Carry sales invoices and revenue entries forward

In addition to registering project revenues by entering project invoices, you can also enter sales invoices in Profit Financial and carry them forward to the project administration. This is for instance the case if you use a different invoicing application than Profit. You can also carry forward to a project revenues that are not based on an invoice.

Note: 

  • It is also possible to carry forward purchase invoices or costs from Profit Financieel to Profit Projecten.
  • You cannot create a project entry on the basis of a journal entry line originating from Profit Projecten. This means that if you have carried forward project invoices to Profit Financieel, you cannot change these invoices to project entries in Profit Financieel.
  • Financial project entries also have to be approved and reported ready.

Contents

Ledger account master data

If you want to carry sales invoices or revenues forward from the financial administration, you must first specify the ledger accounts for which this carrying forward is allowed or even mandatory.

To set a ledger account:

  1. Go to: Financial / Ledger / Ledger account.
  2. Select the ledger account in question.
  3. Click on: Properties.
  4. Go to the tab: Extra.
  5. Select the way in which you want to carry items forward to Profit Projecten.

    In the Carry projects forward field, select the way in which you want to carry items forward. You have the following options:

    • No project entry (N)

      If you select this option, you cannot carry forward any entries from the ledger account in question to a project's actual costing.

    • Project entry allowed (T)

      If you select this option, you can carry entries forward from the ledger account in question to a project's actual costing. However, it is not mandatory to carry entries forward to a project for the ledger account in question.

    • Project entry mandatory (V)

      If you select this option, you are obliged to carry entries forward from the ledger account in question to a project's actual costing.

  6. Click on: OK.

Enter a sales invoice

To enter a sales invoice:

  1. Go to: Financial / Enter / Journal.
  2. Select the sales journal in which you want to enter the sales invoice.
  3. Next, select the period in which you want to enter the sales invoice.
  4. Click on: OK.
  5. Enter the first entry line.

    Select the debtor and, if necessary change the entry description. Enter the complete invoice amount, including VAT (if applicable).

  6. Complete the next entry line.

    Select the revenue account if this is not suggested automatically, select the VAT code if this is not suggested automatically and, if necessary, change the amount to be carried forward.

  7. Now complete the entry.
  8. Click on: Finish.

    If you post an entry to a ledger account for which project entries have been set to mandatory, Profit automatically opens an entry window with project data. If you post an entry to a ledger account for which project entries are allowed, you are now asked if you want to carry the entries forward to Projects. If you click on Yes, you can carry the entries forward to one or more projects or work types.

  9. Complete the fields.

    Select the project the entry applies to.

    Select the work type the revenues refer to.

    Profit copies the description of the sales invoice to Description. If necessary, enter a different description. The descriptions in the sales invoice and the one in the project entry are not linked. You can therefore use two different descriptions.

    Note: 

    You cannot complete the Charge, Allowance % and Sales amount fields in the window. These fields are intended for charging costs on a project invoice, but this is not relevant for sales invoices.

  10. Click on: OK.

    You can now post another entry.

    Note: 

    When you save the financial entries in the ledger account, the revenue lines are added in Profit Projecten as well. It is not possible to change entries after they have been carried forward to a project. Therefore, check the entries before you save them. When creating the revenue lines, Profit Projecten uses the period table that you have specified in the Profit Projecten settings. This period table may deviate from the period classification that is used in Profit Financieel.

Enter revenues

Revenues that are not entered using a sales invoice, can be carried forward to a project, for example using a bank journal or a general journal.

To enter revenues:

  1. Go to: Financial / Enter / Journal.
  2. Select the journal in which you want to enter the revenues.
  3. Next, select the period in which you want to enter the revenues.
  4. Click on: OK.
  5. Then, post the entry or entries to the journal.

If the entry specifies a ledger account for which you have indicated that carrying forward to a project is allowed or mandatory, you will be able to enter the project data after completing the entry. This is done in the same way as when entering sales invoices.

Directly to

  1. Project invoicing
  2. Configure project invoicing
  3. Approve the actual costing and report it ready
  4. Instalments
  5. Configure a 'G'-account
  6. Automatically generate project invoices
  7. Manually add project invoices
  8. Instalment invoicing
  9. Issue project invoices using the Output action
  10. Issue project invoices using the Print action
  11. E-mail a project invoice
  12. Change project invoices
  13. Credit a project invoice
  14. Collectively delete project invoices
  15. Journalise project invoices
  16. View a project invoice in InSite
  17. Distribute the project invoice turnover across multiple periods
  18. Carry sales invoices and revenue entries forward