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Jim2® Business Engine Help File

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Progressive Payments and Claims

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This information relates to both Progress Claims and Donations, but can be used in various ways, eg. an insurance excess, or for progress payments on a job.

 

Using Journal stock allows invoicing progress claims against a project (job or series of jobs), then reversing the value of the progress claims on the final invoice. This will show the remaining balance owing against the final invoice (project), while recording all the costs and income against the correct general ledger accounts.

 

Accounts reporting for progress claims

Note that report progress claims as either income or liability. The Stock GL Group defines whether the value is deemed income or liability.

 

Create a stock GL group for progress claims to report as income

1.On the ribbon, go to Accounts > General Ledger and add a new income general ledger account (4-XXXX Progress Claims) and COGS general ledger account (5-XXXX Progress Claims).

2.On the ribbon, go to Tools > Setups > Accounting > Stock GL Groups and add a new stock GL group, Type – Non depleting, Journal and call it Progress Claims – Income. Link this stock GL group to the new 5-XXXX Progress Claims and new 4-XXXX Progress Claims accounts, and save.

progress claims

 

Create a GL group for progress claims to report as a liability

1.On the ribbon, go to Accounts > General Ledger and add a new Liability general ledger account (2-XXXX Progress Claims) and COGS general ledger account (5-XXXX Progress Claims).

3.On the ribbon, go to Tools > Setups > Stock GL Groups and add a new Stock GL Group, Type – Non depleting, Journal and call it Progress Claims - Liability. Link this Stock GL Group to the new 5-XXXX Progress Claims and new 2-XXXX Progress Claims accounts, and save.

progress claims1

 

Add a stock code to report the value of the progress claim

1.Add a new stock record, eg. PROGRESS.CLAIM.I (Income), or PROGRESS.CLAIM.L (Liability), Type – Journal. Select the new Stock GL Group and enter information in the Description field, eg. Progress Claim #1, use tax code G, as GST is reportable. This stock record can also be assigned to a stock group.

progress claims2
progress claims3

2.For each progress claim, add a sales or billing job, add the PROGRESS.CLAIM stock and description, quantity 1, and whatever amount being charged on the claim. Use the Cust.Ref# field to enter the customer's purchase order to tie all the jobs together.

prog claim job

3.On the final job, add the PROGRESS.CLAIM stock as the last line of stock, quantity 1 and put a negative value against it so the overall job total is the balance owing after deducting the previous progress claims, then invoice the job.

prog claim job2

4.The overall sale will report as usual, but there will also be a reversing entry against the income account in the linked Progress Claim GL Group account.

 

Tip

Journal stock is ideal for adding negative values to jobs, for example, insurance excess, rebates and donations.

 

Further information

Job Options

Job Setups

Jobs Security

Jobs at a Glance

Job Comment Grid

Job Footer

Job Header

Job List

Job Reports

Job Preview Pane

Job Stock Grid

Dispatch

Invoicing

Manufacturing Jobs

Return from Customer

Retail Jobs

Sales Register

 

How to

Add a Job

Add Comments to a Job

Add Document to Job

Add Freight to Jobs

Add Multiple Jobs

Add Stock by Multi-selection

Add Stock to a Job

Add Stock to Job When Insufficient Stock

Auto create purchase orders from Jobs

Create a Job from a Similar or Previous Job

Create a Job Template for Recurring Jobs

Create Back order

Credit an Overcharged Customer

Handle Part Delivery of Jobs

Job/Order Prepayments/Refunds

Mark a Job as Ready

Print a Job

 

 

Rent Stock to a Customer

Reserve Stock for a Job

Scan Stock into Jobs

Select Serial Numbers on a Job

Stock Availability Allocation Process by List

Stock Availability by Location on the Fly

Take Deposits from Customers

Unlink a Job

Unmark a Job as Ready

Unprint a Job

Unreserve Stock for a Job

Use Comments to Track Work in a Job

Use Stock Lookup and Select

View or Edit a Job