to select, a default output path for your Wide Area Workflow (WAWF) files. This path is used as the default on the Create WAWF Billing Files screen.Use this screen to set up system-wide parameters for various billing functions and identify default values for many billing screens. You can set up the structure and automatic numbering of invoices and usage documents. You can also identify several default values for the billing screens including remittance addresses, billing formats, price catalogs, payment terms, sales tax codes, and shipping methods. You can also select system-wide parameters for posting progress payment (Form 1443) invoices, cost of sales accruals, editing of PLCs, billing group usage, and treatment of AP discounts. In the Units Usage User Defined Field Labels group box, you can label the user-defined columns on the Manage Unit Usage screen.
Set up this screen before calculating billings or entering unit usage. You can modify the information after the bills have been calculated. However, if you make modifications to the Last Company Wide Invoice No or the Last Usage Document No and Costpoint must reuse a number, you cannot save your billings or your usage documents. In general, the only time you modify the last number used is when your documents are numbered by fiscal year; for example, you change "FY01-000000" to "FY02-000000" at the start of fiscal year 2002 billings.
You can enter a default billing cycle, remittance address, billing format, price catalog, payment terms, sales tax code, and/or shipping method only after you set up each desired default item in its respective maintenance screen. If you modify the defaults or the system-wide settings after calculating bills, you must recalculate the bills to reflect the desired modifications.
Evaluate the items in this group box when initializing Costpoint. The selections you make here affect what is included on the bill when it is calculated. Modifying these selections after the bill is calculated may require some time-consuming steps to produce an accurate bill.
Enter the last invoice number used. This field defines the starting point for Costpoint-generated bill numbers. Costpoint uses this field to automatically number all invoices. All Costpoint invoices must have a unique invoice number, which is used by Costpoint to keep track of all the detail related to an invoice.
You can use a combination of alphabetic characters and numbers for the invoice numbers, but Costpoint increments only the right-most numeric value. The numeric value to be incremented cannot be followed by any other characters. Keep in mind the number of invoices your company generates when determining how many zeros to include after the alphabetic characters. For example, you may want to have each fiscal year's invoices start with a new number; that is, fiscal year 2001 starts with "FY01-000000" and changes to "FY02-000000" at the start of fiscal year 2002 billings. This allows you to have 999,000 invoices during each fiscal year.
Enter the starting point for Costpoint-generated usage document numbers. Costpoint uses this field to automatically number all usage documents entered into Costpoint. All usage documents must have a unique document number, which is used by Costpoint to keep track of all the detail related to a usage document.
You can use a combination of alphabetic characters and numbers, but Costpoint increments only the right-most numeric value. As with the company-wide invoice numbers, the numeric value to be incremented cannot be followed by any other characters. Please keep in mind the number of usage documents your company generates when determining how many zeros to include after the alphabetic characters. (See the numbering example in the documentation for the Last Company Wide Invoice No field.)
Select this check box to have two identifiers for each project invoice, Costpoint-generated company-wide invoice number described previously, and the project-specific bill number. The most common use for this is with government contract billings where the agency requires that bill numbers start with one (1) for each project. Select this check box to enable use of project-specific bill numbers.
You must understand the difference between the terms "invoice number" and "bill number" as they are defined in Costpoint. "Invoice number" refers to the unique system-generated number used by Costpoint for internal tracking. All bills in Costpoint have an "invoice number," and no two invoice numbers are the same. "Bill number" refers to a number assigned to the document sent to the customer.
Select this check box to suppress previously billed amount information found on the Detail subtask of the Manage Standard Bills screen. If this check box is not selected, the Detail subtask contains information rows for both current and previously billed amounts. If you select this check box, the previously billed amount rows are suppressed and you can review only the rows for current amounts to bill on the Detail subtask. Selecting this check box generally results in faster access times to the Detail subtask. Note that the Inception-to-Date (ITD) columns on the main screen of Manage Standard Bills are not affected by this option.
Select this check box to enable editing of the PLC field on the Labor tab of the Manage Open Billing Detail screen. The PLC is posted to Open Billing Detail when the original journal is posted in Labor, Accounts Payable, or Journal entries. The General Ledger and all other related tables store the PLC as it exists on the original posting. If you allow the PLC field to be edited, you get inconsistencies in the database tables. Give careful consideration to this issue before you enable this functionality.
