KnowledgeBase

IAS-6707: How to reduce a client's WIP balance with an invoice?

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Article ID IAS-6707
Article Name How to reduce a client's WIP balance with an invoice?
Created Date 29 Aug 2008 00:00:00
Product IRIS Time and Fees
Codes: GGLIWINTIME
Problem How to reduce a client's WIP balance with an invoice?

Resolution Contents
  • Introduction
  • How to reduce WIP with an invoice: Write out
  • Write out methods

    Introduction
    This knowledge Base article will explain how to reduce WIP with an invoice and show the write out methods available to you.

    How to reduce WIP with an invoice: Write Out
    When you post an invoice it is the write out field that is used to reduce your client's WIP balance. For example, if you want to reduce your client's WIP balance from £800 to £500, you can enter 300 in the write out field (800 less 300 equals 500).

    Related KB Article
    KB IAS-6705 : How can I post a simple invoice?

    Write Out Methods
    There are a number of ways of reducing your WIP balances when posting your invoice. These have been categorised into Basic, Intermediate and Advanced. It is recommended that you follow these in turn and gradually increase your knowledge of reducing WIP.

    Basic
    KB IAS-6709 : Write out to value
    KB IAS-6711 : Write out all
    KB IAS-6706 : Unspecified Write out

    Intermediate
    KB IAS-7016 : Write out all jobs with an invoice
    KB IAS-5665 : Clear negative WIP with an invoice

    Advanced
    KB IAS-7152 : Introduction to interim invoicing
    KB IAS-6344 : An example of using interim invoices
    KB IAS-6927 : How to post an interim invoice
    KB IAS-6928 : How to finalise interim invoices
    KB IAS-7161 : I have finalised interim invoices incorrectly



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