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Advanced Billing

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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

  • Usually milestone progress billings (not related to actual items shipped).
  • Agreed upon draw schedule prior to starting.
  • Posts to a contract deposit liability account.

Retainage Billings

  • The AIA Billing screen is used to generate any invoice with retainage.
  • Print either AIA format invoices or regular invoices showing retention.
  • Posts to a contract deposit liability account.
  • Items can be partial or completely billed.

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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