Job Management  Job Invoicing  Hold Back Invoicing Overview

Hold Back Invoicing Overview (continued)

Below are the G/L transactions performed by the Job Invoicing and Job Closing processes.

Job Invoice - 3 Journal Entries are created

Job Invoice 1) 

Debit:   Accounts Receivable for the Total Invoice Amount

Credit:  Sales Tax (if any)

Credit:  Income Account(s) associated with the Invoice Item Codes used on the Invoice

Job Hold Back Credit 2)

Debit:   Hold Back account from the Job Type setup (asset account)

Credit:  Unapplied Credits

Job Hold Back Credit 3)

Debit:   Unapplied Credits

Credit:  Accounts Receivable

Job Closing Hold Back Invoice

Debit:   Accounts Receivable

Credit:  Hold Back account from the Job Type Hold Back Item Code (asset account)

 

Follow the topic link below for step by step instructions on creating Hold Back Invoices and Creating the Invoice for amounts held back during the Job Closing process.

Hold Back Job Invoicing

 

 

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