This chapter contains these topics:
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
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