Guide contents: Navigation | Billing cycle | Generate retainer invoices | Generate media invoice | Generate billing worksheet | Tracking billing | Purchasing | Enter an order | Enter a voucher/vendor invoice | Enter credit card charges | Pay your vendor | Print checks | Track purchasing | Account reconciliation | Post transactions to GL | Month end procedures | Videos & Guides
(Click on any feature button to learn more about that feature)
Your billing cycle should be conducted in the following Order: 1) Retainer billing, 2) Media billing, and 3) Generate project billing worksheets.
The reason behind this order is to clear out all transactions related to Pre-approved invoicing, i.e., retainer, media, your normal project billing, which typically requires an approval process, and billing worksheets.
- From Menu > Billing > Mass billing > Retainers.
- In the Client text box, enter a client ID, if you want to search retainers for a specific client.
- In the Through date text box, enter a date to search for transactions through. If you only want to bill expenses through the end of last month, the through date would be the last day of last month.
- In the Invoice date text box, enter the invoice date that should be used on the generated invoices.
- In the Posting date text box, enter the posting date that should be used on the generated invoices.
- Click the Search button to find all retainers to be billed.
- Select the "checkbox" next to each retainer that you want to bill.
- Click the Generate invoices button at the bottom of the list. This will create the invoices and send them in for approval.
- From Menu > Billing > Mass billing > Media
- Set the 'through date' for your media orders. Typically these will be out 3-6 months.
- Set 'through date' for vendor invoices. Typically this will be set to a current period.
- Select the orders & vouchers you wish to bill for.
- Click Generate invoices.
The use of billing worksheets is ideal for agencies that handle many projects simultaneously and require input from account managers in the billing process.
This integrated billing process allows you to complete the review process faster, with fewer mistakes and missed billing opportunities.
Overview of the steps taken when using billing worksheets:
Generation: The accounting department initiates the generation of billing worksheets. They are forwarded to the designated reviewer(s).
Review: A designated reviewer (the account manager on a project) can review, edit & transfer transactions. The billing worksheet is then forwarded back to accounting for approval.
Approval: A designated approver can edit transactions & approve billing worksheets.
Create invoices: Once approved, the accounting department can turn the billing worksheets into client invoices.
There are a couple of options that can be set at the project level to help determine how the project should be billed:
Billing specifications should be set at the project level under the Project setup > Billing tab:
Billing method (time & materials, fixed fee, or retainer)
Labor billing rates
Purchasing & media markups
NOTE: This information can also be set at the client level and defaulted onto projects and billing worksheets when created, further simplifying the setup.
On the Accounting tab of the project, the optional billing schedule can be edited to designate the project's billing to be incremental. This will inform the system to flag this project to create a fixed fee billing worksheet based on the billing schedule provided on the project.
NOTE: This step is unnecessary for retainers, as this information is defined in the retainer plan.
From Menu > Billing > Billing worksheets > Generate
Specify criteria such as 'client ID',' through date', and 'options'.
Click the Search button to see a list of projects meeting your criteria.
Select the projects you want to create the billing worksheet for. We recommend that you use the select ALL box.
Click Generate worksheet button.
Each project will have its own billing worksheet to be reviewed & approved. If using the 'one invoice per client' option, for example, the worksheets will appear with a master billing worksheet.
Approve billing worksheets
Once the AE from the project is done with the worksheet, they will submit it for approval. The worksheet will now be in your My items to approve box. This allows you to review what the AE has asked to be done for the client project. You can edit & approve the worksheet or reject it with comments sending it back to the AE for changes. Once fully approved, the worksheet is ready to become an invoice.
Create invoices from billing worksheets
Before generating invoices, go to Menu > Billing > Billing worksheets. Confirm that all worksheets for the period have been 'approved'. Cycle through the listings, 'in review' and 'submit for approval'. These should be empty.
From this same screen, click on the Generate invoice icon, located along the left side.
From the Generate invoice screen, all approved billing worksheets and master worksheets can be found in the Create Invoice tab of the Billing worksheet menu window. Simply, indicate which worksheets you would like to bill and press the Generate invoices button.
All related billing worksheets must be approved before the master worksheet can be approved.
Search for Saved billing worksheets.
Billing worksheets are permanently stored in the database to provide an audit trail of the billing from Menu > Billing > Billing worksheet > Search.
When you open a billing worksheet to its Worksheet settings tab, you will see a summary of the key information. The Details tab of a billing worksheet shows the transactions that were automatically included on the worksheet during the initial generation process.
