 |
 |
|
|
A Time Ledger Write Off can be posted to remove time and expenses that have been updated to the Time Ledger. It is used to show that a 100% under recovery has been made on each posting and has been 'written off' by the practice. (i.e. you do not expect to recover this time).
To post a Time Ledger Write Off:
Enter the Time Ledger.
Click Post WIP.
Click Write Offs.
Confirm the Time Ledger Period.
The Write Off WIP screen will be displayed. To post a write off enter the following fields:
Date
To post a Write Off a date must be entered, For example, 20/08/2002.
Known as the item date, this date represent the date that the write off was posted . For example, if todays date was 31st September 2002 and the write off was posted for the 1st September 20**, enter the item date of 1st September.
For further information on item dates and posting dates click here.
Reference
As an optional feature it is possible to enter a reference for the write off, for example WO001.Entering a reference provides a method of identifying the write off 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.
All jobs
Place a tick in the field provided to write off WIP from all jobs for a client account.
A write off will remove WIP for one job unless the all jobs option is enabled. Selecting all jobs removes WIP from every job from the client selected.
The all jobs facility has the following affect on the four methods of write off time:
Write off all
Selecting write off all whilst the all jobs function is ticked will reduce the WIP balance on all jobs to zero. Using this combination is a quick method of clearing client WIP accounts.
Value Selecting write off to a value whilst the all jobs function is ticked time will be reduced from each job to a specific value.
Writing out to a value while using the All jobs feature is calculated using the following formula:
Client Job Balance X Total Value Written Off
of Client WIP Balance
For example:
Job 1 WIP Balance 200
Job 2 WIP Balance 300
Job 3 WIP Balance 500
Client WIP Balance Total 1000
Write off Value Entered 1500
The Write Off Value for Job 1 is calculated by dividing 200 by 1000. This shows the percentage of Clients Total Balance that Job 1 holds. This is then multiplied by the Write off instruction (1500) to give a write off of £300 for Job 1
Date Selecting to write off to a date whist the all jobs function is ticked will remove all postings before the required date.
Unspecified Selecting to post an unspecified write off whilst the all jobs function is enabled will set all jobs with the status of unspecified.
Client
Enter the client identifier, or click on the magnifying glass to select a client.
The write off will be posted to the client selected and WIP will be removed from this clients account.
Job
If your practice uses job types, to post a Write Off you must select a client job. Select a client job by using the magnifying glass, or type in the job identifier manually.
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.
Narrative
A narrative is an optional field that can be typed to add further detail to the write off posting. For example, 'Write Off to remove client WIP'.
Narratives can be shown against the write off posting within the Time reports and are an effective way of describing a time ledger posting.
Include
The include function determines whether the write off will remove time or expense postings, and must be enabled to post a write off.
The following write off options are available:
WIP
Place a tick next to WIP to write off, (or remove) WIP postings from the client account.
Expense - place a tick next to Expense to write off (or remove), Expenses from the client account.
WIP and Expenses - place a tick next to both WIP and Expense to write off, or remove, time WIP and expense postings from a client account.
Blank - leaving both WIP or Expense fields unticked will not write off time from a client account. Any additional information entered within the WIP write out section of the invoice will be void if this option is selected.
WIP Write off
A write off is a method of removing WIP from a client account. A write out is not posted within an invoice and 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 off to a value - enter the Value that you wish to write off 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 further details of writing off to a value.
Write off 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 further details of writing off to a date.
Write off all - place a tick in the field provided to remove the current WIP balance on the client account. This is a quick method of reducing a client WIP balance to zero.
Click here for further details for writing off all WIP.
Unspecified Write off - to post an unspecified write off leave the write off 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 further information for writing off unspecified write offs.
To post the Time Ledger write off click on Post, or Close to cancel.