How to correct a billing transaction that posted in Project Accounting but not in Receivables Management or in General Ledger

Issue
How do you correct a billing invoice that posted in Project Accounting but not in Receivables Management or in General Ledger?

Resolution

1. Enter a transaction in Receivables Management, and then manually post the transaction to General Ledger. After you take these actions, all modules are correct, but you do not have the link between Project Accounting and the invoice in Receivables. (If you drill back on the transaction in Sales Inquiry, the transaction would not go to Billing. Instead, it would go to Sales.)

OR

2. Enter a credit billing transaction, and then post the billing invoice again.

If the original billing invoice was for a Time and Materials Project:

a. Turn off the posting to Receivables Management. On the toolbar, click Tools , point to Setup , point to Project , click Billing , and then click to clear the Post to Receivables Management check box. You must do this so that the credit does not post to Receivables. The credit will still post to General Ledger.

b. On the toolbar, click Transactions , point to Project , point to Billing , and then click Billing Entry . Enter the Transaction Type of TM Return.

c. The customer and date information will automatically fill in for you.

d. Select the project that you want to credit.

e. Click the expansion box next to Billings to bring you into the Time and Materials Billing window.

f. All line items that were previously billed will be available to return in this window. Check the Rtn box for all line items to be returned.

g. Click the Post button to post the TM Return. This action will update the project in addition to General Ledger. If General Ledger was not updated originally, delete the batch that was created from the TM Return. To do this, click Transactions on the toolbar, point to Financial , and then click Batches . Find the batch, and then click Delete .

h. Go back to Billing Setup and mark the Post to Receivables Management check box.

i. Go back to Billing Entry and re-bill the line items that you just returned.

j. Check the Sales Inquiry window to verify it was posted to Receivables Management.

If the original billing invoice was for Fixed Price or Cost Plus Project:

a. Turn off the posting to Receivables Management. On the toolbar, click Tools , point to Setup , point to Project , click Billing , and then click to clear the Post to Receivables Management check box. You must do this so that the credit does not post to Receivables. The credit will still post to General Ledger.

b. On the toolbar, click Transactions , point to Project , point to Billing , and then click Billing Entry . Choose the Transaction Type of Invoice.

c. Enter the customer and date information.

d. Select the project that you want to credit.

e. Click the expansion box next to Billings to bring you into the Progress Billings window.

f. To credit the project enter the amount to bill as a negative number. You must have billed an amount previously in order to enter the negative.

g. Click the Post button to post the invoice. This will update the project in addition to General Ledger. If General Ledger was not updated originally, delete the batch that was created from the invoice. To do this, click Transactions on the toolbar, point to Financial , and then click Batches . Find the batch, and then click Delete .

h. Go back to Billing Setup, and then click to select the Post to Receivables Management check box.

i. Enter the billing transaction and post.

j. Check the Sales Inquiry window to verify it was posted to Receivables Management.



This article was TechKnowledge Document ID: 28881