- 1 Create new adjustment
- 2 Modify current grid
- 3 Approve adjustment
- 4 Delete adjustment
With an adjustment you can write-up or write-off WIP value on a job.
Create new adjustment
You can create a new adjustment by clicking and make the adjustment in the popup by editing the “New WIP Value” or “New adjustment” fields, add and finish off with pressing “OK – make adjustment”. The date of the new adjustment will default to the last date of the previous month, or the job end date if this is before the last date of the previous month. The values shown are the sum of the entries on the job in sales prices until and including the adjustment date, and it is also the WIP value on the job that will be changed from this date and forward. Below is an example of a new adjustment and descriptions of the specific columns.
- – Recalculate
- – WIP value to zero
- – Reset all previous adjustments
The currency column shows which currency the amounts are shown as. If you wish to change this, you need to change your display currency.
Price quote approved
This column shows the total sum of all approved price quotes on the job.
The total expenditures is the sum of all job costs.
Setted expenditures via partial invoicing
This column shows the sum of the job costs that have been settled via partial invoices, as it will have already hit the balance sheet and is no longer included in the WIP value.
Previous adjustments total
The sum of all previous adjustments are shown in this column.
Actual WIP value
The actual WIP value sums up the columns “Total expenditures”, “Settled expenditures via partial invoicing” and “Previous adjustments total”, giving the WIP value of the job in sales prices.
New WIP value
In this column you can change the WIP value to the exact value you want the job to have. This will automatically change the “New adjustment” and “Completion rate” fields accordingly, so they reflect the change you are making.
In this column you can enter the amount that you want to write the job up or down with. This will automatically change the “New WIP value” and “Completion rate” fields accordingly, so they reflect the change you are making.
The completion rate shows the amount rate of the hours completed against the hours from the approved price quotes on the job. Changing this field will also automatically change the “New WIP value” and “New adjustment” fields accordingly to the change you are making.
Previously partially invoiced
This column shows the sum of all previous partial invoices regardless of the job costs that have been settled, and does not have any impact on the other fields.
Modify current grid
You can also modify the grid to specify the columns you needed.
You can approve adjustment by clicking .
An adjustment can be deleted as long as it has not been financially booked by clicking .