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4
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Part 7 – Accounting
Accounting Flow Chart
This is a graphic representation of the normal flow of business through the accounting procedures to help you to
understand the ease of operation.
Field Service Invoices
Service Technicians perform
work for customers. Invoicing is
created in the field and pre-
sented to the customer; either
paid at point of service or sub-
sequently mailed to your office.
Office Service Invoices
Service Technicians perform
work for absentee customers
(property managers, rental
property owners, etc.).
Invoicing is created in the office
and either mailed or faxed to
the customers for payment.
Installation Invoices
Installation manager creates an
invoice for the installation of a
system, equipment, ductwork,
etc. (a service invoice may be
inappropriate). The invoice is
either hand delivered, faxed or
mailed to the customer.
Customer Invoices
The office creates an invoice for
an over-the-counter sale,
maintenance agreement, etc.
The invoice is either paid at
point of sale or otherwise
transmitted to the customer for
payment.
All of the invoices you company produces are
either created in the system or subsequently
entered into the system. In any case, all invoices
are initially stored in Quantrac 2005 as
outstanding unpaid invoices.
Receipts
All receipts for payment of
invoices are entered into the
system via the Apply
Payments routine.
All of the checks, cash, credit card receipts, etc.
are entered into Quantrac 2005 via the Apply
Payments routine. They can be applied to
outstanding invoices or as pre-payments for
future services.
Receipts
All receipts for prepayment of
services or products are
entered via the Apply
Payments routine.
Accounting Summary
Report
The system produces an Account-
ing Summary report, listing each
general ledger account that was
affected by business activity. Use
this report to update your General
Ledger via General Journal Entries.
Aged Receivables Report
The system produces an Aged Receiv-
ables report to aid in collections.
Customer Statements
The system produces customer
statements for all customers,
those with activity for the month,
or only those with outstanding
invoices.
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