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I would like to be able to reconcile the sales invoice number and value against the costs used to generate that invoice in a GL account. The invoices I am talking about are recharge sales invoices. Currently we post costs to an intercompany suspense account. These costs come from different parts of the system. They include timesheets, purchase invoice costs, and expenses. I would like to be able to offset the invoice value against the costs. Obviously the individual costs that have been posted to the system have their own voucher number and other reference numbers, and the sales invoice has its own reference number as well. But can or does the system mark the already posted costs in some way so as to be able to net the invoice values and costs, so as to be able to clear down the transactions in a reconciliation.
I have personalised the GL account pulling in all possible fields that might provide a reference that I can identify with in the 'Project management and accounting' module where the sales invoices are prepared. But I am unable to find a link with the personalisation in any area in this part of the system. I have looked in inquiries, and reports and other part of the system in the Project module.
Has anyone else had this issue? If so how did you find a solution? or is there no solution? Is it a setup issue?
Any and all help would be much appreciated.
How do you invoice those costs to your customer? Do you use service items, categories or ordinary stocked items? Also, can you let us know whether you simply create sales orders or whether those sales orders are related to a project?
Many thanks and best regards,
Hi Dr. Ludwig Reinhard,
Thank you for replying to my issue.
We are in the service industry. Our system is set up using Categories, and projects. We receive sales orders from the customer. We generate invoices against those sales orders.
Let's take a timesheet as an example where you post your project costs of let's assume $100.
When you invoice those times to your customer - let's assume for $150 - you know that you will make a profit of $50 per hour.
At the accounting level you usually have separate financial dimensions for the project. This allows you a project level based comparison of costs and revenues.
At the project level you have the project category in addition, which allows you a project category based comparison of costs and revenues.
What you don't have is an invoice based comparison of costs and revenues. That is, when you invoice $150 for an hour of work you cannot directly identify from the invoice voucher that the hour costs $100. Digging down to this level would require additional / BI tools.
Thank you for your help. I appreciate your time.
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