NOTE: Projects can only have one billing worksheet in progress at any time. Also, no transactions can be modified outside of the Billing worksheet while they are included on a billing worksheet currently in progress.
How an invoice prints out are determined by the Invoice layout selected, and how the invoice is generated using the above methods. It is suggested that you generate the invoice with as much detail as possible, then use the invoice layout to print to the level of detail/summary you want.
You will be tracking purchasing via the following locations:
Menu > Billing > Client invoice
Menu > Billing > Billing worksheets
Menu > Billing > Receipts
Menu > Reports > AR reports > AR aging
How to enter a purchase order
For project-related purchase orders, you will probably receive a notification from the project manager regarding the need to create an order. Go to the project.
From the Project: Estimate
From the Project: Budget: Estimate >>open the appropriate approved estimate.
Click on the Create PO button in the top right corner.
Select the line(s) you need to create a PO for and click Create PO.
Because this may create more than one PO, you will need to go to the PO listing screen (Menu > Purchasing > Purchase orders) to review the orders you have just created.
Open the appropriate Purchase order to review the contents.
You will note that all of the information has been prefilled for you.
Click on the Address/instructions tab
Enter the appropriate information needed for the vendor. Click the action: 'approve' to approve the order and allow the order's billing to the client.
How to enter a voucher/vendor invoice
When a voucher is received from your vendor, you want to make sure you tie the voucher back to the order.
Menu > Purchasing > Vendor invoice >
From the Edit vendor invoice screen: enter the order number associated with the voucher.
Once selected, the screen will refresh and bring you directly to the order lines.
Check the order line to see if the voucher is for the same amount as the order, Click Done.
If the voucher is higher or lower, enter the amount in the Open net column > Check Close checkbox > Done.
You will be returned to the Edit invoice screen.
Fill in the Invoice number & Invoice Date >> SAVE.
Click Approve button in the top right corner, or Submit if you are not designated as a voucher approver.
If you’ve set up a credit card provider to automatically download credit card charges nightly, then you can use this screen to match up credit card charges and allocate them to the correct project.
You can also use this screen to match up the manually created credit card charges against the activity downloaded from the bank.
If your credit card is not listed as a supported provider, you can import credit card activity using the .ofx file import.
The connector's purpose is to allow you a chance to review & code your incoming charges to the correct project and other settings. This is the screen your people who use the credit cards can use to code them correctly. They will only be able to see cards that they have been given access to use. The top grid shows incoming charges. There are three actions you can take:
1) Code and process the charge
The typical choice will be to code the charge to the correct project, office, item, purchased from etc. then you can shift or ctrl-click to select multiple lines and press the Process button. The system will then take the selected rows and turn them into credit card charges.
2) Match the transaction to an existing charge
Sometimes you need to manually enter a charge such as if you were using the Select invoices for payment screen and decided to pay a vendor invoice with a credit card. Any manual charge that has been entered and not matched to an incoming charge will show up at the bottom of the screen. To match an incoming charge to an existing one, highlight both the transaction and the unmatched charge below and press the Match entries button on the bottom grid. This will cause both rows to be removed (marked as processed).
3) Mark an incoming charge as "Processed"
When you first start using the system, you may bring in several incoming charges that you have already handled some other way and you really just want to make them go away. Select the rows you want and press the "Mark as processed" button. These charges will then be removed.
Linking one charge to multiple vendor invoices for the same vendor
It is possible to link a charge to an existing vendor invoice or even multiple vendor invoices, but this is typically done through the Select invoices for payment screen. When selecting invoices for payment, you now have the option to select a credit card as a form of payment instead of a check. Then, when the electronic charge comes in, you can match the incoming charge with the existing charge.
But if you are going to link to vendor invoices, you need to first put in a vendor. If you need to apply it to multiple vendor invoices, then customize the columns on the grid to show the Split invoices column. If this box is checked, the system will show you a list of open vendor invoices for the selected vendor.
You can't code a credit card charge to both a project and a vendor invoice. It is one or the other.
Applying one charge to multiple projects
You can also apply a charge to multiple projects. Customize the columns and select the split projects column. When this column is checked, you can access an input grid. This allows you to add in each project and task and how much each project should get.
Approving the charge
Once you process the transaction(s) from the connector screen, those get turned into Charges that need to be approved. Whoever is set as your credit card approver will see these charges appear in their My items to approve widget.
How to pay your vendors
Paying vendors is usually done at the month's end, but can be performed anytime.
Menu > Purchasing > Select invoices for payment.
