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Writing off time and expenses

Question

How do I write off time and expenses?

Answer

In order to relieve time and expenses from WIP, it is necessary to create a dummy final invoice and then select the WIP items you want to write-off.

To write off time and expenses

1. On the Process menu, click Billings/Invoices, and then click Billings from WIP.
2. In the Client Number box, type or select the client number for which you want to relieve WIP.
3. In the Invoice No. box, enter a dummy invoice number.
   It is recommended to use a unique numbering method for "write-off" invoices. For example, you could denote write-off invoices by precedes the invoice number with the letters "WO" for write-off. In this example, write-off invoice 1 would be numbered WO-01 and invoice 2 would be numbered WO-02. Avoid using the characters *, ? and " in the identification.
4. In the Type box, select Final.
5. In the Date box, select the date of the invoice.
6. In order to prevent posting to accounts receivable, the Amount must be $0.00.
7. Click the Edit Memo button to enter additional lines of information.
   Tip: You can set the font for memos.
8. In the Final bill option number box, select either Option 1 or 2 depending upon the nature of the write-off. The following explains the consequences of each option:
   • Selecting Option 1 allows you to select individual WIP items that you want to write off.
   • Selecting Option 2 automatically writes off all outstanding WIP for the client.
   • Selecting Option 3 automatically calculates an invoice amount based on selected WIP items. Since, the purpose of this invoice is NOT to bill the client, do not choose Option 3.
   • Selecting Option 4 allows you to select individual WIP items that you want to write off and set the amounts manually.
9. Based on the option chosen, select each WIP item you want to write-off in the Bill column. WIP items with a check mark in the Bill column () will be relieved from WIP

Notes

• Relieving items from WIP involves marking certain WIP items as billed. When viewing a WIP detail report, a B in the Billed column denotes WIP items that were marked billed. These items no longer appear on the WIP detail report when you move to the next period and are hence relieved from WIP.