PC Deposit Process

Project Cost - Billing - Deposits

  • Deposits can only be entered towards billable projects or tasks
  • Deposits should only be applied to a project or task that will have billing
  • Use PC Adjustments or Deposits to move a deposit amount to a billable task
  • When complete, select OK and the deposit transaction will be written to AR Cash Receipts
  • The deposit post is done in AR Post Cash Receipts function
  • Posted deposits will appear on the AR Aging
  • Deposits are applied through PC Billing

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Accounts Receivable – Transaction Journals – Post Cash Receipts

The deposit posted a credit to Customer Deposit Account (203000) found in the PC Business Rules and debit to Cash (100000)

The Post Cash Receipts function will write the deposit to the AR Aging and the Project/Task

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PC – Billing – Transfer Billings

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  • The deposit amount is applied to the billing amount for a project or task when doing Transfer Billings
  • If there is no billing amount for the project or task, you cannot apply the deposit
  • This example will bill $5,000.00 for the Fixed Fee amount, and apply $1,000.00 of the Deposit Available towards this invoice
  • Select Transfer to move this transaction to PC Billings where the invoice can be printed and posted

Transfer Billings

  • Check Consolidated Billing if you want to consolidate multiple projects for the same customer on one invoice
  • Check Hold if you want to put the billing on hold
  • Fiscal Period/Year is assigned based on Traverse date
  • Comments are optional
  • Click OK to process the transfer and move it to Billings

Transfer Billing Log will display

  • Transfer Billing Log will show the Billing amount and the Deposit Applied
  • Transfer Billing Log will show the selected Cost for the Project/Task that were transferred
  • Transfer Billing Log will show the selected Overhead Allocations for the Project/Task that were transferred

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PC - Billings – Edit Billings

Header Tab

Deposits Tab

  • This example shows the billing for $5,000.00 with a deposit of $1,000.00 making the Net Due $4,000.00
  • Line items can be deleted, but line items cannot be added
  • The line item Ext Price can be changed which will adjust the billing amount on the project
  • The Deposit line item can be deleted, but Deposit line items cannot be added
  • The Deposit amount can be changed, which will adjust the deposit amount on the project
  • The entire transaction can be deleted, which will remove all the billing information from the Project/Task
  • Can print an online invoice by selecting Print or use Print Invoices function on the PC Billing menu
  • Note deposit amount applied to invoice total

PC Invoice

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PC Billing Journal

PC Post Billing

  • The billing posted a debit to Accounts Receivable (110000) and credit to Revenue (402000)
  • The deposit posted a debit to Customer Deposit Account (203000) in the Business Rules and credit to Accounts Receivable (110000)

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