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A general adjustment is a flexible way of posting WIP and expenses to a clients account. It is often used the adjust client account balances and to transfer WIP from one client to another.
Click here for scenarios for general adjustments.
To post a General Adjustment:
Enter the Time Ledger.
Click Post WIP.
Click General Adjustments.
Enter the period that the expense is to be posted into (defaulted to current period).
The Post General Adjustment to period screen is displayed.
To post a general adjustment the following fields can be entered:
Posting Type
The posting type determines whether the expense posting is either a debit or a credit.
A debit posting will increase the WIP costs to the client account. For example, posting an adjustment for £300 as a debit will place £300 of WIP onto the client account.
Similarly, a credit posting decreases the WIP cost to the client account. For example, if a client account had a WIP value of £300 on their account and a credit of £300 was posted, the clients final balance will be nil.
Amount (WIP)
Enter the value of WIP that needs to be credited or debited from the client account For example, to remove £500 of WIP from a client account ensure that the posting type is credit then enter 500 into the field provided.
Time (WIP)
In addition to posting the Amount of WIP the amount of time can be entered. Enter the amount of time that needs to be credited or debited from the client account. For example, to add 3 hours of time enter 3 in the field provided.
Time entered into this field is not used to calculate WIP but is used to record that time has been posted.
Amount (Exp)
Enter the value of expense that needs to be credited or debited from the client account For example, to remove £500 of expenses from a client account ensure that the posting type is credit then enter 500 into the field provided.
Posting Date
Enter the date that the Time Ledger adjustment postings is to be made to (06/07/2002).
Client / Non Charge Activity
Type the client or non-charge activity identifier, or select using the magnifying glass.
Client Job
To post to a client job type the job type identifier, or select using the magnifying glass
Job Types are the first level of analysis within Time & Fees and can be used in conjunction with Work Types or independently.
Once Job Types have been set up onto the system they can be assigned to the client to become a client job type. Client job types can be registered manually when the client is created, or on-the-fly as you post to the client.
To create a client job type whilst posting:
Enter the job type identifier into the job type field provided. For example, Acc
You will be notified that the client job does not yet exist for the selected client
Confirm that the job type is to used for this client by clicking the button YES
Job types created for annual or periodic intervals require additional information. For example, an annual job Acc/2002, or period job SLT/2002/1 to be entered
To enable job types go to the Practice management options and click Use job types. Job types are then available to be used in the time ledger. To used job types in the time ledger go to the Time Ledger Options and ensure that account at job level is selected.
Work Types
To post to a work type enter the identifier, or select using the magnifying glass.
To complete a general adjustment it is not required for a work type to be entered. A work type can be added to provided further information for the correction posting.
A work type should be considered an automatic form of narrative, describing the type of work the individual is performing on behalf of the client, for example meeting, telephone conversation and bookkeeping.
Staff Identifier
To post to a staff member enter the identifier, or select using the magnifying glass.
This is not a mandatory field for the completion of the general adjustment posting but is provided to allow a posting to be used allocated to a single staff member.
Cost of WIP
A cost can be entered to evaluate the cost to the practice of any time or expense that is posted to the Time Ledger. This use of cost rates within Time & Fees is optional and can be set in the General tab under Time Ledger Options. Cost rates are usually calculated from the cost to the practice of a staff member working (e.g. based on the individual's salary).
Narrative
Similar to Work type, a narrative can be typed to describe the type of work the individual is performing on behalf of the client.
The narrative can provide a record of why the adjustment has been posted, so it is possible to understand the purpose of the posting whilst viewing the posting on-screen or via a printout.
Click Post to confirm the expense posting, or Close to cancel