Setting up divisions
Setting up division accounts
Setting up payroll and overhead offset accounts
Setting up revenue accounts
Setting up invoice accounts
Assigning default master cost codes
Setting up payroll and overhead offset accounts (optional)

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In this section, we will look at a sample General Ledger after payroll has been posted, in this case, through the Signature Transaction Entry window. Included is where from within the Payroll and Overhead Offset Accounts Setup window the accounts were grabbed.
After running Signature Payroll Post, the posting journal report contains account information, including GL accounts and amounts. Below is a table of the accounts and windows/areas within Signature Job Cost from which the accounts were taken.

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Setting up revenue accounts

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1. Choose an invoice posting option and the appropriate general ledger posting accounts based on the invoice posting option you selected:

2. 
   

   	Option 1 - Single sales account	Option 2 - Sales account for each cost element/code
   Choose this option if...	...you use the percentage-of-completion or completed contract revenue recognition method. The single sales account method designates that one general ledger account updates when you post Job Cost invoices to the selected division. When an invoice is posted with this option, the typical general ledger entry debits an accounts receivable account and credits a progress billings account.	...you want to update designated sales posting accounts assigned to each cost element when you post Job Cost invoices to the selected division. Typically, you use this method to recognize revenue when issuing invoices. This option allows you to compare amounts billed for each cost element. For example, if you want to know the total amount of labor sales, all labor sales amounts are posted to one general ledger account. Each sale from a cost element posts to its specific account. Note: You cannot choose option 2 if you are using the percentage-of-completion revenue recognition method.
   Sales account to use when posting Job Cost invoices	Progress Billings Enter the general ledger account credited when invoices are posted for jobs. This is for percentage-of-completion or closed jobs journal entries. This account is the offset to the progress billings account and should be the same as the account entered in the Division Accounts Setup window (Microsoft Dynamics GP > Tools > Setup > Job Cost > Account Setup > Division Accounts). You can enter one sales account if you recognize revenue when invoices post and you want all sales amounts posted to the same general ledger account.	Cost Element Sales Accounts Enter a sales account for each cost element. These accounts are updated for each cost element affected by an invoice:

   
   

   • Labor
   • Materials/Equip
   • User-Defined 2
   • Subcontractors
   • Travel
   • Startup
   • Other
   • User-Defined 7
   • User-Defined 8|
3. Enter receivables and commission accounts:
   • Accounts receivableThe general ledger account debited when you post accounts receivable amounts for Job Cost invoices.
   • Retention accounts receivableThe general ledger account debited when you post retention accounts receivable amounts for Job Cost invoices.
   • Commissions payableThe general ledger account credited when you post commissions payable amounts for Job Cost invoices. Your setup selections in Receivables Management determine commission amounts.
   • Commissions expenseThe general ledger account debited when you post commissions expense amounts for Job Cost invoices.
4. Mark the Use a sales account for each bill code check box if you want to use a sales account for each bill code at the job level and during job invoice entry. You cannot use this option if there are unposted invoices.
5. Choose Save.
6. To print the Invoice Accounts report, choose Print.

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