Fixed Price Entry

Fixed price invoice amounts are entered on the Fixed Price Entry page which is located under Contract Invoicing. In preparation for fixed price entries, assign a fixed price place holder account and a fixed price posting item. A QuickBooks invoice requires each line be posted with an item, for this reason setup of a fixed price item and its associated fixed price account are required prior to sending invoices to QuickBooks. See Account Allocations for details.

If a contract has been assigned an invoice schedule, the scheduled invoice dates are displayed and only the amount is entered. The schedule amount can be entered on an individual row or applied to a group of rows. To include an amount on multiple rows, check each row and enter the amount in the “update multiple amounts” section.

If the contract does not follow an invoice schedule, select the invoice date followed by the amount to be invoiced.

After a period has been processed, the fixed price entry rows will be updated to reflect the invoice number and amount invoiced. On this page the invoice number and amount are for reference only.

To change a fixed price invoice amount, filter by contract or scroll to the row for the contract and date requiring the adjustment. To complete the update, change the value in the Scheduled Amount column. If the adjusted entry has already been invoiced, the processing schedule will automatically be updated to display a “changed” status message to identify periods that require reprocessing from Step 2 in order to complete the change.

To remove a fixed price invoice, click the red trash can icon located at the end of the row. If the deleted entry has been invoiced, the processing schedule will automatically be updated to display a “changed” status message to identify periods that require reprocessing from Step 2 in order to complete the removal.