Apply Contract Invoices to Stages / Variations”, the following additional options are available:

Select the Stage the invoice detail will be applied to.

Select the variation of the stage you have selected that the invoice detail will be applied to.

The quoted amount of the Stage / Variation.

The percentage that the selected stage or variation is completed.

The amount already invoiced against the selected stage or variation

This button allows you to select a percentage of the Stage Quoted total to apply to this invoice.

TSM has the ability to retain agreed amounts from Contract Job invoices for payment later. A customer may hold back a portion of the total invoice value until some time after the job is completed satisfactorily. Although the retained amounts resulted from invoices already produced, amounts that have been retained from contract invoices are settled separately via their own Retention Invoice.

On the Retention Tab, you will be presented with a list of all accumulated retention. You can tick the entries you want to pay in the selected column and can also adjust the amount you want to pay. For example, often you might retain 5% of the contract value until the contract is completed, then pay half the retention, keeping 2.5% of the contract value until 365 days later. You would then be able to invoice half the retention due by editing the Retained column amounts.

To select which retention entries to invoice, tick the “Selected” check box and optionally edit the retained amount. Press the “Create Invoice” button to create the retention due invoice.

How much retained invoice value could be invoiced based on retention due days.

The total amount of all outstanding retained invoice amounts regardless of whether it is due or not.

Select this to invoice only the retained invoice amounts which is due to be paid based on the retention days entered when you created the original invoice

Select to invoice all outstanding retained invoice amounts regardless of whether it is due or not.

Ticking this prevents the invoice from being posted to the accounting package.

The date that will appear on the invoice.

The date the invoice is due for payment based on the Billing Contact’s payment terms.

To include a comment on the retention invoice, type it in the Invoice Comment field. The comment created will automatically include a breakdown of all invoices and retention amounts.

The original retained amount.

The amount that is going to be retained on the invoice.