How to reduce a client's WIP balance with an invoice?

Article ID

ias-6707

Article Name

How to reduce a client's WIP balance with an invoice?

Created Date

29th August 2008

Product

IRIS Time and Fees

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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