Question asked by Mark Heaps 7 years ago
Is it possible to set the accrual date by invoice line rather than globally for the whole invoice? This would be useful as I regularly do jobs which span months but invoice for the total rather than month by month. Being able to break it down to lines would enable me to keep my P&L accurate while not having to raise separate invoices to a customer.
Hi Mark - Some of my clients bill months in advance and so, rather than use the fees or sales revenue accounts, they put the revenue to a "other creditors" account called "Deferred income" and then generate a recurring journal entry (Tools menu) to debit this account and credit fees every month.
For example if I billed a client £600 for 6 month's work, I'd create a recurring journal entry to debit deferred income and credit fees with £100 for 6 months.
Best answerHi Mark,
Unfortunately not, though I can see how that would be helpful. I will add it to our customer suggestions area for consideration.
Hi Mark - Some of my clients bill months in advance and so, rather than use the fees or sales revenue accounts, they put the revenue to a "other creditors" account called "Deferred income" and then generate a recurring journal entry (Tools menu) to debit this account and credit fees every month.
For example if I billed a client £600 for 6 month's work, I'd create a recurring journal entry to debit deferred income and credit fees with £100 for 6 months.
Best answerHi Paul, thanks for the suggestion, that does make sense. In my world though the situation is more likely to be that I've done 3 weeks work that happens to cross an end of month rather than an ongoing contract over a longer period of time. While the same logic would still apply it seems like a bit of a faff for someone who is, by self admission, pretty rubbish at doing their accounts!
Oh I see - yes too fiddly. I've been doing accounts for over 40 years but I'm still "in practice" so not there yet!
You must 