Working with Estimate to Complete fees
Practice Manager only
Estimate to Complete fees are used to raise bills for client work that has not yet been entered as WIP. They are also known as interim fees.
You can add an estimate against any client assignment (AE)/job (AO), regardless of whether it has WIP against it. The Estimate to Complete task code must be set up in the system to add these entries.
An Estimate to Complete fee is added in Stage Two of the Billing Wizard / the Bill Amounts window.
- An estimate fee when posted will credit the client's WIP ledger and leave a carry forward credit amount.
- When work commences on the job and timesheets are input to record the work done so far, these entries will debit the WIP ledger and reduce the credit balance.
- When the work is finalised, you will process a final or zero fee to absorb the estimate bill and bill out the timesheet lines to ensure employee billing productivity reports are correct.
In MYOB AE, estimates previously raised can be viewed in the Misc/Est tab of the relevant Assignment Details page.
An automatic estimate is created when a bill is raised in excess of the amount of available WIP. This is also known as overbilling.
The system alerts you when an automatic estimate is created (by adding to the AE (Automatic Estimate) column on the Bill Amounts window.
MYOB don't recommend using this facility.