3 Workfile Management

This chapter contains these topics:

3.1 Objectives

  • To understand the origination of costs

  • To understand the Billing Workfile

  • To apply markups to costs

  • To create, print, and void invoices

  • To create and record accounting journal entries

3.2 About the Billing Process

Effective management of the Billing Workfile (F4812) is fundamental to the Service Billing processes. The typical billing process includes accumulating costs, creating and printing invoices, and recording journal entries for income and receivables.

When you perform the Service Billing processes, you can:

  • Accumulate billable costs from multiple systems, such as Accounts Payable, Equipment/Plant Management, and Payroll, without re-entering the cost information into the billing system

  • Calculate markup amounts and taxes based on a hierarchy of multiple user defined rules

  • Revise workfile transactions

  • Recognize revenue before generating customer invoices or at the same time the customer invoices are processed

  • Print invoices to customer specifications

  • Automatically create and record the journal entries for the Accounts Receivable and General Accounting systems that result from billing

Workfile Management consists of the following topics:

  • Understanding workfile information

  • Generating the workfile

  • Reviewing the workfile

  • Revising the workfile

  • Working with the workfile history