Overview
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Creating project billings is a straightforward task but deciding on using advanced billing or AIA is based on the contract and retainage being present.
Non-retainage Contracts
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Advanced bills, not to be confused with AIA billing, allow you to book money against a project before anything has been shipped or billed. Creating an advance bill will generate an invoice through AR which can be paid by a cash receipt but will not show up on the AR aging because advance bills are booked to a project deposits account. Like an AIA billing they are not considered revenue. When a regular invoice is created advance billings are treated as a credit toward that invoice.
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