Overview

Overview

Project Accounting
The BusinessMaster Accounting Module is for creating accounting transactions (Invoices and Vouchers) and outputting them to your accounting package. Our program is especially designed to output to Quickbooks Pro 2002 and above. With our program you can bill your customers progressively, with progressive invoices against projects, or you can bill them using the typical line item Invoice that you would see in most accounting programs. (This is the standard quantity of a part number with a description for a certain price.)

Progressive Billing
If you bill primarily for projects in a progressive manner, BusinessMaster accommodates coordinating those billings with your production schedule. You can also separate the booking of revenue from the invoicing of customers. The Advantage: Setting up billings this way can be very beneficial because you can receive deposits as liabilities which do not have to be converted to revenue until the job is completed. To our knowledge, this capability is unequalled by any application out there in the market. While this may seem complicated, we'd be more than happy to talk with your accounting professional and make sure that you understand exactly how this works. In fact we make it especially clear in our training process that we do not want to implement this technique without the approval of you accounting professional.

Separating the booking of revenue from the amount of billing you do on a Job gives you the ability to receive your customer's job deposit as a liability. At a certain point in the production schedule the system will remind you to send both bills and revenue bookings to the account, making sure you do not miss the opportunity to bill your customers for your products. When the system tells you that you need to reverse your job deposit it will automatically send information to QuickBooks and convert your job deposit from a liability to revenue. The result of this is that you will be able to book your income as a liability until that deposit is no longer refundable. This makes it possible to defer the income from that job as taxable liabilities, instead of taxable revenue.

Note: BusinessMaster MUST have a liability account (usually named UnEarned Revenue), and it must be setup in the Revenue field in the Preferences. It must correspond to a liability account in QuickBooks.

Project Billing
Project Billing has 2 different components; SalesCategories, which are the booking of Revenue, and Billings which are the Invoicing and the posting to Accounts Receivable. Traditionally, "booking" revenue, and "booking" accounts receivable is the same thing, and happens on an Invoice. In the case of progressive billings, and/or adjusting deposits, the booking of revenues can happen independently because you may bill the customer 3 times (e.g. 1 Deposit, 1 Progressive billings, 1 Final Billing), and yet post Revenue to 2 different GL Accounts. Instead of booking a percentage of the Invoice each time, the revenue may in fact be 100% booked, although only 50% of the Billing has been done.

The Billing Screen in the Projects Manager is where the user sets up the Invoices/Billings to be generated as Invoices in your accounting program.

Here are descriptions for the fields and buttons found in the Billing section of the Projects Manager:
Pricing Categories
The Pricing Info from the Sales/Prod screen is listed at the top of the Billing Screen for reference. You cannot edit the Pricing Information directly from this screen.
TotalAmt
This field reflects the total amount of all the billing amounts for the job phase.
BalDue
This field tells you what has been requested but not received. This way you can keep people out of the accounting program and still give them knowledge of the financial status of a job phase.
ToReq
This field tells you what billings are left to request for the job phase.
Num
This is just a reference number for the Billing.
Date
The date of the Billing.
BillingDescription
The BillDescription will refer to an Item in the system, labeled "Deposit" for example, or PB-1-xxx for Progressive Billing, etc.
Note#
The Note field here refers to which Invoice Note that will be used for this billing. There are seven to choose from, that are customized in the Preferences. 1 is always deposit, 2-6 are intermediary billings, and 7 is usually the final billing. Every time you do a billing you will select the note you want to use.
Amt
The amount field is for entering the amount you are going to bill for.
ProdStage
The production stage you are going to accomplish this billing by. So when a phase hits the selected stage, you will want to accomplish the particular billing. You can run reports that will tell you what stage your different billings are at.
Requested Status
ReqPmt Button
Pressing this button checks off the Requested check box and indicates that this billing has been sent out, and generates an Invoice in the system.
PmtRec Status
Check this box when the payment has been received. This is not an accounting issue. We do not post into the accouting program from this screen though we are working to have this functinality in 2004. For now, this checkbox field is to keep record here of the payment received, because of the Total Amt, BalDue, and ToReq fields. These are status indicators that are very important for manufacturers who do a lot of progressive billing.
PaymentAmt
The amount of the Payment received against the Billing.
Pmt Date
The Date of the Payment received against the Billing.
InvoiceNum
The Number of the Invoice that is generated when the Req Pmt button is clicked.
PaymentExported
When this status box is checked off, you know that the payment received against the Billing has been exported to your accounting program.

