Page Comparison

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1. Select Microsoft Dynamics GP > Tools > Setup > Job Cost > Account Setup > Invoice Accounts.

2. Select a division from the drop-down list. 

   Note
   The invoice posting accounts are updated when you post invoices for a job assigned to this division. You must enter accounts for each division.

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

   	Option 1 - Single sales account	Option 2 - Sales account for each cost element/code
   Select 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 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 select 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

4. Enter receivables and commission accounts:
   • Accounts receivable
     The general ledger account debited when you post accounts receivable amounts for Job Cost invoices.
   • Retention accounts receivable
     The general ledger account debited when you post retention accounts receivable amounts for Job Cost invoices.
   • Commissions payable
     The general ledger account credited when you post commissions payable amounts for Job Cost invoices. Your setup selections in Receivables Management determine commission amounts.
   • Commissions expense
     The general ledger account debited when you post commissions expense amounts for Job Cost invoices.
5. Mark the Use a sales account for each bill code checkbox 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.
6. Select Save.
7. To print the Invoice Accounts report, select Print.

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