Select the appropriate filters, if necessary, and click Search.
Invoices billed to client: This restricts results to only vouchers or orders that have been billed to the client.
Invoices paid by client: This restricts results to only vouchers or orders that have been billed to the client and the client has paid the invoice.
- Select the payments that you would like to pay.
- Select the bank account to use for the payment.
- Enter the payment date that will be set on the check/payment.
- Click Create payments.
Menu > Purchasing > Print checks
Select the cash account. The payments associated with the account will auto-display.
Click Print checks: This will create a PDF file that will be sent to the printer that contains your check stock.
Following the printing, the screen will have refreshed to show the Confirm printing screen.
Click Confirm printing: this will set the check number on the payment.
You will be tracking purchasing via the following locations:
Menu > Purchasing > Purchase orders
Menu > Purchasing > Vendor invoices
Menu > Purchasing > Payments
Menu > Reports > AP reports > AP aging
Workamajig allows you to reconcile a selected G/L account against your monthly statement. You can reconcile any general ledger account in Workamajig. Typically, you would reconcile bank accounts, cash accounts (such as petty cash), and credit card accounts. You should systematically reconcile accounts each period, so you can quickly detect bank errors, match real-world data with Workamajig data, and identify possible suspicious activity.
The reconciling run is saved for each account reconciled. This allows you to print previous reconciliations before starting a new one.
NOTE: The reconciliation process does not affect your GL balances. This is used as a checksum for your accounts.
Account reconciliations listing
The Account reconciliation listing screen provides a summary-level view of all account reconciliations. You can modify the view to display the information that is pertinent to your team. You may also view the data in PDF or export via CSV and Excel file formats.
From Menu > Accounting > Account reconciliations.
Click the button to start a new reconciliation.
In the GL account select the correct account.
In the Statement start date text box, enter the beginning date from your statement.
In the Statement ending date text box, enter the ending date from your statement.
In the Beginning balance text box, this should be the same as your closing balance from the last reconciliation.
NOTE: This number is calculated by adding together all credits/debits that have targeted the GL account, including journal entries, payments, and receipts since the beginning of time, plus any other increases/decreases that have been entered on individual reconciliations.
In the Statement balance text box, enter the ending balance from your statement.
Opening reconciliation: Leave this unchecked.
Cleared opening transactions: Enter any transactions that had not cleared the bank during your Go-Live process. Typically this will be left blank.
Filter dates: Enter the right-side date only. This will ensure that all prior transactions will be accounted for.
Selected increases: Shows the number of increases selected on the lower left side of the screen.
Selected decreases: Shows the number of decreases selected on the lower right side of the screen.
Selected balance: Shows the "Bank balance" >> Beginning balance + (all increases +all decreases).
Statement difference: Shows the difference between the Statement balance, and all selected increases and decreases.
The reconciliation screen shows additions/increases on the left-hand side and deductions/decreases on the right-hand side. The outstanding difference is shown at the top of the screen.
If you need to enter any adjusting entries, you can click save (not save and finalize) at the top of the screen. This will save your work up to this point, and allow you to go and enter other entries into the system. You may need to enter journal entries for bank charges or other adjustments. You can then come back later and select the account from the list of reconciled accounts, and resume your work.
Once you have completed your reconciliation and the difference amount equals 0, you may click on the save & finalize button. This will save your work and mark all selected transactions as 'cleared'.
NOTE: Once transactions are 'cleared' via Account reconciliation, they will be locked from further editing. If you need to adjust transaction(s), Open the reconcile that contains the transaction and click the OPEN button in the top right corner of the screen. You do NOT have to remove (uncheck) the transaction.
Posting transactions to the general ledger
In Workamajig, for your transactions to be seen in general ledger and therefore available for financial reporting, each transaction must be 'approved' and then, 'posted'. There are two methods of posting transactions: 1) Single method - via the Approved transaction screen, i.e. voucher, client invoice, or payment, and 2) Batch method - via the Post GL transaction screen.
Which method should I use?
The method that is best for you is dependent on the number of transactions and how your agency is organized.
Single method - Each item is posted after approval. This is generally used when the same person that approves the item will also post the item.
Batch method - Blocks/all items are posted at once. This is generally used when the person approving the invoice differs from the accounting person, or you prefer a review process before committing items to the general ledger.
When should I post?
This is truly a preference for your agency. Obviously, if using the single method, it would be at the time of approval. For the batch method, many will review & post all items that were approved that day. Some will wait until the end of the week, so it is truly up to you. However, before running any financial reports, all transactions for the subject time period must be posted to ensure the accuracy of the reports.
