The Settings Tab contains the default general ledger account fields for the interface between the Job Cost and the Ledger module. This default information must be entered before contract billings may be posted through the Job Cost system. Additional fields on this screen control the printing of the contract billings. The control field for the next available invoice number, which is used for both contract billings as well as miscellaneous invoices, is located in the Receivables > Properties option.
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Account Numbers |
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Billing Printing Controls |
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Other Options |
This section of the screen represents the default general ledger accounts that will be used to process a Contract Billing through the Job Cost system. Be sure to check with your company's accountant if you are not sure which account numbers should be assigned to each field.
| A/R - Current - The net amount (gross billing amount less the retention) of the Contract Billing will be posted to this account. |
| A/R - Retention - The retention withheld from a Contract Billing will be posted to this account. When you invoice your customer for the Retention, the retention amount will be reversed from this account and posted to the A/R - Current account. |
| Construction Income - This field represents the default revenue account that will be used when setting up a Contract Billing item (Schedule of Values). If you have multiple income accounts (based on the type of job or work performed), then you may manually change the income account on each individual billing item. When a contract billing is generated, the system will post the gross billing amount to the specified revenue account on the billing item. |
This section contains fields for controlling the printing of the contract billings. In addition to selecting a default printer for the contract billings, the top margins can be adjusted to accommodate printing on company letterhead.
❑ If you will be printing the billings on company letterhead, then you may wish to disable the Include Company Name and Address on Billings option.
❑Automatic Calculation of Cost to Complete for Contract Status Amounts
•Check this box to allow AB to automatically calculate the cost to complete definition: Total Estimated Costs (budget) minus Total Cost to Date on each job when a contract status report is printed.
•If this box is unchecked, then you may manually enter the Cost to Complete amount on each job.
oThe Cost to Complete field is located on the Update Jobs > Contract Status Tab.
oAny amount entered manually in the Cost to Complete field will be ignored if the Auto Cost to Complete option is checked.
❑Disable Audit Trail for Estimate Import and Job Template Postings
•This option will allow the audit trail tracking for the ESTDETL table to be turned off when importing job estimates and processing job templates. When the audit trail is turned off, the posting process is much faster but you will not have a record of the newly posted detail items in the audit trail.
❑Allow Completed Unit Overruns on Contract Billings
•If you use the 'Unit Billing' format, then this feature will allow line items to be billed for more quantities than those listed on the line item. This will allow projects to be billed more in line with state and federal projects where the scheduled units can end up over billed or under billed at the end of the project and simply adjusted at the end on the final billing.
•Important Note: For Work in Progress (WIP) reporting, you will need to adjust your contract amounts for overbillings in order to avoid accelerating the percentage of completion on the project.
❑Disable Business Rules that Check for Prior Billings on Contract Item Changes
•If this boxed is checked, then the system will allow you to edit a Contract Billing item even if the item has been billed.