We’re about to start a construction project for a third party. We’ll be billing them all construction costs (without mark up) plus a management fee. We will be providing them Cost Reports on a monthly basis and need the management fee to show as a cost of the project.
All of our other projects have been in house so we record the management fee twice - once to the developer as revenue (through an invoice) and then a second time as WIP to the property company (through a bill). Only the WIP gets the project details. Since this is an external client we don’t have access to that second entry.
It “feels” like I should be able to put the project related info on the AR line of the invoice so that it will be picked up on the cost reports. But, that doesn't seem to work.
I can’t believe we’re the only builder using Acumatica for external clients.
I’ve also thought about recording the invoice with three lines so that it looks like this
dr A/R
cr fee revenue, proj x
dr COGS, Proj external, task, cost code
cr COGS, proj x
(where proj x is a dummy project used to record non-project activity)
This “feels” like it would work but the resulting invoice would be messy for the client.
The final options seems to be to record the invoice as a single line without project info and then create a PM entry for the Cost Reports.
If just feels crazy that this should be a two step process.
I hope I’m missing something in our set up.