Select this check box to post all discounts taken to the Open Billing Detail file (in Costpoint Billing) during the cash disbursement posting process. This enables you to pass along discounts received from vendors to your customers. This feature is relevant only if you are using the Gross method of posting AP discounts. With this method, the discount is taken when the checks are produced and is posted to Open Billing Detail when the cash disbursement is posted, if the check box is selected. If you do not select this check box, the discount is not posted to Open Billing Detail. If you use the Net method of posting AP discounts, the discount is posted when the voucher is posted. This check box is not relevant when using the Net method.
Select this check box to assign users to a billing group on the Manage Billing User Groups screen. This check box is selected by default. If you do not select this check box, Costpoint deletes any data already entered in the Billing User Group field on the Manage Project Billing Information screen. If you leave this check box selected, the Billing User Group field is required on the Manage Project Billing Information screen. If you select this check box after setting up some of the Project Billing Information screens without the user group information, you must enter the correct billing groups for all records previously entered.
Select this check box to allow processing of ACRN Bills and access to the applicable ACRN Bill tables. Selecting this check box enables the following screens:
The Manage ACRN Bills screen, where you can establish the ACRN billing information.
The Calculate ACRN Bills screen, where you calculate ACRN billing amounts based upon the ACRN billing information established on the Manage ACRN Bills screen and invoice amounts calculated by the Calculate Standard Bills screen.
The Print ACRN Billing Edit Report screen, where you review initialized and/or calculated project ACRN allocation amounts.
If you select this check box, Costpoint recalculates all detail rows so they "foot" for the current billed amount displayed on the summary invoice. The default for this check box is cleared. Selected, it becomes non-editable.
The recalculation occurs only if the following conditions are met:
The project must have a Loaded Labor Rate billing formula.
The Show Billing Rates and the Show Current Period Hours Billable check boxes must be selected for the project on the Hours tab of the Manage Generic Billing Formats screen. This causes the invoice to display billing rates and current period hours. Projects that have the Govt 1035 Billing Format and the Print Using T&M Format options selected on the Manage Project Billing Information screen are also included.
The invoice must be computed using the Calculate Standard Bills screen.
No recalculation takes place for billing rate types of A (Actual). The Rate Type is determined on the Link Project Labor Category Rates to Projects screen.
Billing cycles group bills according to the time that they are billed. Cycle codes are generally monthly, quarterly, bi-monthly, and so forth. After you set up the billing cycles, you can calculate, print, and post bills by billing cycle. Billing cycles can facilitate the billing process if a large number of bills from multiple cycles are being processed at the same time. If you select the Use Billing Cycles check box, the Billing Cycles field on the Manage Project Billing Information screen is required. If you select the Use Billing Cycles check box after setting up some of the Project Billing Information screens, you need to enter the correct billing cycles for all records previously entered.
If you select this check box, you can assign billing cycle codes to each project on the Manage Project Billing Information screen. Projects that have billing cycle codes can then be selected and calculated based upon their billing cycles. You must first set up billing cycles on the Manage Billing Cycles screen before you can enter them on the Manage Project Billing Information screen.
Use the drop-down list to select the default billing cycle for project billings. If the majority of your customers or projects are billed on the same cycle, you can select that cycle as the default. If your projects are billed using many different cycles, you may not want to enter a default. The default cycle you choose must first be set up on the Manage Billing Cycles screen.
Your selections in this group box are used as defaults (which can be overridden) when you enter records on the Manage Project Billing Information screen. Using these defaults to populate the Manage Project Billing Information screen can greatly expedite the billing setup process. These defaults are not required in the Billing Settings screen.
Use the drop-down list to select the default remittance address to which customer payments are sent. You can set up remittance IDs on the Manage Remittance Addresses screen. Remittance addresses are required on the Manage Project Billing Information screen. If you do not select a default, you must enter remittance addresses individually on each Manage Project Billing Information record.
Use the drop-down list to select the default billing format that your projects use. If you have many different formats, you may want to leave this field blank so that you do not accidentally print the wrong format on a given bill. You can set up billing formats on the Manage Generic Billing Formats screen.
If you want to assign default payment terms to your projects, enter, or use the drop-down list to select, the default terms code here. You can set up terms on the Manage Customer Terms screen.
Enter, or use the drop-down list to select, the default sales tax code that you want to apply to your billings. You can set up sales tax codes on the Manage Sales or Value Added Taxes screen.
