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This view shows the summary movement and the balance figures by client and period covering both the WIP and fees information for the latest closed period.
The fees balance is VAT inclusive.
If the entire practice is on cash accounting and VAT is accurately entered on each receipt then, in principle, the ex VAT balance can be deduced by apportioning the unmatched amount on each posting according to the ratio of VAT, and then aggregating the postings
If all receipts are immediately matched when posted then the previous paragraph can be applied to just the invoices
Views that combine fees and WIP information on a period basis only make sense if the periods on the time and fees ledger are aligned (for example, there are the same number of periods per year on the two ledgers and the start and end dates of the periods on the two ledgers are the same)
For the variants of such views that are restricted by period (for example, current, latest closed and so on) it is the TIME ledger period status that is used. Thus, if the time ledger period has been closed, but the corresponding fees ledger one has not, the information presented will be the current information for that fees period.
You should also note that the information is associated with periods according to the individual postings on the ledgers. For example, if you post an invoice to period 2 on the fees ledger, but it actually writes out to period 3 on the time ledger, the fees invoicing details will appear under period 2 and the billed totals for WIP under period 3.
There are several ways that this can happen, for example:
Because the time ledger period was closed and the write out had to be redirected to a later period
Because the fees ledger options say to write out on the basis of the invoice date, and the date does not lie within the actual fees period
Because the fees ledger options say to always write out to the current time ledger period irrespective of the fees ledger period or invoice date
If there is period alignment and most fee processing is straight forwards then it will normally be the case that the WIPBilled and InvoicedExVAT figures will be the same. This is not necessarily always true however. Obvious circumstances that can give rise to a difference are:
If there is a bill, or part of a bill that does not relate to WIP, and therefore does not write any out.
If a bill is posted directly to the time ledger, but is either not posted to the fees ledger, or is posted differently.
This view is suitable for any user wanting access to the time and fees totals.
ClientObjectType |
The object type of the client job that the balance is for. (Person, Business or Trust). |
ClientInternalId |
The internal identifier of the client job that the balance is for. |
Year |
The year that the figures apply to (see notes above on the correspondence of periods on the time and fees ledgers). |
Period |
The period within the year that the figures apply to (see notes above on correspondence of periods on the time and fees ledgers). |
InvoicedExVat |
The invoiced total on the fees ledger with VAT elements removed. This is credit negative under fees ledger conventions - i.e. an invoice is positive. |
Invoiced |
The invoiced total on the fees ledger inclusive of VAT. This is credit negative under fees ledger conventions - i.e. an invoice is positive. |
CreditNotesExVat |
The credit note total on the fees ledger with VAT elements removed. This is credit negative under fees ledger conventions - i.e. a credit note is negative. |
CreditNotes |
The credit note total on the fees ledger inclusive of VAT. This is credit negative under fees ledger conventions - i.e. a credit note is negative. |
Cash |
Net cash flow on the fees account in the period. This is credit negative, so that a receipt appears negative. There is no VAT information for receipts since it is not guaranteed that VAT information will be entered on posting. |
OtherFees |
This column totals any other postings made to the fees account in the period (credit negative). Examples of such postings are write offs and explicitly posted opening balances. |
WIPAdded |
The amount of WIP added during the period, credit negative (outstanding WIP appears positive). |
WIPWrittenOut |
The net amount of WIP written out by billing during the period, credit negative (outstanding WIP appears positive so billing (write out) is normally negative). |
WIPWrittenOff |
The net amount of WIP written off during the period, credit negative (outstanding WIP appears positive so write offs are normally negative). |
WIPAdjusted |
The total of other adjustments to WIP during the period, credit negative (outstanding WIP appears positive). Examples of such adjustments are carried forwards over or under recoveries or over under recovery adjustments arising from credit notes. |
WIPBilled |
The billed amount logged against the time ledger for this period. This is ex VAT and reflects the total billed amount logged on time ledger instructions for that period (irrespective of how the actual WIP write out is split across periods). The sign convention is that a normal bill posts as a positive amount to this figure. See notes above with respect to the correspondence of this amount with the ex VAT invoiced amount from the fees ledger. |
WIPCreditNote |
The credit note amount logged against the time ledger for this period. This is ex VAT and reflects the total credit note amount logged on time ledger instructions for that period (irrespective of how the actual WIP adjustmen is split across periods). The sign convention is that a normal credit note posts as a negative amount to this figure. |
FeesBalance |
The balance on the fees ledger as at the end of the period (credit negative). This is a VAT inclusive balance (see notes). |
WIPBalance |
The balance on the time ledger as at the end of the period (credit negative). |
This view is directly inherited by the following views: