Active:
Clients, vendors, and staff members are active or inactive depending
on their status. Active clients may have recent billings, but the it's
an agency decision. Inactive clients can be prospective new clients
or old clients. Lists, reports, and mailing labels can be printed for
active, inactive, or both kinds of clients, vendors, and staff members.
Aging
Periods: Aging periods define when an invoice amount is past
due. Default aging periods are 30, 60, and 90 days, but can be easily
edited at any time. Once changed, choosing Client Account Aging from
Snapshots will update your receivables and summarize the outstanding
balances in the new periods.
Average
Pay: Clients & Profits counts the
number days a client waits to pay the entire invoice. This count is
figured each time you age your invoices, and is the invoice date less
the payment date.
Bank
Balance: A running total of deposits (through
Client Payments and the Checkbook) and withdrawals (from the Checkbook).
The bank balance is calculated whenever a payment is made or a check
is written and posted.
Billable:
The amount for which you are billing a cost. Billable amounts are also
called gross amounts. They are based on markups or billing rates on
time sheets. The billable is the amount that comes up automatically
for client invoices for each task on a job. It is just a guideline,
not what necessarily of client invoices posted for a job ticket. The
billable is continuously calculated as the total billable amount for
a job task less whatever has already been billed for that same job task.
Billing
Preview: An unposted client invoice. Unposted
invoices can be printed as part of the billing review process. These
unposted invoices, called Billing Previews, let account executives see
what looks like the final invoice, including sales tax. But since the
invoices aren't posted, they can be easily changed. The words "billing
preview" appear at the top of unposted invoices to prevent them from
being accidently sent to clients.
Budget:
Budget is the amount which the agency will pay to complete a task. It
the cost before markups. This amount does not appear on the printed
Estimate form, and is a net amount.
cGL:
Credit general ledger account.
Closed Jobs:
Jobs should be closed when the work is completed, all costs have been
accounted for, and all billings are posted. Checking the Closed box
closes a job, while unchecking the box opens the job. Closed jobs get
a status automatically from Preferences, which can be changed. Job lists
can be printed for closed jobs by entering the closed job status when
printing reports.
Default:
A standard setting or entry that is added
automatically.
Deposits:
All clients make payments against specific invoices. Any deposit or
pre-payment must be applied to an invoice created for the deposit amount.
For deposits against a job, add an advanced billing invoice using that
job number and a task. Once posted, the deposit can be applied as a
payment to the job's future invoices.
dGL:
Debit general ledger account.
Discount
Date: Date on which an early-payment discount
is earned.
Due Date: Date
on which a vendor invoice is consider due, based on the invoice date
and the vendor's terms.
Enter
key: Pressing the Enter key confirms an
action, or saves your work.
Estimate:
The actual amount the client will (or may) pay for the job ticket.
This amount appears on the printed Estimate form, and should include
all markups and commissions.
Expenses: In-house expenses for materials
like art boards, tolls, and parking should be added into the Expenses
window. In-house expenses paid by check should be added into the Checkbook.
Finance
charges: Clients & Profits does not
automatically add finance charges to overdue client invoices. But it
will calculate and print the finance charge amounts on the Client Account
Aging report. Each client can have its own finance charge rate; enter
it into the client Notes window.
Finished:
A completed task. Finished tasks do not appear on Traffic reports.
Tasks can be marked as finished from job tickets or from time sheets.
Freelancer:
Anyone who charges time through time sheets
but bills with an accounts payable invoice. They should be added as
both a vendor and a resource.
Group:
Groups are user-defined numbers into which job tasks are categorized.
Job tasks can be categorized into groups on estimates and invoices.
Groups are sorted numerically. The group number never appears on the
printed estimate or invoice; instead, the group description (such as
fees or expenses) appears. Tasks are sub-totaled by group. Groups are
optional. You can have many different groups, too. On job tasks, leaving
the group number empty keeps the tasks from sub-totaling.
History:
Clients & Profitsremembers running
monthly activity for clients, vendors, and resources. Monthly client
billings are updated during posting accounts receivable. Monthly vendor
purchases are updated while posting accounts payable. And monthly billable
dollars for resources are updated while posting time sheets. These monthly
amounts are compared against last year's figures on the Client, Vendor,
and Resource History window, which is opened from the Work menu.
Initials:
Clients & Profits uses initials to
identify who added any record (like a job ticket, a client, or an invoice)
as well as the date and time. Duplicate initials are not allowed, but
are not checked.
Job
Number:Clients & Profits uses a unique
job number to identify a job ticket and everything related to it. A
job number may include any ten letters, numbers, or both. Jobs are numbered
automatically--;optionally by client--;but may have custom job numbers.
Job Type: A
customizable label that classifies similar jobs, such as print, media,
brochure, can have spec sheets that contain standard information about
a type of job, including estimate disclaimers and a job template (i.e.,
a preset collection of tasks).
Last
Work: The date of the last time sheet
posted for a job task.
Lead:
The number of days needed to complete
a task. It is used, together with the due date, to select job tasks
on the Traffic reports.
Message:
Two lines of customizable, temporary text that appears at the bottom
of Estimates, Invoices, Statements, and Purchase Orders.
Overhead:
Any cost that is not charged directly to a job. To skip job costing
when adding an accounts payable invoice, time sheet, or cash disbursement
for overhead, enter NONE in place of a job number.
Pay
date: The date on which a vendor invoice
is scheduled to be paid, regardless of terms.
Posting:
Posting takes transactions and makes them permanent. Since jobs, the
general ledger, and clients and vendors aren't updated until posting,
transactions can be entered as they happen without much concern over
accuracy.
Preferences:
Clients & Profits can be customized to your liking through "preferences."
Preferences include client aging periods, default general ledger accounts,
and several miscellaneous settings. To change preferences, choose Preferences
from the Setup menu, make your changes, then click OK. New preferences
take effect immediately.
Preferred
Tasks: Each vendor and resource can have
a preferred task indicating the usual task one performs. For example,
if vendor CENTR is a typesetter, and almost always provides type, it
should have a preferred task of TYPE. The preferred task is a time-saver,
since it is entered by default on purchase orders, accounts payable,
and time sheets. Preferred task is entered on mailing label window for
vendors, and on the Rates window for resources.
Profitability:
The gross profit (i.e., gross margin) calculated as: Job Billing - Job
Costs. Profitability reports summarize job profitability from three
perspectives: job, task, client, and type. Each report shows total cost,
billings, and gross profit margin. The "job" report lists jobs numerically.
The "task" report lists tasks alphabetically--;for all jobs to date.
The "client" report summarizes all job tasks by client for easy comparison
from client to client. "Type" shows profitability by job type.
Project:
Job tickets can have a "project" name or number. A project can indicate
several separate jobs for one campaign, or identify like jobs (such
as "Print" or "Media"). Reports, such as job summaries, can be batch
printed for a selected project. Projects can be set up by client. The
word "project" is customizable in the Names window in Preferences.
Proof List:
A summary unposting records for error-checking prior to posting. The
proof list is printed automatically during batch posting.
Report
Heading: The titles of the Estimate and
Invoice forms can be changed temporarily, but only for the reports printed.
For example, the word "estimate" can be changed to "authorization" or
"quotation" as needed.
Revision:
The number of times and estimate was edited on a job ticket. All new
estimates has a "0" revision number, which prints on the Estimate as
original. Once the user has started the first revision, Clients &
Profits will count the number of times the estimate is revised. When
you print out revised Estimates, the current revision number prints
too.
Sales
Tax: Clients & Profits can add two
different taxes to your client invoices. Tax rates are set in Agency
Information with a description and a default general ledger accounts.
Each client, as well as job tasks, can have two special tax rates. Tax
rates are passed from the Task Table to the Job Ticket to the Invoice
automatically, but can be changed at any point along the way. Sales
tax isn't calculated until an invoice is posted.
Scheduling
Task: Job tasks checked as scheduling
only do not appear on Estimates and do not get billed automatically.
(However, they can be billed if desired, but Clients & Profits will
alert you that this task is internal.) Internal tasks should be any
task that is no chargeable to the client, such as Account Service.
Standard
Client Terms: These terms (such as Net
30) are standard terms entered automatically to every client when they
are added. A client's terms can be edited at any time by entering new
terms over the old.
Standard
Markup: A default setting for your standard
agency percentage markup on goods and services purchased from vendors.
The standard, or default, markup is entered automatically to every new
vendor when adding, but can be changed.
Status:
Job status indicates something about the job's progress, based on a
number from 1-999. Status codes are completely customizable. Define
your own terms.
Suspense:
A general ledger account used to track unallocated amounts. During posting,
Clients & Profits checks your debit and credit GL numbers against
the Chart of Accounts. If found, the amount is added to the right account.
However, if an account number is not found, the amount is added to Suspense.
Any suspense amount should be manually adjusted with a journal entry,
usually at the end of the month. The suspense account number, 999998,
is reserved and can't be changed or deleted.
Tab
key: Pressing Tab moves forward one field
to the next. Pressing the Shift key and pressing Tab moves backwards
to the previous field.
Task:
A task tracks estimate, budget, cost, committed, and billing amounts--;as
well as billable and non-billable hours. Each task supports two taxable
rates. A job ticket can have from one to hundreds tasks (10-20 tasks
are typical). Each task can include several lines of notes, which may
or may not appear on estimates and invoices. Tasks remember the last
date worked from time sheets. Tasks can be grouped on estimates and
invoices, then sorted. A task's income and expense settings--;the dGL
and cGL--;are added to vendor and client invoices automatically.
Template:
A user-defined set of job tasks that saves time when adding routine
job tickets. Templates are part of the job type spec sheet. You can
create many spec sheets, each with its own template. Templates can't
be applied to existing jobs, only new jobs.
Year-to-date
net income: A general ledger account used
to track net income. Net income is calculated while the financial reports
are printing, and is the difference between your revenue and expenses.
The year-to-date profit and loss account number, 999999, is reserved
and can't be changed or deleted.
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