Click here for more detailed instructions on conducting Billings in BusinessMaster.

Here is a screenshot of the Projects Billing Screen in the Projects Manager:

Booking of Revenue
Booking of revenue is conducted from the Booking screen in the Projects Manager. This is where you set up the Revenue accounts for each Phase. This will determine the amount, and the GLaccount that the revenue for this Phase will be booked against in your Accounting program.

Click here for more detailed instructions on conducting Bookings in BusinessMaster.

Here are descriptions for the fields and buttons found in the Booking section of the Projects Manager:
Pricing Categories
The Pricing Info from the Sales/Prod screen is listed at the top of the Booking Screen for reference. You cannot edit the Pricing Information directly from this screen.
SalesCategory
The GLAcct# for the Booking.
ProdStage
The Production Stage set up for this project/Phase by which the Booking should be accomplished.
Description
A simple description to help you understand what is being Booked.
Amt
The Amount of the transaction.
ToBook Status
A Check off box to flag this line to be processed as a transaction.
Book
This button will create a Journal Entry transaction to be exported to your accounting program. When the transaction has been processed, the Booked field will be checked, and the Date will be entered.
Booked Status
Indicates that the Booking has been exported to your accounting program.
Date
The date the Booking was exported to your accounting program.

Here is a screenshot of the Projects Booking Screen in the Projects Manager:

Need to Bill <Top>
This report is accessed from the Accounting Main Menu via the Need to Bill link, and will show you all the Sales Orders/JobPhases that need to be Billed for. This status is based on the Production Stage being completed that flags the Billing. Once the Invoice Button has been clicked for a Billing, which creates and Invoice for the Billing, that Billing will no longer appear in the Need to Bill Manager. (Note: At this time, the ToExport checkbox does not have any function.)

Here are descriptions for the fields on Need to Bill report:
SONum
The Sales Order/Phase Number for the Billing.
Notes
The Job Description Notes from the Projects Customer Header information.
Billing Description
The Billing Description from Billing Entry on the Projects Billing screen for the Sales Order/Phase.
ProdStage
The Production Stage that flags the need for the Billing to be accomplished.
ToExport
This checkbox does not have any function at this time.

Click here for more information on Billing against Jobs.

Need to Book <Top>
This report is accessed from the Accounting Main Menu via the Need to Book link, and will show you all the Sales Orders/JobPhases that need to be booked. This status is based on the Production Stage being completed that flags the Booking. Once the ToBook box has been checked off in the Booking Manager, the ToBook box will also display checked off in the Need to Book. Once the Booked Button in the Booking Manager has been pressed for a Booking, that Booking will no longer appear in the Need to Book Manager. (Note: You cannot flag the Booking to Book, or Book the Booking from the Need to Book report.)

Here are descriptions for the fields on Need to Book report:
SONum
The Sales Order/Phase Number for the Booking.
Notes
The Job Description Notes from the Projects Customer Header information.
Sales Category
The Sales Revenue GLAccount# for Booking.
ProdStage
The Production Stage that flags the need for the Booking to be accomplished on or by.
ToBook
If you check the ToBook box off for the Booking from the Projects Booking screen, then when the set Production Stage is checked off as complete, the Booking will be checked off ToBook on the Need to Book Report. (You cannot flag the Booking to Book, or Book the Booking from the Need to Book report.)

Click here for more information on Booking Revenue.

Invoices <Top>
This provides for Accounts Receivable transactions. There are 2 basic methods for invoicing:

1. Line Item based Invoices, coming from PackingSlips and SalesOrders. This is a typical scenario useful for Production, or simple billing to customers.

2. Project Billing which is handled in the Projects Manager. This provides for ProgressiveBillings, separate Bookings of Revenue and automatic generatiion of Invoices. Project Billing also provides for the unique ability to bill for Deposits, and in turn convert them to Revenue at specific Stages in Production. Billing automatically creates an Invoice that then needs to be reviewed in the Invoice Manager and set to Export to your accounting program.

Here are descriptions for the fields and buttons found on the Invoice Manager:
PackingSlip#
The Packing Slip number for the Sales Order.
SalesOrder#
The Sales Order/Phase number.
Invoice#
The auto-assigned Invoice Number.
CustomerID
The Customer ID for the Order from the AddressBook.
PO#
The Customers PO Number, if applicable.
Invoice Date
The Invoice Date is automatically entered when you add and new invoice and select a Packing Slip.
Order Taken By
A reference field to place initials or a code for who took the Order.
Order Notes
The Order Notes are from the Order Description in the Projects Header, or from the Order Notes field on the Packing Slip. The Order notes appear on the Invoice, and they cannot be edited on the Invoice.
Cust ID Notes
The Cust ID Notes are from the Notes field for the Customers Address record, or it can be modified on the Packing Slip or the Invoice. The Cust ID Notes do not appear on the Invoice.
Shipped Via
This is the Shipping Method for the Order that was selected on the Sales Order.
# of boxes
This field is for tracking the number of boxes, if applicable.
ToPost Button
The ToPost button is used for flagging the Invoice for export to your accounting program. When you click the ToPost button, it will say "ToPost" in the field next to it. Once an Invoice has been exported, there will be a date stamp there to indicate the Invoice was exported. If there are problems with the exporting, there will usually be a message in this field indicating why there was an error.
Refresh Button
The refresh button refreshes the dollar totals for line item changes.
LineTotal
The total of the all the line items on the Invoice.
TaxTotal
The tax total for the Invoice. (This applies to taxable items, not when a tax line is added).
ExtTotal
The total dollar amount for the Invoice.
AddLine Button
Adds another line to the invoice, allowing you to add freight charges, or additional charges. If you set a default Invoice Part Num in the Preferences/Options, clicking this button will add your selected Part number from the ItemMaster to the new line.
Ship
The quantity shipped for the Line Item.
ItemPart#
The internal item number from the ItemMaster.
Description
The Item Description for the Line Item from the Sales Order.
UOM
The unit of measure for the line ite
Tax
The tax status for the line item (Yes or No).
Price
The sales price for the Line Item.
Lot Num Notes
The Lot Num Notes from the Packing Slip, if applicable.
Print Invoice Button
Previews the Invoice report for printing.
Add Tax Line Button (New Invoice Manager Only)
Adds a tax line to the invoice, allowing you to add your tax charge. You then need to enter the tax amount.
Quick How To
To Invoice against a Packing Slip, open the Invoice Manager and simply pick the appropriate PackingSlipNum and the system will then assign the next Invoice number. You verify the Invoice, add tax or any additional charges and then you can print the Invoice. If you press ToPost, then this Invoice is available to your Accounting Export Link. Note: You must have a Ship To Address entered for your Customers records in the AddressBook in order for Invoices to Export properly to your Accounting Program.

Click here for more information on how to Add and Edit Invoices in BusinessMaster:

Here is a screenshot of the Invoice Manager:

Batch Invoice <Top>
This screen is accessed from the Accounting Module Main Menu via the Create Batch Invoice link, and is for creating batches of Invoices.

Invoice Payments <Top>
The Payments Viewer is accessed from the Accounting Main Menu via the Invoice Payments link. This form is for keeping Payment Histories on Invoices created in the system.

Vouchers <Top>
Accounts Payable in BusinessMaster is driven by the Purchasing system. When you receive a Purchase Order, that receiver gets associated with an Invoice Number, and an Invoice Date from the Vendor. It then gets evaluated through the Vouchering process to find out whether the vendor is invoicing you correctly, or if you've made any errors on your Purchase Order. Once this has been verified in the Voucher step, by simply by looking at the numbers and checking out the vendor's invoice, and entering the Vendors Invoice number, pressing the To Post button in the Voucher Manager will prepare this bill to be exported out to your accounting program, while automatically entering into your Accounts Payable as a Bill to be Paid.

Vouchering is the verification step for Accounts Payable transactions. Each Voucher is referenced to a Receiving Number, and allows the user to verify the Vendors invoice with the data collected. The Voucher takes Receiving data, and allows the user to verify the Vendors invoice against it. Entering the Invoice# and Date will prepare the data for output to an accounting program, and pressing ToPost will allow this record to export.

