Help for MyCorbu Architectural Bookkeeping
You can track your Project Invoices in MyCorbu. You do this by entering the Invoice line item related to each Phase of your Project as a transaction. The Receivables report shows the status of each unpaid transaction so that you can manage your outstanding invoices.
MyCorbu supports your invoicing process, but DOES NOT create invoices for you. MyCorbu shows you what your invoice might contain and you insert that information into your preferred format for your invoices.
My research indicates that it is a fool’s errand to design invoices for architects. However, we have a downloadable template that you can modify.
The Invoicing Process in MyCorbu works by collecting information about your Project Fees for each Project-Phase. When it is time to prepare an invoice for the Project, the Fee-related information is presented in a format suitable for incorporating into an invoice.
Most invoices are fundamentally either lump sum or hourly rate, Your invoice template is the link between your data and the style of the contract that you are working under.
It is important that you enter Fee information with the upcoming invoices in mind. You can find more about how Fees work in MyCorbu here.
Creating An Invoice
Creating an Invoice from your Fee data in MyCorbu is done by going to the Bookkeeping page and selecting the INCOME button “Add Invoice”.
Then select the Project for which you want to create invoice line items from the table. Invoice line items are the fee due per Project-Phase.
Next a page opens which shows an invoice-oriented view of the Project’s Fees. Here is what the whole page looks like. This page is composed of five sections. Each section will be reviewed below.
The first section is a table of Fees for the selected Project.
The fee for each Project-Phase is shown with the 'calculated percent complete' (A) (Calculated %) based on the total hours that staff have entered and the budget that you have set for the Project-Phase. This is an inference based on how much of the design budget has been spent. Time entries since the end of the invoice period are INCLUDED, so take that into consideration.
Next (B) is the last reported percent complete (Reported %). This represents your value judgement. Click in the cell to update the Reported %. This percent determines the "Earned JTD" amount(C). The Earned JTD represents the total amount of the fee earned so far through this invoice period.
The Invoiced JTD (D) is an equation that sums all previous invoice line items created for this Project-Phase.
The final column (E) shows the Fee Due based primarily on the percentage that you entered in Reported %. However it also assumes that all the previous invoices have been entered. The equation is "Earned JTD" minus "Invoiced JTD".
Below the Fees Table is the form for adding an Invoice line item. You should be able to keep the Fees table in view while you complete a form for each Project-Phase that shows a positive amount due (skip any Project-Phase with a Fee Due = $0.00).
In the Invoice Form:
Your Invoices may show more than just the amounts of the Project-Phase Fees that are due. Below the Add INVOICE Line Item form there are three additional tables that you might use to prepare an invoice.
If it is your practice to include a breakdown of time spent on a Project, you can filter this Time Entries table to show time during the Invoice Period. Note the two date filters used to isolate November 2019. The table will show you each time entry per Project-Phase, per individual, and per date. The table shows the amount to be invoiced per date with subtotals for each individual and Project-Phase. The amounts are calculated using the hours entered times the Custom Billing Rate for the individual for this Project (or by default the Standard Billing Rate if custom rates are not set). There is a grand total, too. You can export the filtered table to further edit it. Or you can print the page as a PDF and crop out the part you want to use.
The Mileage table shows all entries that staff have entered for mileage reimbursement. By entering the same INV NO on each mileage line item that you used for Fees above these Mileage entries will be grouped together in the Receivables report with the fees. This gives you an ‘abstract’ of what the invoice contains.
Similar to Mileage the Reimbursable Expenses table shows all the expenses that you may want to include in your invoice. Add the INV NO to each item that you plan to include.
You may find that this process of retrieving invoice data lends itself to completing you invoice template simultaneously with your review. But if you prefer to see all the decisions that you have made summarized, then the next step is to go to the Receivables report found by going to the Bookkeeping page > Receivables button.
In the Receivables table you will find all the items for each invoice grouped by Invoice Number and by Type of Transaction. This should make it easy to transcribe the line items (or summarized data) of an invoice for inclusion into your Invoice Template.
It is critical that each invoice has a unique Invoice Number*.
Using the Receivables table makes it easy to show which line items have been included in the Invoice that you are preparing by marking them 'Invoiced? = Yes" as you add them.
* The recommended Invoice Numbering scheme is to use a combination of a ‘Project ID’ and date-based number. For example, MHA-1911, which would stand for the Meyer House Addition invoice for work during November of 2019. This scheme makes it easy to know what the current invoice number should be. It also conveys more information than a sequential number months later. Consider using this system in MyCorbu even if you use something else on the official invoice.
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