The Enter Opening Balance screen allows you to specify an opening balance in Web Suite for an existing or old project in a faster and easier way. It provides an alternative to creating a historical invoice from the Manual Invoice screen. When you specify parameters such as opening balance date, service amounts, payments, etc. for the historical data, Web Suite creates a manual invoice in the background, which can be edited if the invoice is not posted. To access this screen, click Opening Balance on the Project-History screen.
As Of:
This is the 'up to' date of the historical data that is being entered here. It represents the date of the opening balance. By default, today's date is pre-filled but you can change it to any other date using the drop-down calendar.
Services Billed:
This is the total service amount (labor totals) for all the historical data. It represents the total amount billed for service (activity) items.
Service Tax Billed:
This is the total service tax amount for all the historical data. It represents the sum of item taxes (Tax 1/2/3) for time entries that have been billed.
MST Billed:
This is the total main service tax amount for all the historical data. It represents the Main Service Tax (Service Amount + Service Tax Amount x Main Service Tax percentage) billed for service (activity) items.
Expenses Billed:
This is the total expense amount for all the historical data. It represents the total amount billed for expense items.
Expense Tax Billed:
This is the total expense tax amount for all the historical data. It represents the sum of item taxes (Tax 1/2/3) for expense entries that have been billed.
MET Billed:
This is the total main expense tax amount for all the historical data. It represents the Main Service Tax (Expense Amount + Expense Tax Amount x Main Expense Tax percentage) billed for expense items.
Discounts Applied:
This is the total discount amount for all the historical data. It represents the discount applied on invoices, reducing the total bill amount after taxes.
Paid:
This is the total payment amount for all the historical data. It represents the amount paid on invoices.
Retainer Received:
This is the total retainer amount received by clients for all the historical data. It equates to Retainer Applied + Retainer Available.
Retainer Applied:
This is the total retainer amount applied on invoices for all the historical data. It equates to Retainer Received - Retainer Available.
Enter Opening Balance Button Panel
Help:
Opens the Web Suite Help in the Enter Opening Balance section.
Clear:
Clears the data entered in this screen and resets the opening balances.
Preview and Print:
This is a one-step command that does two functions simultaneously. It processes the historical information as a manual invoice and prints it as well.
Process:
After entering the historical data in the screen, this button should be clicked to generate a manual invoice. The invoice is not printed in this step; it can be printed from the Manual Invoice screen.
Close:
Closes the screen.