Here are descriptions for the fields and buttons found on the Vouchering Manager:
Voucher#
The auto-assigned Voucher Number.
Receiving#
The Receiving Number that was auto-assigned when the Shipment was received against the Purchase Order.
PO#
The Purchase Order Number that corresponds to the Vendor's Invoice.
Invoice#
The Vendors Invoice Number.
Invoice Date
The Vendors Invoice Date.
Freight
This is for reference only. Any information entered in this field does not export to your accounting program.
Other Charge
This is for reference only. Any information entered in this field does not export to your accounting program.
Void Voucher Button
If the voucher does not match the Vendor invoice, or for whatever reason you want to delete the Voucher, pressing this button will delete the voucher.
Rec Notes
Any notes present here are carried over from the Receiving Notes.
Voucher Notes
This is a reference area to make any informational notes pertaining to the Voucher.
To Post Button
This button flags the Voucher to be exported to your Accounting Program. It places the text "To Post" in the field directly beneath the button.
To Post Field
Once the Voucher is exported, this field beneath the To Post button will reflect that it was posted, with a time and date stamp. If you have vouchered an Invoice and manually entered it into your accounting program, you will want to type "MANUAL", or something similar in this field.
Refresh Data Button
Pressing this button refreshes the line item data and totals.
Line#
A reference number for each line item on the Voucher.
Qty B/O
The quantity of the item left on Back Order on the Purchase Order.
Qty Rec
The quantity of the item received agains the Purchase Order.
ItemPart#
Your internal Item Number for the line item received.
Description
Your internal description for the line item received.
Unit
Your unit of measure for the line item received.
GLAcct#
Your general ledger account number for the line item received.
Price
The price to be paid to the Vendor for the line item received.
Tax
Checking this tax box suggests the tax amount, if applicable. Once all your taxable items have been checked off in this column, you can refer to the Suggest Tax field below the line items to see how much tax to add to the Voucher. You can then add a line using the Add Line button to add a tax line to be included on your bill that goes out to your accounting program. Once you have added the line, your total below will show the Total inlcuding the Tax line, plus the suggested tax. This is not what goes to your accounting program. The Total below the Line Items is only for reference if you leave the Tax boxes checked. If you wish to see the accurate total, then make sure the Tax boxes are unchecked. Otherwise, just refer to the Subtotal field to get your accurate total.
Subtotal
This field lists your subtotal before the suggested tax. If you add lines, this line will give you the accurate total.
Suggest Tax
When taxable items are checked off in the tax column, this field will reflect that suggested tax total for the Vendors Invoice.
Total
This field lists your subtotal before tax. If you add a Tax line and you have tax checkboxes checked, then this total will not be accurate. In this case, this is not the Total that goes out to your accounting program.
Accept Tax
Click this button to show the suggested Tax amount in the Tax Amt field. This is for reference only.
Tax Amt
This lists the suggested tax amount (for reference only), if you click the Accept Tax button.
Add Line
Adds a Line to the Voucher with whatever your Default Voucher Item Number is from the Preferences. This can be used for Tax Charges, or Freight Charges, etc. If you want to add another type of charge, you will have to add the default line and then change it to another item number.
Print Voucher
Press this button to preview the Voucher report for printing.

Click here for more detailed instructions on how to Add and Edit Vouchers.

Here is a screenshot of the Voucher Manager:

When you close the Voucher Manager, and there are Vouchers flagged "To Post", you will get a popup asking if you wish to Post Open Bills to your accounting program:

Pay Voucher <Top>
The Voucher Payment Manager is accessed from the Accounting Module Main Menu via the Pay Voucher link, and is for paying Vouchers. This is used when you are not using a third party Accounting program such as QuickBooks. When you wish to edit an already paid Voucher, use the Edit Paid Voucher link from the Accounting Module Main Menu to access the Voucher Payment Manager.

Here is a screenshot of the Voucher Payment Manager:

GLAcctNum Manager <Top>
The GLAcctNum Manager is for adding and editing and viewing the GLAcctNums in the system.

Click here for instructions on how to Add and Edit GLAcct Nums in BusinessMaster.