Invoice > Invoice Types

In WorkBook you can create different types of invoices. Each invoice type acts in a different way financially, so it is important you select the correct one at invoice creation.

1. INVOICE ON ACCOUNT

Invoice on account is used for jobs that require multiple invoices. The job is kept open after the initial invoice is created, allowing for additional invoices and expenditures to be added on the job. Its most common use is when billing a percentage of a price quote, or billing to project milestones.

2. FINAL INVOICE

A final invoice is usually used when creating the last invoice on the job. There is a company setting that automatically closes the job, once the final invoice is finalised. However, this can be switched off, and job closure can be done manually.

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3. CREDIT NOTE

A credit note is used to credit a previously issued invoice. This can be for the full amount or for a partial amount, depending on what needs to be credited.

4. PARTIAL INVOICE

A partial invoice is most commonly used when invoicing time and expenditures on jobs. In order to create a partial invoice, job expenditures need to be financially posted first.

Often financial teams will be involved in partial invoicing, as this invoice type recognises revenue directly via the invoice. Once a partial invoice is posted, job expenditures are posted straight to the general ledger, reducing work in progress (WIP) accounts.

5. ELIMINATION OF PARTIAL INVOICE

The invoice type elimination of partial invoice is only available on jobs that contain partial invoices. It is used when you need to reverse the revenue previously recognised by a partial invoice. Essentially, it’s a credit note for partial invoices.

Often financial teams will be involved in the elimination of a partial invoice.

6. CONSOLIDATED INVOICE

A consolidated invoice is used when you want to invoice multiple jobs on one invoice and still keep the invoice values on the individual jobs for reporting purposes.

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