Project Allowance Billing
Allowances let you do "time and materials" billing for some items, in a project that otherwise uses draw schedule or progress payment billing. Allowance billing is the way you will settle up for the difference between the original allowance amount, and the actual costs for the allowanced work.
HINT-- Allowance billing is a very useful part of the Goldenseal project billing software and project management software.
When to use Allowance Billing
Use allowance billing to "settle up" for allowanced items from an estimate. The allowance bill is for the difference between the original allowance amount and actual costs. It may be for a positive or negative amount, depending on the actual expenses for the allowanced item.
HINT-- An allowance lets you do some items as "time and materials" within a fixed-price project.
Allowance Billing Setup
Follow these steps to set up for allowance billing:
Entering Allowance Costs
After you start work, enter your costs into Goldenseal so you can bill for them. For example, to enter employee hours for a project allowance, follow these steps:
Creating Allowance Bills
To create bills for several sets of project allowances, follow these steps:
Allowance Billing Records
After you use the Allowance billing command, Goldenseal will create a Billing Record for each allowance. Choose Billing Records from the Bank menu, to see them.
The Goldenseal accounting software shows the following information in each column of an allowance billing record:
Bill-- Turn on the checkmark to bill for this item now.
Material Cost-- Goldenseal lists the total of all material costs for
Other Cost-- Goldenseal lists the total of all non-material costs
for this allowance.
Previous-- Goldenseal lists the amount of any previous allowance billing.