Re: [SL] Prepayment / Contract Services

[Dr E. L. <el...@li...>]

It's a service, perhaps, not a part?

Create a suspense account for the client (PrePayment...)  and debit it
when they pay.  Then do your time cards, sales order and pay the
invoice from the PrePayment account by way of the Cash->Receipt.

el

on 12/14/06 6:34 AM Steve Switzer said the following:

> I haven't received any further replies to this and figured I'd
> "bump" the thread.  I need to have this ability shortly, as I'll be
> entering a contract very soon.  I brainstormed a bit and tried to
> come up with a way to handle this with different AR entries.
> However, I quickly realized this won't work since the whole idea of
> an "AR" is to show that someone owes *you* money.  So, I bill a
> customer for a bank of hours (they receive an invoice), and they pay
> it.  The invoice is closed, since the payment was satisfied.  What
> they were billed for must then go *somewhere* to cancel out the
> actual hours that I've logged.  This almost seems like an AP/AR
> scenario against a part, where I've been paid for a part (really
> labor, but would need inventory), but then I have to pay a vendor
> and order the parts (the actual labor is performed).  However, I
> cna't figure out how to get the time cards involved with this.  Then
> again, should they be?
>
> Thoughts are greatly appreciated.  *Somebody* must be doing this out
> there.  Where are you?  :)
>
> Thanks,
> Steve