On 6/18/07, MB Software Solutions <[EMAIL PROTECTED]> wrote:
> As the application developer, do you create a
> new invoice ("0002") for the current AND past charges, or just create an
> invoice for the current charges (so that you then have 2 invoices in
> either case), or do you simply open up the existing invoice, tack on the
> current charges, and thus keep the same ("0001") invoice?
I think you are running into an issue where Generally Accepted
Accounting Practices might come into play. Here's my version, with the
usual disclaimers that I'm not a bean-counter
Items should be invoiced only once. Doing it twice is fraudulent, or
"billing the government." You can include a balance on the second
invoice, and perhaps a note that there is an overdue amount. Depending
on the terms, you may state that amount is due immediately, or even
subject to a finance charge (check out the usury laws in your locale
before slapping that on -- you can get in serious trouble.) In many
systems, you'll also need to deal with partial payments, disputed line
items, unpaid amounts, bounced payments,...
> My concern
> about having a 2nd invoice is due to my having the iPaid field in the
> invoice_header table, as I described above. 2 invoices for the same
> transactions would prove to be a problem when reconciling the payment data.
>
> How would you proceed?
In many of my applications, I provide the client with CSV, DBF or XML
data they can import into their accounting system, and they can handle
the billing, aging of A/R, refunds, discounts, penalties, adjustments
and all that stuff in a specialized application designed to handle it.
Even a small firm is usually open to importing data into Peachtree or
Quickbooks and the tax accountant is grateful to have it in an
easy-to-use form at the end of the year. As a bonus, you get
statements, general ledger, reports, etc....
Separating out sales or order/manufacturing processing from accounting
often is the best answer.
--
Ted Roche
Ted Roche & Associates, LLC
http://www.tedroche.com
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