The following is how to handle your Work In Progress accounts.
If the Items will only ever be used on Jobs...
1. Find the computer that the QuickBooks Connector is installed on and Pause it.
2. On the same computer, switch QuickBooks from Multi-user mode to Single-user mode.
3. Reconnect the QuickBooks Connector.
4. In FieldEdge, go to the Item list and recall the first Item you will use only on Jobs.
- Change the Income account to your WIP Income account.
- Change the Expense account to be the WIP COGS account.
- Save and repeat with any remaining Items.
When finished, be sure to use steps 1 - 3 to switch QuickBooks back to Multi-user mode.
If the Items will be used on service tickets as well...
Create the following Items in FieldEdge.
- Optional: The last Item, Draw - Assembly, is not required. However if you wish to use this assembly Item on an Invoice, it will automatically add the four previously created Items to your Invoice. To create this Item, set the Type to Assembly and then add the four previously created Items.
|Item Name||Item Type||Income Account|
|Draw - Sale Positive||Non-Inventory||WIP Income|
|Draw - Sale Negative||Non-Inventory||Income|
|Draw - Cost Positive||Non-Inventory||WIP COGS|
|Draw - Cost Negative||Non-Inventory||COGS|
1. When creating an Invoice, use any parts you normally add. (not the Items created in our previous set up, those will come later in this tutorial).
2. After you have added all the Items, click on the View Details button to see the total costs associated with the Invoice. Write this amount down.
3. Add the Draw Items you created in the "Set up" section of this tutorial. You can add the Draw Assembly Item or you can manually add the other four Draw Items. Apply the following changes.
- Change the amount of the Draw - Sales Positive to be the full amount of the Invoice.
- Change amount of the Draw - Sales Negative to be the same number as the Item above but a negative value.
- Change the amount of the Draw - Cost Positive to be the full cost of the Invoice.
- Change the amount of the Draw - Cost Negative to be the same number as the above but a negative value.
- Uncheck the Print box for all lines added in this step.
4. Save the Invoice. This will make sure the costs and prices are accurate in both FieldEdge and QuickBooks. It will also make sure the money ends up in the WIP account.