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Adjusting a bill

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Joseph Nierenberg Posted: Fri, Apr 23 2010 10:57 AM

I think this has been covered before, but I cannot find the thread.  In TM/BM (v.10), my billing records for a client add up to $X.  It's too large a bill, so I want to reduce it by $Y.  How can I do that so the invoice conveys the original amount ($X), the amount of my adjustment (a negative number), and the final amount ($Y)?  I'd appreciate any insight.

Joseph Nierenberg
Nierenberg Employment Law, PLLC
Consulting – Litigation – Training
Minneapolis, Minnesota
www.nierenberg.com

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You can add a credit by going to add a transaction and choosing a type of credit. This credit will show on the next bill you create, assuming your bill profile shows AR transactions.

Adjustments can also be made in the billing preferences - action items, but I don't think that will show up the way you want.

 

Caren Schwartz (Moderator/CIC)

35-45 Consulting

& Time & Cents Consultants, LLC

Southport, CT

www.3545consulting.com / www.timeandcents.com

203-254-7736

Software for Managing Time, Money & Information

Time Matters, Billing Matters, Billing Matters Plus, PC Law CIC

 

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Posts 41
Jwyatt replied on Mon, Apr 26 2010 9:17 AM

We use Adjustments to the billing items for this purpose.  We choose any billing item which will appear on the bill and make a negative adjustment to it in the amount you want to show on the final bill (The adjustment will show at the bottom of the bill).  In order for the adjustment to show at the bottom of the bill you have to make sure the Billing Profile being used is set up accordingly. Select the proper Billing Profile and go to the Totals and Summaries tab.  We uncheck the first box and check the second (Subtotal prior to printing adjustments).  Once the Billing Profile is set you don't have to do this each time.

This works quickly for us.  You can also go to the Labels tab and change the description that goes with the adjustment, i.e. you can call it Courtesy Discount instead of Adjustment to Fees.

If you are strongly concerned how these adjustments or credits affect Reports you should test.  I could imagine some scenarios where adjustments would affect the reports differently than a credit.  For instance, if you were lowering a bill that had two time keepers work within it by $1,000 would it effect both equally or put the adjustment all on one?

Jeff Wyatt
Abilene TX

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What would be the GL effect of using a "Credit" entry versus a percentage write down or adjustment as described above? 

 

John Lorentz

St. Paul, MN

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In large part that will depend on whether you are on a cash basis or an accrual basis. On a cash basis there should be no impact as nothing is recognized until payment is received. 

 

Caren Schwartz (Moderator/CIC)

35-45 Consulting

& Time & Cents Consultants, LLC

Southport, CT

www.3545consulting.com / www.timeandcents.com

203-254-7736

Software for Managing Time, Money & Information

Time Matters, Billing Matters, Billing Matters Plus, PC Law CIC

 

Top 100 Contributor
Posts 38

An adjustment seems the way to go.  It modifies the amount that the client sees as being billed; a credit modifies the amount owing after being billed.  I like the default label for adjustments (something like "Adjustment to fees"), but I would also like to add to the bill the description of the adjustment.  When one makes an adjustment, there is a place for a description, where I could write something like, "Courtesy discount."  I cannot find a way to add that field to the bill, however.  I've gone through the different areas on a bill layout (near the top, such as "fees," "expenses," "AR," etc.), but cannot find the place where fees are subtotaled, which is where the adjustment appears.  Any ideas?

Joseph Nierenberg
Nierenberg Employment Law, PLLC
Consulting – Litigation – Training
Minneapolis, Minnesota
www.nierenberg.com

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