Milestone Billing Post to Sales

Yahoo Archive
1
We are in version 8.03.409c. To clear advance billing we ship the job and when we create the invoice against it, it pulls in the advance billing and clears the account to reduce the money owed but then debits sales.

Thank you
Pam Simantz
AJR Industries, Inc.

Phone: (847) 439-0380
Fax: (847) 439-0230

E-mail: ajrpam@...

[Non-text portions of this message have been removed]
2
When using project billing a milestone billing comes out as an advanced billing which hits our differed revenue account. This is good since we want to get the bill out, but we may not know our complete costs yet. Once we know our costs revenue recognition seems to work well to capture the project costs to cost of goods Sold, but I can't figure out how to convert the advanced billing into a sale. Any thoughts on converting the advanced billing to a sale under a milestone billing? We are running 9.05.700B2.
Thanks
Carson
3
Looks like I've answered my own question. Just create a MISC invoice for the desired sales amount.



--- In vantage@yahoogroups.com, "carson251" <carsonepicor@...> wrote:
>
> When using project billing a milestone billing comes out as an advanced billing which hits our differed revenue account. This is good since we want to get the bill out, but we may not know our complete costs yet. Once we know our costs revenue recognition seems to work well to capture the project costs to cost of goods Sold, but I can't figure out how to convert the advanced billing into a sale. Any thoughts on converting the advanced billing to a sale under a milestone billing? We are running 9.05.700B2.
> Thanks
> Carson
>