How to reduce a client's WIP balance with an invoice

Introduction

This topic explains how to reduce WIP with an invoice and show the write out methods available to you.

 

How to reduce WIP with an invoice: Write Out

When you post an invoice it is the write out field that is used to reduce your client's WIP balance. For example, if you want to reduce your client's WIP balance from £800 to £500, you can enter 300 in the write out field (800 less 300 equals 500).


For more information see How to post a simple invoice

 

Write out methods

There are a number of ways of reducing your WIP balances when posting your invoice. These have been categorised into Basic, Intermediate and Advanced.

It is recommended that you follow these in turn and gradually increase your knowledge of reducing WIP.

Basic

Write out to value

Write out all

Unspecified Write out

 

Intermediate

Write out all jobs with an invoice

Clear negative WIP with an invoice

 

Advanced

Introduction to Interim invoicing

An example of using Interim invoices

How to post an Interim invoice

How to finalise Interim invoices

Interim invoices finalised incorrectly