There are nine different transaction types that can be entered within the Time Cost product.

 

These types are listed as items within the Transaction Entry folder of Time Cost:

 

"Bad Debts" are for writing off client debts.

 

"Credit Notes" are client debt adjustments.

 

"Invoices" debit the client debtor ledger without a balancing entry to the client WIP ledger.

 

"Journals" are debtor ledger adjustments (such as corrections and opening balances).

 

"Receipts" are client debt payments.

 

"Expenses" or disbursements are debited to the client-job WIP ledger.

 

"Fees" credit the WIP ledger of a client and debit the Debtor ledger.

 

"Time Sheets" record employee time within the WIP ledger.

 

"Write Offs" may write off (or up) client-job time or expenses.