Some reasons for making adjustments to billable amounts


The Adjustments and Already Billed fields are most valuable if it's important for you to know the amount of time actually spent on an activity, and the time actually spent is different from the time for which you plan to bill the customer.

For example, if you provide bookkeeping services for a flat monthly fee, you could use the Rate and Units fields to track the time actually spent on a client's books, then use the Adjustments fields to enter the amount you'll charge the client. This ensures that the client is billed accurately, and provides you with a means for determining the profitability of the activity.

Similarly, if you provide a firm quote to a customer, you can use the Rate and Units fields to track time actually spent, and make use the Adjustments fields to enter the amounts quoted to the customer.

You can use the Already Billed fields to track amounts paid in advance, such as deposits or retainers, to ensure that the customer isn't double-billed for your work.

This tip applies to: