September 2012

We are pleased to advise that AccountAbility will be upgraded with new features and enhancements at 7pm AEST on Friday September 21.  The system will be unavailable between 7pm and 7.30pm whilst the upgrade is carried out.

The main upgrades are as follows;


In the Job detail page, click the ‘Transactions’ tab. This loads a page summarising the Estimate, Billing and Cost information, grouped by Task Type. Click on a Task Type to ‘drill down’ to see the transactions for that Task Type. Click on the Transaction Type link to open the detail page

for the transaction. For example if you want to see more information about an Estimate entry on the job – click on its’ transaction type link to open the Estimate page.


This function allows you to schedule the date(s) that you want an estimate to be invoiced. In the Estimate detail page, click the hyperlink ‘Scheduled Invoices’ at the top of the page. You can assign here the date, or dates and percentages of the Estimate to be invoiced. For example if

you want 50% invoiced on 30/11/12 and 50% invoiced on 31/12/12 – then create two lines with that information.

You can run a report on all scheduled invoices from the Estimates browse – click on the hyperlink ‘Scheduled Invoices Report.

In order to quickly create all invoices for estimates that have been ‘scheduled for invoicing’ – go to Accounting / Receivables / Production Invoices / Invoice Multiple Estimates. Check the box ‘Select Scheduled Invoices’ – enter the range of scheduled dates and click ‘Search’. The system

will now show you all Estimates that are scheduled for invoicing in the selected date range, the % of the Estimate that is scheduled and the specific scheduled invoice date. Just tick the estimates and click ‘Create Draft’ or ‘Create Final’


This new (optional) function is designed for businesses with a need to manage deferred revenue on jobs. It is entirely separate and unrelated to the ‘Scheduled Invoicing’ function above.

We do not recommend use of this function to customers unless they fully understand the accounting implications arising from the function – and strongly suggest customers who use the function regularly review the content and balance of the Deferred Revenue balances arising from it.

By default, AccountAbility recognises revenue in the month of invoicing. This new function allows you to “defer” revenue, where you want revenue to be recognised according to a specific timing schedule rather than when it is invoiced. Let’s explain that with an example.

Say we have created an Estimate for $50,000 in total, where $30,000 of that estimate is “revenue” (i.e. the charges for Time/Internals/Mark Ups) total $30,000. Now let’s say we are going to bill the Estimate 50% in October and 50% in January. By default, the system would then take up

50% of the revenue ($15,000) in October and the balance of $15,000 in January (i.e. in the months they invoices are dated)

But let’s say the work on the job is going to occur differently to that – say we are going to do 40% of the work in October, 20% in November, 20% in December and 20% in January, and we want to recognise revenue according to that work schedule rather than when the estimate is


To manage this, go to Accounting / General Ledger / Deferred Revenue / Create a new Deferred Revenue. Select the Job number and the Estimate, then add lines with the dates and percentages that you want to recognise the revenue (e.g. 31/10/12 - 40%, 30/11/12 - 20%, 31/12/12 -

20% and 31/1/13 - 20%.) When you have that all correct, click “Approve” – the system will create 4 journal entries, one into each of the months/dates you have entered. These entries will Debit your Deferred Revenue G/L account and Credit the standard Revenue accounts for the

nominated percentages.

If you have created a ‘Deferred Revenue’ entry for an Estimate, when that Estimate is invoiced, the invoice will post the revenue amounts of the Invoice as a Credit to the Deferred Revenue account (i.e. to the Balance Sheet liability account), rather than the standard Revenue accounts.

At any time you can print a detailed reconciliation of your Deferred Revenue Account – just go to ‘Search Deferred Revenue’ and click the ‘Print’ hyperlink. This report reconciles your Deferred Revenue balance by job and by month and shows the transactions which make up the balance.

You can set up your default Deferred Revenue G/L account for the system to post these entries – go to Accounting / General Ledger / General Ledger Accounts – click the ‘Posting GL Accounts’ link then click the ‘Default GL Posting Accounts’ link.

As usual, the update includes a number of improvements to the system operation and report layout and of course if you have any questions about the new features then contact us at any time.