Enter, or use the drop-down list to select, the default shipping method you want to use when entering sales order entries. This field does not apply unless you have the optional module, Costpoint Sales Order Entry, located in the Materials folder.
Use this group box to control how invoice postings are handled. This group box applies to projects that bill using government form 1443, Contractor's Request for Progress Payment.
Select this check box if the 1443 Delivery Invoice posting method is Net (instead of Gross). If you bill using progress payments, you can submit interim bills to recover a percentage of your incurred costs, even if deliveries have not been made. When you ship a finished good to the customer, the bill is a "Delivery" invoice. This invoice shows the value of the shipment, but you must reduce, or "liquidate," an amount for the progress bills that have already been paid. Therefore, the invoice amount that is paid is always the net amount.
If you select this check box, Costpoint posts the general ledger and accounts receivable reports with the net amount. This means a receivable is created for the net amount and the liability reduced for the liquidation amount when the bill is posted. When the customer pays the bill, the cash receipt credits the receivable for the net amount.
If this check box is not selected, Costpoint posts the general ledger and accounts receivable reports with the gross amount. This means a receivable is created for the gross amount of the shipment. When the customer pays the bill, the cash receipt credits the receivable for the gross amount and reduces the liability by the liquidation amount.
In summary, this check box controls the presentation of billed accounts receivable and liquidated progress payments for delivery invoices that have not been paid.
For more information, please see "Progress Payment Bills."
Select this check box to treat progress payment bills like non-progress payment bills. Progress payment bills are interim bills that allow you to recover a percentage of your incurred costs, even if deliveries have not been made. As such, these bills generate a receivable for the amount of the bill, but they also generate a liability, because you are billing for amounts that have not been delivered.
When you post the bill, not only are the accounts receivable and project billing history files updated, but the general ledger files are also updated. The A/R progress payments account is debited and, instead of using unbilled A/R as the other side of the entry, Costpoint credits the unliquidated progress payments account to create the liability. When the customer pays the bill, cash is debited and the A/R progress payments account is credited. Using this method means that your financial statements show an A/R progress payments receivable balance for any unpaid progress payment bills. It also shows the unliquidated liability when the bill is posted.
If you do not select this check box, the accounts receivable and project billing history files are still updated when the bill is posted, but no entry is made to the general ledger; consequently, outstanding progress payment accounts receivable are not displayed on your financial statements. When the customer pays the bill and you post the cash receipt, the entry debits cash and credit the unliquidated progress account. With this option, the A/R progress payments account is not used, and the liability is not displayed on your financial statements until you post the cash receipt. You can suppress progress payment bills when printing the Accounts Receivable Aging Report. This enables you to reconcile the aging report to the general ledger if you do not select this check box.
Use this group box to determine the cost of sales accrual method for units. You can retain the cost of the units on your balance sheet, as a capitalized or inventoried cost, and can recognize a portion of that cost as the units are billed (when the bill is posted) or as they are "incurred" (when the unit usage is posted). Using either method, a transfer is made during the posting to move the unit cost of sales from the balance sheet to the income statement. Note that a warranty expense accrual can be optionally posted as part of this entry.
Select this option to recognize unit cost of sales when the bill is posted.
Select this option to recognize unit cost of sales when the unit usage is posted.
These labels are used as column headings on the Manage Unit Usage screen. Next to each data type, enter a label that is appropriate for that data type. For example, for one of the numeric labels, you could enter "Units Remaining." You can enter labels for two numeric fields, one text field, and one date field.
Select this check box to allow percent complete values exceeding 100% on the Manage Milestone Percent Complete Bills screen.
Use this group box to choose the default output path for your WAWF files. If you plan to use project product bills (rather than standard bills) as your source for WAWF files, you can also use this group box to enable WAWF entry on the Manage Project Product Bills screen.
For more information, see the "Wide Area Workflow" topic.
Enter, or click to select, a default output path for your Wide Area Workflow (WAWF) files. This path is used as the default on the Create WAWF Billing Files screen.
If you plan to use project product bills (rather than standard bills) as your source for WAWF files, select this check box to make certain fields and subtasks available for WAWF entry on the Manage Project Product Bills screen. If you do not select this check box, these fields and subtasks are hidden. See the documentation for the Manage Project Product Bills screen for more information. This check box defaults as cleared.
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Subtask |
Description |
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Selected Billing Formulas |
Click this link to open a subtask where you can select the billing formulas you would like to use for your company. |