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How to write out WIP using the 'All Outstanding' option

Article ID

ias-6711

Article Name

How to write out WIP using the 'All Outstanding' option

Created Date

29th August 2008

Product

IRIS Time and Fees

Problem

I want to reduce my WIP balance when I post an invoice. How does write out 'all outstanding' work?

Resolution

Contents 1. Introduction 2. Reduce WIP: Write out 3. Write out All Outstanding. 4. Step by step guide to writing out All Outstanding 5. Technical details 1. INTRODUCTION This knowledge Base article will explain how to reduce WIP with an invoice and show how to write out to All Outstanding 2. REDUCE WIP: WRITE OUT When you post an invoice it is the write out field that is used to reduce your client’s WIP balance and match the invoice to your staff members’ time. For example, if you want to reduce your client’s WIP balance from £500 to £300, you can enter 200 in the write out field (500 less 300 equals 200). Related KB ArticleKB IAS-6707 : How to reduce a client’s WIP balance with an invoice? 3. WRITE OUT TO ALL OUTSTANDING When you reduce WIP with an invoice, one write out method available for you, is to write out to All Outstanding . This method of write out is a quick way of clearing the client account to zero. For example, you have an Accounts Job and the WIP is for £1000, which you wish to clear to zero when posting an invoice. You may wish to post an invoice for a client and clear all staff time when you post the invoice. For example, you may have completed an audit and may wish to invoice the client for all staff outstanding time spend doing the audit. 4. STEP BY STEP GUIDE TO WRITING OUT TO ALL OUTSTANDING a) From the IRIS main menu, click on IRIS Fees. b) The Fees Ledger screen will be displayed. From the menu, click on ‘Enquiries’ and select ‘Client Summary’ from the drop down menu. c) The Client WIP/Fees Summary screen will be displayed. Type in the client identifier of the client you would like to invoice. For example, A001 and then click on the Billing button. d) The ‘Client Billing Decision’ screen will be displayed. You will see a grid in the middle of the screen. In the Write Out column, right click and select Write Out All Outstanding, this will then display as ALL in the Write Out Column Related KB Article KB IAS-6705 : How can I post a simple invoice? 5. TECHNICAL DETAILS ABOUT WRITE OUT ALL a) Write out all option will clear the WIP balance to zero at the point that the invoice is updated to the Time Ledger. b) Write out all function will only reduce negative WIP to zero if there is enough positive WIP to match it to. If the WIP balance is negative the WIP figure remains. For example, if a WIP balance of £-500 selecting to use the write out all option will not reduce this to a zero balance. This is because write out instructions are credit postings and can only remove time. c) The write out posting will be placed into the same time period as the invoice posting. d) If the invoice is not posted into the latest time period then the invoice will enter a write out into the same period as the invoice. Once it has done this, to ensure ALL the time has been written out a write out posting for this time is posted into the later time period where needed. KB IAS-5665 : How can I clear a negative WIP balance from a client?

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