1. Set accounts for the ten new GL mappings for Progress Invoice.
2. Navigate to the Order you want to progress post to COGS.
3. Open the new Progress Billing page (Billing+ >> Progress Billing, must be using the new version of the Order page).
4. Here you can view previous revenue progress billings and create a new revenue progress billing, as before.
5. To make a COGS posting, click Show Cost Info.
6. This will show you your estimated costs (from the BOM worksheet), accrued costs (from WIP Aging), and previously posted COGS for the following cost buckets: Labor, Material, Overhead, Outsource, and Expense.
7. To recognize COGS for these cost buckets, click Amount to Bill. This will populate your accrued cost minus any previously posted costs for each bucket. You can also enter your own amounts here.
8. You can also recognize revenue based on the following formula:
- Revenue To Recognize = ((Accrued Cost / Est Cost) × Ext Resale) − Previously Billed Rev 9. To complete your COGS progress posting (and optionally bill the customer), you’ll need to add a Part # and click Create Progress Invoice.10. Note: you can create an actual A/R billing event simultaneously with this, if you want. Or, you can keep the A/R billing events separate.11. Note: Invoicing this Order will reverse the ledger activity for all COGS Progress Postings.