Is the posting date important?
Yes! The posting date set on the item will determine when it will affect your general ledger, and therefore your financial reports. By default, when you create an invoice or payment, the posting date will be auto-set to "today's" date.
In the case of client invoices and receipts, for example, the receipt posting date will determine when the invoice has been "paid" and therefore be removed from the AR aging report.
How to post
Following the approval of the item, a Post button will appear in the top right corner of the screen. Simply click the button to post.
Ex. Client invoice.
The batch method allows you to gather & review all items before posting. We assume that you already understand how to approve the subject items.
Menu > Accounting > Post transaction to GL
The Post transaction screen is divided into 3 parts: 1) Select a report, 2) Search options, and 3) Results grid.
Select a report
Based on the selections made in the search options, you can create a PDF report for the following:
- Missing transactions - Shows all transactions that are sent for approval, aren't sent for approval, or, in the case of payments, have no check number.
- Preposting by account - Shows all transactions that are ready for posting grouped by the target GL account. It will also show transactions that will not post due to the lack of a designated GL account.
- Prepost by transaction - Shows all transactions ready for posting grouped by the invoice, voucher, payment, or receipt number. It will also show that the item can not post due to the lack of a designated GL account.
This area allows you to designate what items will flow into the reports or results grid.
- Starting date: Sets beginning date for looking at items
- Through date: Sets end date for looking at items
NOTE: Many will leave both of these blank to ensure that all possible transactions are captured.
- Check boxes: Select the appropriate checkboxes to view appropriate transactions to display. Selections are Vendor invoices, Payments, Client invoices, Receipts, Journal entries, and Credit card charges. If a box is not selected, then no transaction from that section will be reported.
It is recommended that before running the company financials, you select all boxes and ensure that all transactions for the appropriate time period have been posted.
This area shows all transactions based on the selected search options. Once the posting routine has been completed, it will display items the system could not post.
In the Results grid, check the box associated with the item line. To select all, check the box in the column header. Click the Post button, located in the top right corner of the screen.
Month end procedures
Workamajig provides a way for you to perform a soft close of your financial records. It is recommended that you do this each month to help eliminate future issues with the posting of transactions and allow you to find errors in your financial records and reports easily.
Make sure all reports are being run for the same time frame to ensure accuracy.
- Check for unapproved transactions - via Menu > Accounting > Post transactions, from Select a report, choose Missing transactions report. Select the relevant through date. Click PRINT. This will show you transactions that have not yet been approved.
- Post all transactions - It is recommended that you perform this step on a daily or weekly basis. This is a 2-step process:
- a) Via Menu > Accounting > Post transactions, from Select a report, choose 'PrePosting by transaction'; select a relevant start date & through date.
NOTE: To ensure that all transactions are captured, you may want to leave the dates blank; select the relevant Sub-Ledgers (NOTE: only the transactions connected with the selected Sub-Ledgers will be captured in the report and subsequent posting of the transactions): click PRINT. This provides a report on all approved transaction that is ready for posting. Any transactions that can't be posted will display WILL NOT POST followed by the reason. Fix any problem transactions.
- b) Following the review step above, you will follow the same procedure, except this time click POST. This will post all transactions that are available, and for the Sub-ledgers, you have selected.
- Run the Balance sheet report - via Menu > Reports > Financial reports > Balance sheet
- Run the Corporate profit & loss report - Menu > Reports > Financial reports > Corporate profit & loss
- Run AR and AP aging reports - The two aging reports should match the total on your balance sheet for those accounts with the same date range.
- AP aging: Menu > Reports > AP reports: AP aging
- AR aging: Menu > Reports > AR reports: AR aging
NOTE: For advance billing, run the AR aging report with the Unapplied advance bill. This total should match the advance bill account on your balance sheet.
- Run accrued order detail report: You may skip this step if you are not pre-billing orders to your clients. The total will match the balance sheet Accrued order account.
- Via Menu > Reports > AP reports: Accrued order detail.
- Set the closing date - When all reports have been deemed correct, you will now set the closing date to prevent any posting of transactions to a date before the set closing date. This will also prevent transactions from being unposted. The closing date should be set to the first day of the next month. Ex. To close June, set the date to 07/01/YYYY. via Admin > System setup > GL settings: GL tracking options > - select a closing date.
NOTE: For any corrections, typically journal entries, to a closed period, simply move the date back one day and post to that final day of the month. This will allow you to find any corrective transactions in a prior period easily.