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A Time Ledger Invoice is used to post a bill and optionally write out time. This is posted to the time ledger without affecting the Fees Ledger.
Note: It is recommended that the Fees Ledger is used for posting invoices.
Click here for the key differences between posting a Time or Fees Ledger invoice.
To post a manual invoice:
Enter the Time Ledger.
Click Post WIP.
Click Manual invoices.
Confirm the period.
The Posting Invoice direct to Time Ledger screen will be displayed.
To post a manual invoice enter the following fields:
Date
To post a manual invoice a date must be entered, i.e.20/08/2002. Known as the item date, this date represents the date that was entered onto the invoice. For example, if todays date was 31st September 2002 and the invoice was sent to the client on 1st September 2002, enter the item date of 1st September
For further information on item dates and a when posted dates please click here.
Ex VAT
Enter the Value of the bill in the field provided., For example, enter 1000 for a £1000 bill.
Note: Within the IRIS PTP Fees Ledger it is possible to record invoices including VAT.
Reference
As an optional feature it is possible to enter a reference for the invoice, for example INV001.Entering a reference provides a method of identifying the invoice at a later date.
We recommend using this facility for easy recognition of the posting. This is especially useful for reporting purposes and for reversing postings, where recognition is important
Note: Within the Fees Ledger it is possible to automatically generate a reference.
Client
Enter the client identifier, or click the magnifying glass to select a client to be invoiced.
The invoice will be posted to this client and the bill value or write out entered will be recorded on this client account.
Note: Within the Fees Ledger it is possible to post an invoice to multiple clients.|
Job
Job Types are the first level of analysis within Time & Fees and can be used in conjunction with Work Types or independently.
To create a job type click here, or click here to adjust an existing job type.
Note: Within the Fees Ledger it is possible to select multiple jobs on one invoice.
Narrative
A narrative can be typed to add further detail to the invoice posting. For example, "Time Ledger invoice not affecting Fees".
Include
To post a write out ensure that a tick is placed in either the time or expenses fields. Leaving both time and expenses field untitled will mean that a write out will not be posted with this invoice, regardless of what has been entered into the WIP write out fields.
Tick the following to include:
WIP - place a tick next to WIP to write out the WIP from the client account.
Expense - place a tick next to Expense to write out Expenses from the client account.
WIP and Expenses - place a tick next to both WIP and Expense to write out, or remove , time WIP and expense postings from a client account.
WIP Write out
A write out is a method of removing WIP from a client account. A write out is always posted within an invoice and can be used to show the recovery (profit or loss) of an invoice. Unlike write outs, Write offs are posted to show that a 100% under recovery (or loss) has been made.
There are four ways of writing out time within a Time Ledger Invoice; write out to a value, write out to a date, write out all and an unspecified write out.
Write out to a value
Enter the Value that you wish to write out time. For example, if you have a client WIP balance of £1000 and want to carry forward £400 enter a write out value of £600
Click here for more information on posting a write out to a value.
Write out to a date
Enter the date that all WIP is to written out to For example, 31/7/2002. This will remove all WIP posted up until this date
Click here for more information on writing out to a date.
Write out all
Place a tick in the field provided to remove ALL the current WIP balance updated onto the client account. This is a quick method of reducing a client WIP balance to zero.
Click here for information on writing out all.
Unspecified Write Out
To post an unspecified write out leave the write out to a value, date and all fields empty. This will post a zero write out with the option of selecting individual postings at a later date.
Click here for more information on an unspecified write out
You can use any of these options, or write out at a later date if required.
To post the Time Ledger invoice click Post, or Close to cancel the invoice.